Rent Report: Newport Still Tops Kentucky as Most Expensive for Large Apartment Communities
In its monthly analysis, RentCafe announced that Newport continues to post the most expensive average monthly rent for units in communities that are rented at market rate prices and that have 50 or more units.
The website partnered with Yardi Matrix for the report which used a telephone survey to compile its data.
In Newport, the average monthly rent for such a unit is $1,166. In Burlington, the second-most expensive city in the state, the average rent is $1,001.
Covington is not yet included in these ratings, though it has some newer developments online and under construction that would qualify for this analysis at some point.
The average rent went up across the nation in January at a rate of 3 percent.
The analysis also included the Northern Kentucky cities of Erlanger ($737), Florence ($909), and Ft. Mitchell ($812).
Read the full report here.