16 States Where the Price of a 2-Bedroom Has Gone Down in the Past Year

The average apartment rental goes for about $1,713 in the U.S., according to Rentcafe. This is for an 899-square-foot apartment and doesn’t necessarily take into account the number of bedrooms or bathrooms, though it’s fairly standard for a one-bedroom apartment.

It stands to reason then that two-bedroom apartments are often more expensive to rent. In some states, rent prices are astronomical, especially compared to the median household income of those areas.

In a time when the high cost of living continues to be a major stressor, it’s not surprising that so many people are looking for more affordable housing options for themselves and their families. Sometimes, though, it’s just not feasible to go from a two-bedroom apartment to a one-bedroom or a studio.

The good news is that, while most things seem to continually become more expensive, apartment rentals have actually gone down a little in certain areas. This isn’t the case with all states, of course, but it’s worth knowing if you live in a state where prices have dropped and are looking for something a little cheaper.

But which states have seen rental prices go down?

GOBankingRates gathered data from ApartmentList.com to figure out the average rental cost for a two-bedroom apartment in every state (excluding Maine, Vermont and Alaska due to lack of information). Using these data, it was then determined which states have seen rental prices decrease since 2022 (with projections for December 2024). The data were then calculated to determine the month-over-month and year-over-year price changes.

Out of all the states (and the District of Columbia), just 16 states have seen two-bedroom rental prices go down since 2022. Here are the results in reverse order.

• December 2022 average rent: $2,235
• November 2023 average rent: $2,240
• December 2023 average rent: $2,234
• One-month change ($): $6
• One-month change (%): -0.27%
• One-year change ($): $1
• One-year change (%): -0.04%

• December 2022 average rent: $1,037
• November 2023 average rent: $1,048
• December 2023 average rent: $1,036
• One-month change ($): $12
• One-month change (%): -1.16%
• One-year change ($): $1
• One-year change (%): -0.10%

• December 2022 average rent: $1,679
• November 2023 average rent: $1,691
• December 2023 average rent: $1,670
• One-month change ($): $21
• One-month change (%): -1.26%
• One-year change ($): $9
• One-year change (%): -0.54%

• December 2022 average rent: $1,679
• November 2023 average rent: $1,688
• December 2023 average rent: $1,669
• One-month change ($): $19
• One-month change (%): -1.14%
• One-year change ($): $10
• One-year change (%): -0.60%

• December 2022 average rent: $1,392
• November 2023 average rent: $1,376
• December 2023 average rent: $1,372
• One-month change ($): $4
• One-month change (%): -0.29%
• One-year change ($): $20
• One-year change (%): -1.46%

• December 2022 average rent: $955
• November 2023 average rent: $943
• December 2023 average rent: $939
• One-month change ($): $4
• One-month change (%): -0.43%
• One-year change ($): $16
• One-year change (%): -1.70%

• December 2022 average rent: $2,202
• November 2023 average rent: $2,187
• December 2023 average rent: $2,165
• One-month change ($): $22
• One-month change (%): -1.02%
• One-year change ($): $37
• One-year change (%): -1.71%

• December 2022 average rent: $1,124
• November 2023 average rent: $1,110
• December 2023 average rent: $1,101
• One-month change ($): $9
• One-month change (%): -0.82%
• One-year change ($): $23
• One-year change (%): -2.09%

• December 2022 average rent: $1,308
• November 2023 average rent: $1,290
• December 2023 average rent: $1,280
• One-month change ($): $10
• One-month change (%): -0.78%
• One-year change ($): $28
• One-year change (%): -2.19%

• December 2022 average rent: $1,327
• November 2023 average rent: $1,302
• December 2023 average rent: $1,290
• One-month change ($): $12
• One-month change (%): -0.93%
• One-year change ($): $37
• One-year change (%): -2.87%

• December 2022 average rent: $1,589
• November 2023 average rent: $1,551
• December 2023 average rent: $1,542
• One-month change ($): $9
• One-month change (%): -0.58%
• One-year change ($): $47
• One-year change (%): -3.05%

• December 2022 average rent: $1,052
• November 2023 average rent: $1,025
• December 2023 average rent: $1,019
• One-month change ($): $6
• One-month change (%): -0.59%
• One-year change ($): $33
• One-year change (%): -3.24%

• December 2022 average rent: $935
• November 2023 average rent: $917
• December 2023 average rent: $903
• One-month change ($): $14
• One-month change (%): -1.55%
• One-year change ($): $32
• One-year change (%): -3.54%

• December 2022 average rent: $1,408
• November 2023 average rent: $1,367
• December 2023 average rent: $1,357
• One-month change ($): $10
• One-month change (%): -0.74%
• One-year change ($): $51
• One-year change (%): -3.76%

• December 2022 average rent: $1,298
• November 2023 average rent: $1,262
• December 2023 average rent: $1,250
• One-month change ($): $12
• One-month change (%): -0.96%
• One-year change ($): $48
• One-year change (%): -3.84%

• December 2022 average rent: $1,484
• November 2023 average rent: $1,429
• December 2023 average rent: $1,415
• One-month change ($): $14
• One-month change (%): -0.99%
• One-year change ($): $69
• One-year change (%): -4.88%

Methodology: For this study, GOBankingRates analyzed data from ApartmentList.com to find the average rental cost for a 2-bedroom apartment in every state. Using the average rental cost for December 2022, November 2023, and December 2023, as sourced from ApartmentList.com, GOBankingRates calculated the month-over-month change in price and percent, as well as the year-over-year change in price and percent. Maine, Vermont, and Alaska did not have reliable rental data and are excluded from this list. All data was collected and is up to date as of Feb. 21, 2024.