Report: Memphis rent increased 2% since last year - WMC Action News 5 - Memphis, Tennessee

Report: Memphis rent increased 2% since last year

(Source: WMC Action News 5) (Source: WMC Action News 5)
MEMPHIS, TN (WMC) -

The cost of rent in Memphis grew 2 percent year-over-year, according to a report published by ApartmentList.com.

In the report, the site said it tracked rent growth, median prices, and market trends.

Over the past month, Memphis rent increased .2 percent, but two full percentage points year to year. Median rent prices remain more affordable than other cities nationwide. 

The national rent index increased by 2.9 percent year to year.

The following is how ApartmentList.com explains where its data comes from:

Data from private listing sites, including our own, tends to skew towards luxury apartments, introducing sample bias. In order to address these limitations and provide the most accurate rent estimates available, we now start with reliable median rent statistics from the Census Bureau, then extrapolate forward based on our own rental listing data, using a same-unit analysis similar to Case-Shiller’s approach, which compares only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

To read the full report, click here.

Copyright 2017 WMC Action News 5. All rights reserved.

  • News on WMCTV.comNewsMore>>

  • As the BBQ competition wraps up, organizers prepare for 901 Fest

    As the BBQ competition wraps up, organizers prepare for 901 Fest

    Sunday, May 20 2018 11:13 PM EDT2018-05-21 03:13:09 GMT
    (Source: WMC Action News 5)(Source: WMC Action News 5)
    (Source: WMC Action News 5)(Source: WMC Action News 5)

    After a successful BBQ contest, organizers of Memphis in May are on to setting up for the next event--901 Fest. 

    More >>

    After a successful BBQ contest, organizers of Memphis in May are on to setting up for the next event--901 Fest. 

    More >>
  • Two people shot, killed in Memphis

    Two people shot, killed in Memphis

    Sunday, May 20 2018 7:27 PM EDT2018-05-20 23:27:34 GMT
    (Source: WMC Action News 5 Archives)(Source: WMC Action News 5 Archives)
    (Source: WMC Action News 5 Archives)(Source: WMC Action News 5 Archives)

    Two people were shot and killed in Memphis on Sunday, according to Memphis Police Department. 

    More >>

    Two people were shot and killed in Memphis on Sunday, according to Memphis Police Department. 

    More >>
  • Civilian review board feels it has 'no power' when overseeing MPD

    Civilian review board feels it has 'no power' when overseeing MPD

    Sunday, May 20 2018 6:12 PM EDT2018-05-20 22:12:45 GMT
    Reverend Ralph White (Source: WMC Action News 5)Reverend Ralph White (Source: WMC Action News 5)
    Reverend Ralph White (Source: WMC Action News 5)Reverend Ralph White (Source: WMC Action News 5)

    The Civilian Law Enforcement Review Board (CLERB) is tasked with investigating allegations of police misconduct, but it's chairman said instead of providing oversight, it's all just one big show. 

    More >>

    The Civilian Law Enforcement Review Board (CLERB) is tasked with investigating allegations of police misconduct, but it's chairman said instead of providing oversight, it's all just one big show. 

    More >>
Powered by Frankly