30 Apartments under $1,000 for rent in Wilmington, DE
September 2019 Wilmington Rent Report
Welcome to the September 2019 Wilmington Rent Report. Wilmington rents declined over the past month. In this report, we'll evaluate trends in the Wilmington rental market, including comparisons to cities throughout the metro, state, and nation.
September 2019 Wilmington Rent Report
Welcome to the September 2019 Wilmington Rent Report. Wilmington rents declined over the past month. In this report, we'll evaluate trends in the Wilmington rental market, including comparisons to cities throughout the metro, state, and nation.
Wilmington rents decline sharply over the past month
Wilmington rents have declined 0.6% over the past month, but are up moderately by 2.8% in comparison to the same time last year. Currently, median rents in Wilmington stand at $1,061 for a one-bedroom apartment and $1,281 for a two-bedroom. Wilmington's year-over-year rent growth lags the state average of 3.0%, but exceeds the national average of 1.5%.
Rents rising across the Philadelphia Metro
Throughout the past year, rent increases have been occurring not just in the city of Wilmington, but across the entire metro. Of the largest 10 cities that we have data for in the Philadelphia metro, 8 of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.
- Lansdale has the most expensive rents in the Philadelphia metro, with a two-bedroom median of $1,741; the city has also seen rent growth of 4.9% over the past year, the fastest in the metro.
- Pottstown has the least expensive rents in the Philadelphia metro, with a two-bedroom median of $974; the city has also seen rents fall by 1.2% over the past month, the biggest drop in the metro.
Wilmington rents more affordable than many large cities nationwide
As rents have increased moderately in Wilmington, a few large cities nationwide have also seen rents grow modestly. Wilmington is still more affordable than most large cities across the country.
- Wilmington's median two-bedroom rent of $1,281 is above the national average of $1,191. Nationwide, rents have grown by 1.5% over the past year compared to the 2.8% rise in Wilmington.
- While Wilmington's rents rose moderately over the past year, many cities nationwide also saw increases, including Boston (+2.2%), New York (+1.7%), and DC (+1.5%).
- Renters will find more reasonable prices in Wilmington than most large cities. For example, San Francisco has a median 2BR rent of $3,133, which is nearly two-and-a-half times the price in Wilmington.
For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
Methodology - Recent Updates:
Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.
Read more about our new methodology below, or see a more detailed post here.
Methodology:
Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.
Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.
Read more about our methodology here.
About Rent Reports:
Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.
We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.