The Rent Cafe 2018 Year End Rent Report shows rents hold strong at year end.

What most caught my eye, however, was an interactive graphic that lets you hover over a phrase to see how often perspective renters included that word or phrase in a search.

Search Results

  • Cheap apartments: 25.14%
  • Studios: 23.88%
  • One-, two- and three-bedroom apartments follow in that order, with 10.48%, 9.46% and 7.5% of all rental-related searches, respectively.
  • Luxury apartments also saw significant interest among renters this year, accounting for 7% of searches.
  • Those wanting a pool or gym turned up in 0.33% and 0.06% respectively

Cheap Is On My Mind

Studio is another sign that cheap is on renter's minds.

Admittedly there is some overlap between cheap and studios while there isn't between One-, two- and three-bedroom apartments. However, there is likely some overlap between studio and one-bedroom.

GPS Searches

The infographic only listed amenities but here's another interesting factoid: Online activity has migrated to GPS-enabled mobile devices. One third of the keywords people searched for in 2018 included the words ‘near me.’

Cheap - Near Me


This is what people want: Cheap, near them.

Everything else other than number of bedrooms doesn't factor in until final comparisons.

National Average Rent

Image placeholder title

Other Take-Aways

  • The national average apartment rent ends the year with a strong 3.1% y-o-y increase, having reached $1,419, $42 above what renters were paying this time last year, according to Yardi Matrix.
  • As of the end of the year and throughout 2018, rents have seen the most fluctuation in small cities, with double-digit percentage increases in Odessa, TX, Midland, TX, and Reno, NV.
  • Queens, NY has been the only large market with stagnating rents, and only two small cities, Baton Rouge, LA and College Station, TX have seen significant decreases.

Cheap is In

In case you haven't figured it out, cheap is in.

Don't count on those looking for "cheap" to be looking to buy homes until this economic bubble collapses.

Mike "Mish" Shedlock

Apartment Construction in 2018 Expected to Decline 11% After Strong 6-Year Run

The Yardi Matrix/Rent Cafe expects apartment construction to decline in 2018 for the first time since 2011.

Australia Housing Insanity: Tent Outside, Full Use of Apartment, Cheap, $90 Per Week

Every time you think things in Australia cannot get any more ridiculous, you are proven wrong.

Record Mergers in 2018: History Has Ominous Suggestion

2018 is on pace for a record number of mergers. A look at prior merger peaks suggests this is not a good thing.

The Most Redeeming Feature of Capitalism is Failure

Capitalism is under attack by utopians who wish to impose a more compassionate system and by political opportunists.

Amazon's Split HQ Will Spark Apartment Boom in NY Queens and VA Crystal City

Amazon's decision to split its headquarters will also split rental needs. Expect an apartment boom in two cities.

Texas Has Four of the Top 5 Cities for New Apartment Construction

A Texas apartment boom began at over a decade ago. It has recently picked up steam with Dallas, Austin, Houston, and San Antonio leading the way.

Economists Think Inflation Will Rise Sharply in 2018: They're Wrong

Let's investigate six reasons economists think inflation is about to pick in 2018, and why I think they are dreaming.

Chinese Officials Lock Virus Infected Persons Inside Their Apartments!

Two videos show Chinese officials locking virus infected persons inside their apartments.

Glut in Luxury Apartments: Boom Set to Fizzle in 2017

Real estate is has been one of the economic bright spots in the US for several years. But rising interest rates and a glut of luxury apartments portends a slowdown in 2017.