NEW YORK (NEWS10) — According to a report by Quote Wizard, the average cost of rent in New York has decreased by 4% since June for a one-bedroom apartment. Their report looked at every state and calculated what percent increase or decrease renters have faced since June, January 2022, 2020, and several other facets.
Quote Wizard found that New York renters have seen a 27% increase in rent costs since 2020, a 5% increase since the beginning of this year (January 2022), but a 4% drop since June 2022 for the cost of a one-bedroom apartment. According to their report, the average monthly cost of rent in the state is $1,647. These statistics for the most part are on par or slightly higher than the U.S. average.
Since 2020, the average renter in the U.S. has seen a 22% increase in cost, a 5% increase since January 2022, and a 1% decrease in rent since June. The report also states the average renter spends $1,045 monthly on rent for the cost of a one-bedroom apartment. Quote Wizard sourced their rent cost data from Apartment List estimates.
Quote Wizard found the cheapest average renters insurance cost by state. The top five cheapest states are the following:
- Alaska ($125)
- New Hampshire ($138)
- South Dakota ($140)
- Maine ($154)
- Vermont ($156)
As for the most expensive average renters insurance cost per state, the most expensive states are the following:
- Mississippi ($374)
- Oklahoma ($348)
- Georgia ($346)
- Michigan ($345)
- Alabama ($334)