Average rents dip 0.7% in Manchester

For the first time in many months, average rents in Manchester fell in May, dropping 0.7 percent from April, according to a report from the website Apartment List.

But for New Hampshire as a whole, rents remain on the rise, climbing an average of 4.4 percent from April, according to the report.

Year-over-year rent growth in Manchester now stands at 1.1 percent, a far cry from the 16 percent jump recorded last Maye Nevertheless, since the start of the Covid-19 pandemic in March 2020, rents in the city have surged 39.5 percent.

That 39.5 percent three-year increase in rents is the eight-largest among U.S. cities, according to another recent report released by the moving company matching service Moving Feedback.

According to Apartment List, the median rent in Manchester in May was $1,334 for a one-bedroom apartment and $1,780 for a two-bedroom apartment.

Nationally, Apartment List rents have risen 1.9 percent for the year.