LITTLE ROCK, Ark. – Apartment renters in Arkansas have fewer choices and higher rent costs than pre-pandemic levels, according to one survey.
QuoteWizard surveyed the nationwide rent market changes between 2019 and 2021 and found Arkansas as a top-ten state for the drop in available apartments. According to the study, the number of Arkansas apartments for rent has dropped 36.4%, ranking the state number eight for loss nationally.
Nevada was the state’s greatest drop in apartment availability at a 59.2% drop for the 2019-2021 period. Among cities, Richmond, Virginia, saw a 73.7% decrease in apartment availability.
The good news for Arkansas apartment renters is that rent increased an inflation-battling 3.9% for the same period when the inflation rate was 5.9%. Delaware saw a 12.3% cost increase for that period.
According to the study, the number of available apartments has remained unchanged for most of the country.