Apartments in the Washington Sqaure area saw the biggest percentage increase in rent in the last year, and are now among the most expensive in Mobile, according to Rent.com.
The average rent for a one bedroom apartment near Washington Square, in the Oakleigh Garden District, rose 7.55-percent last year and now stands at $1,002 per month.
The study found the second highest rents in the “Thornhill” neighborhood in West Mobile that includes the Stone Ridge Apartment Homes. Monthy rents for a one bedroom apartment in that area are $929, but prices did not increase from the previous year.
The “Overton” area, including Lakeview at Cottage Hill and other complexes along Cottage Hill and Grelot Roads, saw a 5.72-percent increase in rents last year and now averages $737 per month, according to the study.
The Llanfair area, including the Maison De Ville apartments has rents averaging $641, up 4.75 percent in the last year.
The “Bolton” area, including Windsor Place, Crossings at Pinebrook, Estates at Lafayette Square and Hamptons at Pine Bend saw rents go up 2.45-percent. The average monthly payment now stands at $658.
Rent.com compiled the data based on average rent for a one bedroom apartment. The study reviewed all neighborhoods in Mobile with sufficient available inventory on Apartment Guide and Rent.com, and compared the average price from December 2018 to December 2019 to find the neighborhoods with the highest percentage increase.
See the full report here