96 1 Bedroom Apartments for rent in Bowie, MD
July 2020 Bowie Rent Report
Welcome to the July 2020 Bowie Rent Report. Bowie rents increased over the past month. In this report, we'll evaluate trends in the Bowie rental market, including comparisons to cities throughout the metro, state, and nation.
Bowie rents increase sharply over the past month
Bowie rents have increased 1.4% over the past month, and are up moderately by 2.0% in comparison to the same time last year. Currently, median rents in Bowie stand at $2,176 for a one-bedroom apartment and $2,513 for a two-bedroom. Bowie's year-over-year rent growth leads the state average of -0.6%, as well as the national average of 0.2%.
Rents falling across the DC Metro
While rents prices have increased in Bowie 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 DC metro, 9 of them have seen prices fall. Here's a look at how rents compare across some of the largest cities in the metro.
- Over the past year, Waldorf has seen the biggest rent drop in the metro, with a decline of 7.5%. Median two-bedrooms there cost $1,891, while one-bedrooms go for $1,637.
- Frederick is the only city in the metro that has seen rents rise, with a year-over-year increase of 1.3%. The median two-bedroom there costs $1,616, while one-bedrooms go for $1,399.
- Bethesda has the most expensive rents of the largest cities in the DC metro, with a two-bedroom median of $2,393; rents fell 0.5% over the past month and 3.7% over the past year.
- DC proper has the least expensive rents in the DC metro, with a two-bedroom median of $1,563; rents went down 0.7% over the past month and 0.7% over the past year.
Many large cities nationwide show more affordable rents compared to Bowie
As rents have increased moderately in Bowie, other large cities nationwide have seen rents grow more modestly, or in some cases, even decline. Compared to most large cities across the country, Bowie is less affordable for renters.
- Although rents across cities in Maryland have been moderately decreasing, the state's growth as a whole has held steady over the past year. For example, rents have fallen by 0.7% in Baltimore.
- Bowie's median two-bedroom rent of $2,513 is above the national average of $1,192. Nationwide, rents have held steady over the past year.
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.