Though the top 10 markets remained unchanged in the rankings, that does not mean there was no growth or declines in rents among these cities. Bay area cities Oakland and San Jose had the largest one and two bed monthly rental increases. Oakland one Bedroom prices were up 5.1% and, similarly, San Jose two bedrooms grew 5.1%.
Overall, the national one bedroom median rent grew 4.9% to $1,233 this month, while two bedrooms remained flat at $1,392. On a year over year basis, one and two bedroom prices are up 8.3% and 3.2%, respectively. Notably, this drastic national growth was surprising as 7 of the top 10 cities saw yearly one bedroom rental growth that was significantly less than that.
Top Five Rental Markets
1. San Francisco, CA, though continuing to reign as the most expensive city to rent, saw prices dip back below the $3,400 threshold, falling 0.9% to $3,390 this month. Two bedrooms saw a similar trend with rent down 2.7% to $4,380.
2. New York, NY one bedroom prices held steady this month, up 1% to $2,900. Two bedrooms, on the other hand, grew 5% to $3,360.
3. San Jose, CA remained the third most expensive market with one bedroom rent increasing 1.7% to $2,330 and two bedrooms jumping 5.1% to $2,870. On a year over year basis, however, both bedroom types are up around 9%.
4. Washington, DC saw one and two bedrooms settle at $2,330 and $3,060, respectively. Though with relatively stable growth rates this month, two bedroom rent is up 14.2% since this time last year, which is the largest year over year jump in the top 10 markets.
5. Boston, MA was the fifth most expensive city with one bedroom rent growing 2.3% to $2,250 and two bedrooms increasing 3.1% to $2,690.
Notable Changes This Month
Upward
–Long Beach, CA had the largest monthly growth rate in the top 15 markets with one bedroom rent up 5.1%, settling at $1,430, and four spots to rank as the 14th most expensive city. Two bedroom prices saw a smaller bump, increasing 1.6% to $1,900.
–New Orleans, LA jumped four spots to rank as the 17th priciest rental market. One bedrooms saw rent jump 5.3% to $1,380, while two bedrooms decreased 1.4% to $1,460.
–Nashville, TN one bedrooms had both a large monthly and yearly growth rate, climbing 4.2% to $1,230 this month and up nearly 10% since this time last year. This city rose three spots to rank as 24th.
–Charlotte, NC grew five spots to become the 28th priciest city with one bedroom rent jumping 5.4% to $1,170 and two bedrooms increasing 1.6% to $1,250.
–Austin, TX one bedroom rent climbed four spots and 4.5%, settling at $1,150, now ranking as 30th. Two bedroom prices grew 2.9% to $1,420.
Downward
–Providence, RI rent dropped 4.9%, settling at $1,360, and five spots to rank as the 19th most expensive in the nation. Two bedrooms saw a similar trend, down 5% to $1,530.
–Pittsburgh, PA took a 5 ranking dip to become the 28th priciest rental market. One bedroom rent fell 4.9% to $1,170, while two bedrooms remained flat at $1,330.
–Durham, NC one bedroom rent decreased 3% to $960, falling four spots to become the 45th most expensive city.
–Buffalo, NY saw the largest monthly rent dip in the nation, falling 5.4% and eight spots to rank as 54th. One bedrooms settled at $880 while two bedrooms decreased 5.3% to $1,070.
–Milwaukee, WI fell seven spots to become the 60th priciest rental market. One bedroom prices decreased 2.3% to $840, while two bedrooms dropped 1.1% to $890.
Full Data
| 1 Bedroom | 2 Bedrooms | ||||||
|---|---|---|---|---|---|---|---|
| Pos. | City | Price | M/M % | Y/Y % | Price | M/M % | Y/Y % |
| 1 | San Francisco, CA | $3,390 | -0.90% | 1.80% | $4,380 | -2.70% | -2.70% |
| 2 | New York, NY | $2,900 | 1.00% | -3.30% | $3,360 | 5.00% | -1.20% |
| 3 | San Jose, CA | $2,400 | 1.70% | 9.10% | $2,870 | 5.10% | 8.70% |
| 4 | Washington, DC | $2,330 | 1.70% | 11.50% | $3,060 | -2.50% | 14.20% |
| 5 | Boston, MA | $2,250 | 2.30% | 0.40% | $2,690 | 3.10% | 4.30% |
| 6 | Los Angeles, CA | $2,200 | 4.80% | 8.40% | $3,180 | 1.30% | 6.40% |
| 7 | Oakland, CA | $2,060 | 5.10% | -6.40% | $2,500 | -2.00% | -7.10% |
| 8 | Seattle, WA | $1,840 | 2.20% | 0.50% | $2,410 | -1.20% | -3.20% |
| 9 | Miami, FL | $1,750 | 0.00% | -2.80% | $2,400 | -1.20% | -4.00% |
| 10 | Honolulu, HI | $1,700 | -1.70% | 0.00% | $2,110 | -0.50% | -11.00% |
| 11 | San Diego, CA | $1,690 | 2.40% | 8.30% | $2,210 | -1.80% | 2.30% |
| 12 | Chicago, IL | $1,530 | 0.00% | -15.90% | $2,180 | 0.00% | -11.40% |
| 13 | Fort Lauderdale, FL | $1,500 | -1.30% | 0.00% | $1,900 | -2.60% | -5.00% |
| 14 | Long Beach, CA | $1,430 | 5.10% | 5.10% | $1,900 | 1.60% | 5.60% |
| 15 | Denver, CO | $1,410 | 1.40% | 15.60% | $1,810 | 3.40% | 13.10% |
| 15 | Philadelphia, PA | $1,410 | 0.70% | 0.70% | $1,600 | 0.00% | 6.00% |
| 17 | New Orleans, LA | $1,380 | 5.30% | -4.20% | $1,460 | -1.40% | -13.10% |
| 18 | Atlanta, GA | $1,370 | -0.70% | 3.00% | $1,750 | 4.20% | 4.80% |
| 19 | Providence, RI | $1,360 | -4.90% | -1.40% | $1,530 | -5.00% | 6.30% |
| 20 | Portland, OR | $1,330 | -1.50% | -1.50% | $1,540 | -1.30% | -3.80% |
| 21 | Dallas, TX | $1,320 | -1.50% | 6.50% | $1,740 | -3.30% | 4.20% |
| 21 | Scottsdale, AZ | $1,320 | 4.80% | 12.80% | $2,100 | -2.30% | -1.90% |
| 23 | Houston, TX | $1,260 | 5.00% | 15.60% | $1,560 | 4.00% | 14.70% |
| 24 | Nashville, TN | $1,230 | 4.20% | 9.80% | $1,300 | 0.00% | 1.60% |
| 25 | Madison, WI | $1,210 | 0.00% | -1.60% | $1,300 | 0.00% | -9.10% |
| 25 | Minneapolis, MN | $1,210 | 0.00% | -12.30% | $1,720 | -4.40% | -5.50% |
| 27 | Baltimore, MD | $1,180 | 0.90% | 15.70% | $1,400 | 2.90% | 9.40% |
| 28 | Charlotte, NC | $1,170 | 5.40% | 5.40% | $1,250 | 1.60% | 4.20% |
| 28 | Pittsburgh, PA | $1,170 | -4.90% | -7.90% | $1,330 | 0.00% | -5.00% |
| 30 | Austin, TX | $1,150 | 4.50% | -3.40% | $1,420 | 2.90% | -5.30% |
| 30 | Orlando, FL | $1,150 | -1.70% | 15.00% | $1,300 | 0.80% | 8.30% |
| 30 | Plano, TX | $1,150 | 2.70% | 6.50% | $1,490 | 0.00% | 0.70% |
| 30 | Sacramento, CA | $1,150 | 0.00% | 15.00% | $1,350 | 0.00% | 15.40% |
| 34 | Irving, TX | $1,120 | 0.00% | 9.80% | $1,420 | 5.20% | 10.90% |
| 35 | Gilbert, AZ | $1,100 | 4.80% | 13.40% | $1,360 | 0.00% | 11.50% |
| 35 | Tampa, FL | $1,100 | 3.80% | 15.80% | $1,310 | 4.80% | 13.90% |
| 37 | Aurora, CO | $1,050 | 5.00% | 7.10% | $1,320 | -2.20% | 4.80% |
| 37 | Chandler, AZ | $1,050 | 5.00% | 14.10% | $1,210 | -0.80% | 8.00% |
| 39 | Richmond, VA | $1,040 | 5.10% | 13.00% | $1,130 | 1.80% | 13.00% |
| 40 | Virginia Beach, VA | $1,030 | 0.00% | 10.80% | $1,200 | 0.80% | 4.30% |
| 41 | Newark, NJ | $1,000 | 0.00% | 6.40% | $1,200 | 0.00% | 4.30% |
| 42 | Fort Worth, TX | $990 | 5.30% | 10.00% | $1,230 | 2.50% | 12.80% |
| 42 | Henderson, NV | $990 | 5.30% | 4.20% | $1,100 | -0.90% | 0.00% |
| 44 | Raleigh, NC | $980 | 1.00% | 4.30% | $1,100 | 1.90% | 0.00% |
| 45 | Durham, NC | $960 | -3.00% | 4.30% | $1,100 | 0.00% | 0.90% |
| 46 | Anchorage, AK | $940 | 4.40% | 2.20% | $1,150 | 4.50% | 0.00% |
| 46 | Jacksonville, FL | $940 | 4.40% | 9.30% | $1,050 | 1.00% | 1.90% |
| 46 | St Petersburg, FL | $940 | 4.40% | 10.60% | $1,330 | 4.70% | -3.60% |
| 49 | Louisville, KY | $930 | 3.30% | 14.80% | $980 | 2.10% | 10.10% |
| 49 | Salt Lake City, UT | $930 | 4.50% | 10.70% | $1,240 | -0.80% | 15.90% |
| 49 | Syracuse, NY | $930 | 2.20% | 14.80% | $980 | 3.20% | 3.20% |
| 52 | Corpus Christi, TX | $900 | 4.70% | 5.90% | $1,000 | 0.00% | 1.00% |
| 53 | Phoenix, AZ | $890 | 4.70% | 6.00% | $1,080 | -0.90% | 5.90% |
| 54 | Buffalo, NY | $880 | -5.40% | -7.40% | $1,070 | -5.30% | -9.30% |
| 55 | Fresno, CA | $870 | 4.80% | 2.40% | $1,000 | 1.00% | 5.30% |
| 55 | Kansas City, MO | $870 | 4.80% | 8.70% | $1,000 | 0.00% | 5.30% |
| 57 | Chesapeake, VA | $860 | 0.00% | -11.30% | $1,180 | 0.00% | 7.30% |
| 58 | Baton Rouge, LA | $850 | 3.70% | 1.20% | $890 | 1.10% | -9.20% |
| 58 | San Antonio, TX | $850 | 2.40% | -2.30% | $1,060 | 3.90% | -4.50% |
| 60 | Colorado Springs, CO | $840 | 5.00% | 2.40% | $1,050 | -4.50% | 2.90% |
| 60 | Las Vegas, NV | $840 | 5.00% | 12.00% | $1,000 | 2.00% | 5.30% |
| 60 | Mesa, AZ | $840 | 5.00% | 10.50% | $940 | 2.20% | 2.20% |
| 60 | Milwaukee, WI | $840 | -2.30% | 6.30% | $890 | -1.10% | 1.10% |
| 64 | Boise, ID | $830 | 0.00% | 12.20% | $930 | 0.00% | 8.10% |
| 65 | Reno, NV | $820 | 5.10% | 15.50% | $1,130 | 3.70% | 15.30% |
| 66 | Omaha, NE | $790 | -1.30% | 6.80% | $930 | -2.10% | 3.30% |
| 67 | Des Moines, IA | $750 | 5.60% | -8.50% | $800 | -2.40% | -4.80% |
| 67 | Lexington, KY | $750 | 5.60% | 2.70% | $920 | 2.20% | 3.40% |
| 69 | Chattanooga, TN | $730 | 4.30% | 4.30% | $770 | 0.00% | 1.30% |
| 69 | Rochester, NY | $730 | 2.80% | 2.80% | $850 | 0.00% | 0.00% |
| 69 | Spokane, WA | $730 | 2.80% | 14.10% | $850 | -1.20% | 9.00% |
| 72 | Bakersfield, CA | $720 | 4.30% | 10.80% | $850 | -1.20% | 6.30% |
| 72 | Laredo, TX | $720 | -5.30% | -10.00% | $900 | 2.30% | -4.30% |
| 74 | Arlington, TX | $710 | 2.90% | 4.40% | $940 | 1.10% | 4.40% |
| 74 | Knoxville, TN | $710 | 4.40% | 4.40% | $780 | -1.30% | -2.50% |
| 76 | Cleveland, OH | $700 | -1.40% | 14.80% | $750 | 0.00% | 1.40% |
| 76 | Glendale, AZ | $700 | 4.50% | 1.40% | $890 | -5.30% | 4.70% |
| 78 | Norfolk, VA | $690 | 1.50% | 1.50% | $850 | -4.50% | 2.40% |
| 78 | St Louis, MO | $690 | 4.50% | -5.50% | $970 | 5.40% | -3.00% |
| 80 | Cincinnati, OH | $680 | 0.00% | 1.50% | $970 | 0.00% | 14.10% |
| 80 | Oklahoma City, OK | $680 | 4.60% | 7.90% | $760 | -3.80% | -3.80% |
| 80 | Winston Salem, NC | $680 | 1.50% | -1.40% | $730 | 0.00% | -2.70% |
| 83 | Greensboro, NC | $660 | 4.80% | 0.00% | $780 | 0.00% | 6.80% |
| 83 | Tucson, AZ | $660 | 4.80% | 3.10% | $800 | 0.00% | 5.30% |
| 85 | Augusta, GA | $650 | 4.80% | -7.10% | $730 | -5.20% | -9.90% |
| 85 | Columbus, OH | $650 | -4.40% | 8.30% | $960 | -1.00% | 4.30% |
| 85 | Memphis, TN | $650 | 0.00% | 8.30% | $700 | 0.00% | 7.70% |
| 85 | Tallahassee, FL | $650 | 3.20% | -3.00% | $760 | -2.60% | 1.30% |
| 89 | Albuquerque, NM | $630 | -1.60% | 0.00% | $800 | -2.40% | -3.60% |
| 89 | El Paso, TX | $630 | 5.00% | -1.60% | $750 | 1.40% | -1.30% |
| 89 | Indianapolis, IN | $630 | 5.00% | 10.50% | $700 | -2.80% | 4.50% |
| 92 | Tulsa, OK | $620 | 5.10% | 8.80% | $730 | 1.40% | -2.70% |
| 93 | Lincoln, NE | $610 | 1.70% | -15.30% | $820 | -4.70% | -12.80% |
| 94 | Detroit, MI | $580 | 5.50% | 5.50% | $650 | 0.00% | 3.20% |
| 94 | Shreveport, LA | $580 | 3.60% | 3.60% | $640 | 3.20% | -9.90% |
| 96 | Lubbock, TX | $550 | 0.00% | -1.80% | $700 | 0.00% | 0.00% |
| 96 | Toledo, OH | $550 | 1.90% | 14.60% | $630 | 3.30% | 14.50% |
| 98 | Akron, OH | $540 | 0.00% | 5.90% | $680 | 4.60% | 13.30% |
| 99 | Wichita, KS | $510 | 4.10% | 0.00% | $670 | 1.50% | 3.10% |
| 100 | Fort Wayne, IN | $490 | 4.30% | 0.00% | $550 | 0.00% | -11.30% |
About
The Zumper National Rent Report analyses rental data from over 1 million active listings across the United States. Data is aggregated on a monthly basis to calculate median asking rents for the top 100 metro areas by population, providing a comprehensive view of the current state of the market. The report is based on all data available in the month prior to publication.
If you’re interested in a more in-depth explanation of how and why we calculate our rent data, view our methodology post here.
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This post first appeared on The Zumper Blog | Rental Market Trends, Real Estat, please read the originial post: here
