Data analyzed by the national online renting platform Rent.com highlight five areas in the city where rent is on the steepest incline.
North Baton Rouge is leading the jump, followed by downtown and the O’Neal area.
The data, which comes from the site’s own apartment listings, show the following rental rate increases over the past year and the current average price for a one-bedroom:
• North Baton Rouge, 6.87% increase at $671.86.
• Downtown, 4.33% increase at $1,354.28.
• O’Neal, 2.26% increase at $902.67.
• Mid City, 2.1% increase at $740.61.
• Old Goodwood, 0.44% increase at $812.93.
North Baton Rouge is one of the fastest-growing residential areas of the city as residents spill out from neighboring Mid City. While prices are on the lower end of the spectrum, at an average of about $672 for a one-bedroom, they’re quickly going up.
Downtown has seen a number of new high-scale apartment complexes go up in recent years, but supply is still limited, contributing to the 4.33% rental rate increase.
Read the full report here.
