EL PASO, Texas (KTSM) – The latest rental data available from Zumper.com shows that the median cost of a one-bedroom apartment in El Paso is slightly down compared to last year while the rental price of a two-bedroom unit has jumped 10-percent in the same period.
The site analyzed data for 100 large metropolitan areas in the U.S. and concluded El Paso remains one of the most affordable places in the country (95th out of 100 in terms of the cost for a one-bedroom apartment).
While the median price of a one-bedroom unit in the Sun City is down 2.4-percent in the past year and 5.8-percent in the past month (now at $810), two-bedroom units have jumped up to a median cost of $1,100.
The good news for renters, however, is that there was no increase in the median two-bedroom rental cost from January to February of this year.
Though El Paso’s rent is much lower compared to most other urban areas, it’s still a far cry from the most affordable market analyzed in the study.
Renters in Wichita, Kansas are only paying a monthly median rent of around $690 for a one-bedroom unit.
The national median price for a one-bedroom apartment currently sits at $1,492, virtually unchanged from a month ago but up about 7.3-percent compared to this time last year.
Renters in many large cities such as New York, San Francisco, and Boston, however, can still expect to pay around $3,000 or so for a one-bedroom unit, based on the latest data available.