108 Apartments for rent in Middle River, MD with pools
July 2020 Middle River Rent Report
Welcome to the July 2020 Middle River Rent Report. Middle River rents increased over the past month. In this report, we'll evaluate trends in the Middle River rental market, including comparisons to cities throughout the metro, state, and nation.
July 2020 Middle River Rent Report
Welcome to the July 2020 Middle River Rent Report. Middle River rents increased over the past month. In this report, we'll evaluate trends in the Middle River rental market, including comparisons to cities throughout the metro, state, and nation.
Middle River rents increase sharply over the past month
Middle River rents have increased 0.7% over the past month, and are up slightly by 1.7% in comparison to the same time last year. Currently, median rents in Middle River stand at $1,073 for a one-bedroom apartment and $1,346 for a two-bedroom. This is the fourth straight month that the city has seen rent increases after a decline in February. Middle River's year-over-year rent growth leads the state average of -0.6%, as well as the national average of 0.2%.
Rent trends vary across the Baltimore Metro
While rents prices have increased in Middle River over the past year, trends across the rest of the metro have varied. Of the largest 10 cities that we have data for in the Baltimore metro, some have seen decreases while other cities have rents increasing. Here's a look at how rents compare across some of the largest cities in the metro.
- Over the past year, Ellicott City has seen the biggest rent drop in the metro, with a decline of 5.6%. Median two-bedrooms there cost $1,746, while one-bedrooms go for $1,392.
- Catonsville has seen the fastest rent growth in the metro, with a year-over-year increase of 2.4%. The median two-bedroom there costs $1,471, while one-bedrooms go for $1,172.
- Columbia has the most expensive rents of the largest cities in the Baltimore metro, with a two-bedroom median of $1,954; rents went down 0.3% over the past month and 0.5% over the past year.
- Essex has the least expensive rents in the Baltimore metro, with a two-bedroom median of $1,111; rents remained steady over the past month.
Middle River rents more affordable than many large cities nationwide
As rents have increased slightly in Middle River, other large cities nationwide have seen rents grow more quickly. Middle River is still more affordable than most large cities across the country.
- Middle River's median two-bedroom rent of $1,346 is above the national average of $1,192. Nationwide, rents have held steady over the past year.
- While Middle River's rents rose slightly over the past year, some cities nationwide saw increases as well, including Columbus (+0.9%) and Nashville (+0.7%).
- Renters will find more reasonable prices in Middle River than most large cities. For example, Boston has a median 2BR rent of $2,108, which is more than one-and-a-half times the price in Middle River.
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.