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Report: Philly’s rent decrease was 7th highest in nation last month

Philadelphia is making an appearance on rental firm Abodo's list of decreasing rental rates for the first time this month. Between November and December, prices fell by about 4 percent, according to the firm. Nationally, the average price of a one-bedroom apartment fell less than one half of one percent, going from $1,042 to $1,037.

Rents continue to rise in Colorado Springs (up 8 percent) and throughout California, including Long Beach (up 6 percent), Sacramento and San Diego (both up 5 percent). In Colorado Springs, the price hike still means you can snag a one-bedroom for $962, though. In California, Sacramento has been rising for several months and is at $1,109.

Rents in Philly may be down 4 percent, but that's still nothing compared with Miami, where an 11 percent dip still puts the average one-bedroom rental at $1,569.

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