2 Apartments under 700 for rent in Westlake, OH

Last updated January 18 at 2:24pm UTC
Results within 1 miles of Westlake, OH
21990 River Oaks Dr
Rocky River
Rocky River, OH
Updated January 3 at 11:50am UTC
1 Bedroom
$595
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January 2018 Westlake Rent Report

Welcome to the January 2018 Westlake Rent Report. Westlake rents increased over the past month. In this report, we'll evaluate trends in the Westlake rental market, including comparisons to cities throughout the state and nation.

View full Westlake Rent Report
Rent Report
Westlake

January 2018 Westlake Rent Report

Welcome to the January 2018 Westlake Rent Report. Westlake rents increased over the past month. In this report, we'll evaluate trends in the Westlake rental market, including comparisons to cities throughout the state and nation.

Westlake rents increased over the past month

Westlake rents have increased 0.6% over the past month, and are up moderately by 2.4% in comparison to the same time last year. Currently, median rents in Westlake stand at $950 for a one-bedroom apartment and $1,180 for a two-bedroom. This is the third straight month that the city has seen rent increases after a decline in September. Westlake's year-over-year rent growth lags the state average of 2.5%, as well as the national average of 2.8%.

Rents rising across cities in Ohio

Throughout the past year, rent increases have been occurring not just in the city of Westlake, but across the entire state. Of the largest 10 cities that we have data for in Ohio, 9 of them have seen prices rise. The state as a whole logged rent growth of 2.5% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Dublin is the most expensive of all Ohio's major cities, with a median two-bedroom rent of $1,130; of the 10 largest cities in the state that we have data for, Dublin, is the only major city to see rents fall year-over-year (-0.2%).
  • Cincinnati, Columbus, and Toledo have all experienced year-over-year growth above the state average (4.0%, 3.8%, and 3.5%, respectively).

Westlake rents more affordable than many large cities nationwide

As rents have increased moderately in Westlake, a few large cities nationwide have also seen rents grow modestly. Westlake is still more affordable than most large cities across the country.

  • Westlake's median two-bedroom rent of $1,180 is slightly above the national average of $1,160. Nationwide, rents have grown by 2.8% over the past year compared to the 2.4% rise in Westlake.
  • While Westlake's rents rose moderately over the past year, many cities nationwide also saw increases, including Phoenix (+3.8%), Seattle (+3.0%), and Dallas (+2.2%).
  • Renters will find more reasonable prices in Westlake than most large cities. For example, San Francisco has a median 2BR rent of $3,010, which is more than two-and-a-half times the price in Westlake.

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.