ARKANSAS (KNWA/KFTA) — Research conducted by Quote Wizard has found the price of rent is rising fast with Arkansas being among the top five U.S. states with the highest increases.
According to researchers, Arkansas’ rent is up 9% since January 2022 and 22% since 2020, making it the fifth-highest increase.
QuoteWizard found some key statistics for the Natural State that include the average price of a one-bedroom apartment costing $732 and rent being $133 a month more expensive than two years ago.
Overall, the nation’s average price of a one-bedroom apartment has gone up 6% since the beginning of 2022 and 23% since 2020.
Findings show Idaho and Maine are the two states where rent has risen the fastest. Rental prices in Maine have increased by 15% since the beginning of the year while rent in Idaho is up 44% in Idaho since 2020.
North Dakota and Minnesota are the only two states where rent has risen less than 10% since 2020.
To see the study’s full findings, visit QuoteWizard’s website.