Chesapeake among list of cities with lowering rent

Posted at 5:28 AM, Aug 17, 2018
and last updated 2018-08-17 05:28:53-04

CHESAPEAKE, Va. – A recent study performed by Apartment Guide has revealed Chesapeake is among the list of American cities where residential rates are actually getting cheaper.

The study, which lists 16 cities across the country, has Chesapeake coming in at number 15.

The data comes despite eight consecutive years of increasing rate throughout the United States.

Average rent in July 2018 in Chesapeake was $957.

Of course, this could be taken as either good news or bad news for residents of the city.

Laredo, TX topped the list with -6% change in rent rates, with an average rent of $827.

Baltimore, MD ranked third on list with an average rent of $1,045, down 2% from this time last year.