Rent prices in Albuquerque increasing, according to report

The cost of renting in Albuquerque is going up.

That's according to a report from Apartment List, which showed rent in Albuquerque increased 2.4 percent over the past year. According to the site, the median rent for a one-bedroom property in Albuquerque is $630, and a two-bedroom property's median rent is $800. Rent across the state also increased by 2.4 percent.

Across the country, rents increased slightly this month, after four straight months of decreases, which capped off a year of lowered rent growth. Rents dropped in several of the nation’s most expensive markets, including San Francisco, Miami and Houston, mostly due to new units coming onto the market in the past year.

Tacoma, Washington, led the country with the fastest-growing rent, with prices increasing 7.7 percent. Colorado Springs, Colorado, was 10th for fastest-growing rent prices.

Apartment List said the potential confirmation of Ben Carson as Secretary of the Department of Housing and Urban Development could make rent prices unstable, citing Carson's lack of experience in government and housing, and the fact that his plans for HUD remain unclear.

In July, a study from Zumper, a San Francisco-based apartment rental app, ranked Albuquerque as the nation's 83rd most expensive city in which to rent. Click her to read the report.