Reno apartment rents decline slightly in Nov. | nnbusinessview.com

Reno apartment rents decline slightly in Nov.

Special to the NNBW

Apartment rents in Reno declined slightly in November.

Median rental prices in Reno have declined 0.5 percent over the month of November but increased sharply by 7.8 percent in comparison to the same time period in 2016, according to the national apartment rental guide, Apartment List.

Currently median rents for a one-bedroom apartment stood at $870 a month, and $1,140 a month for a two-bedroom apartment. The rate for a two-bedroom is slightly below the national average, which stood at $1,160 a month. It is also far rates in some larger cities such as San Francisco, where rents for a two-bedroom apartment average $3,050 a month.

November was the second straight month Reno has seen decreases in rental prices.