30 1 Bedroom Apartments for rent in Jonesboro, GA
July 2020 Jonesboro Rent Report
Welcome to the July 2020 Jonesboro Rent Report. Jonesboro rents increased over the past month. In this report, we'll evaluate trends in the Jonesboro rental market, including comparisons to cities throughout the metro, state, and nation.
July 2020 Jonesboro Rent Report
Welcome to the July 2020 Jonesboro Rent Report. Jonesboro rents increased over the past month. In this report, we'll evaluate trends in the Jonesboro rental market, including comparisons to cities throughout the metro, state, and nation.
Jonesboro rents increase sharply over the past month
Jonesboro rents have increased 0.8% over the past month, and have increased significantly by 4.3% in comparison to the same time last year. Currently, median rents in Jonesboro stand at $1,087 for a one-bedroom apartment and $1,256 for a two-bedroom. This is the second straight month that the city has seen rent increases after a decline in April. Jonesboro's year-over-year rent growth leads the state average of -0.2%, as well as the national average of 0.2%.
Rents falling across the Atlanta Metro
While rents prices have increased in Jonesboro over the past year, the rest of the metro is seeing the opposite trend. Of the largest 10 cities that we have data for in the Atlanta metro, 7 of them have seen prices fall. Here's a look at how rents compare across some of the largest cities in the metro.
- Douglasville has seen the fastest rent growth in the metro, with a year-over-year increase of 1.5%. The median two-bedroom there costs $1,229, while one-bedrooms go for $1,064.
- Over the past year, Lawrenceville has seen the biggest rent drop in the metro, with a decline of 1.7%. Median two-bedrooms there cost $1,367, while one-bedrooms go for $1,184.
- Duluth has the most expensive rents of the largest cities in the Atlanta metro, with a two-bedroom median of $1,476; rents decreased 0.3% over the past month and 1.2% over the past year.
- Newnan has the least expensive rents in the Atlanta metro, with a two-bedroom median of $1,224; rents increased 0.3% over the past month and 0.8% over the past year.
Jonesboro rents more affordable than many large cities nationwide
As rents have increased significantly in Jonesboro, other large cities nationwide have seen rents grow more modestly, or in some cases, even decline. Jonesboro is still more affordable than most large cities across the country.
- Although rents across cities in Georgia have been moderately on the rise, the state's growth as a whole has held steady over the past year. For example, rents have grown by 2.7% in Augusta and 1.4% in Columbus.
- Jonesboro's median two-bedroom rent of $1,256 is above the national average of $1,192. Nationwide, rents have held steady over the past year.
- While Jonesboro's rents rose significantly over the past year, the city of Memphis also saw an increase of 0.5%.
- Renters will find more reasonable prices in Jonesboro than most large cities. For example, San Francisco has a median 2BR rent of $3,035, which is more than twice the price in Jonesboro.
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.