Rents nationwide seem to be stabilizing, seven months after they rose above $2,000 a month for the first time.
November rents crept up to a median of $2,007, a gain of just over 1% from October following two straight months of declines, according to a report from Rent.com.
The median rent on two- and three-bedroom apartments rose by 2.5% and 2.6% from the prior month, offsetting a decline of 0.3% for one-bedroom apartments.
The easing rent for one-bedroom leases reflected shifting demand: As single-bedroom spots became harder to afford, people began sharing larger apartments to divvy up rental expenses, according to the report.
“Our property management companies are seeing a lot more demand for the two- and three-bedrooms because people are joining up in roommate situations, where they would typically this profile of a customer come to them looking for a one-bedroom or studio to live alone,” Jon Leckie of Rent.com told USA TODAY.