The Apartment Guide’s annual report for 2019 released this week shows that in 2019 Maine had the third-highest rent increase across the nation. The average one-bedroom apartment costs $1,469.83, which is a 23.9 percent increase from the 2018 report.
Delaware ranks the highest with a 45.9 percent increase and Montana follows with 34.5 percent.
Apartment Guide gathers data from their rental property inventory, as well as the inventory from Rent.com, from the first week of each month in 2019. The prices are averaged to find the annual average. A weighted average formula is used to more accurately find the price average for unit types, such as studio, one-bedroom, and two-bedroom apartments.
Data shows that the among the most populated cities in the Northeast region (Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont), rent prices in Newark, N.J. increased by 10 percent or more across the three apartment types.