LITTLE ROCK, Ark. – The cost of living has increased over the years and according to a rent report, rent in Little Rock has grown nearly 10% in 2021.
According to a report from ApartmentList.com, the year-over-year rent growth in Little Rock currently stands at 7.6%, which is more than a 2% growth since this time last year.
The pandemic has affected many Arkansans and data from the report shows that rent in the metro city increased by 12.7% since the start of the pandemic in March 2020.
Data from the reports show that the median rent in Little Rock is $787 for a one-bedroom apartment and $936 for a two-bedroom. If you are looking at the cost per room, that would be nearly $150 for an additional bedroom.
To look at a broader aspect of the report, data shows that rent prices fell nationally by 0.2% last month, which is the first measurable price decline since 2020. This decrease comes after rent growth of nearly 18% in less than a year.
Nationally, the report shows that rent prices fell in 61 of the 100 largest cities in January. Riverside, California saw the nation’s steepest rent decline as it dropped by 3.1%, according to the data collected.
To view the analysis of the newest monthly data, check out the January Rent Report at ApartmentList.com.