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Zumper National Rent Report: February 2019

While most of the top markets had another flat month, there was some movement toward the bottom of these 10 cities. Miami fell out of this group, being replaced by Santa Ana, so now 6 of the 10 most expensive rental markets are in California (again).

In the rest of the nation, less cities saw double digit growth rates than last month as we are heavily entrenched in the slow moving season. On a monthly basis, Louisville had the largest rental growth rate for one bedrooms, at 4.8%, while Columbus took the biggest rent dip, down 5.4%.

Overall, the national one bedroom median rent fell 0.4% to $1,212, while two bedrooms increased a slight 0.1% to $1,442 last month. On a year to date basis, one Bedroom Rent is down 2.5%, while two bedrooms are up 3.7%.

Top Five Rental Markets

1. San Francisco, CA saw one bedroom rent grow 2.3% to $3,580, while two bedrooms decreased a slight 0.2% to $4,640.

2. New York, NY one bedroom rent increased 1.1% to $2,780, while two bedrooms grew 2.9% to $3,200.

3. San Jose, CA remained the 3rd priciest city with one bedroom rent growing 1.6% to $2,530, while two bedrooms increased 1% to $3,030.

4. Boston, MA saw one bedroom rent fall 1.2% to $2,420, while two bedrooms grew 1.5% to $2,740.

5. Los Angeles, CA followed closely behind Boston as the 5th most expensive city. One bedroom rent decreased a slight 0.8% to $2,400, while two bedrooms saw an even smaller dip, down 0.6% to $3,200.

Notable Changes This Month

upUpward

–Long Beach, CA moved up 2 spots to rank as the 13th most expensive city. One bedroom rent grew 4.4% to $1,670, while two bedrooms increased 0.5% to $2,110.

–Chicago, IL, after many months of declining or flat prices, saw one bedroom rent jump 4.7% to $1,570 last month, and in effect, move up 2 positions to become 16th. Two bedrooms increased 2.2% to $1,890.

–Fort Worth, TX saw rent climb 3.8%, settling at $1,100, and up 3 spots to rank as the 44th priciest city. Two bedrooms, on the other hand, remained flat at $1,230.

–Syracuse, NY one bedroom rent jumped up 4.4% to $940 and also inched up 1 spot to become 60th.

–Louisville, KY saw a 4 ranking bump up to 64th with one bedroom rent growing 4.8% to $880, while two bedrooms had an even larger increase, up 5% to $1,050.

downDownward

–Providence, RI dropped 2 spots to rank as the 18th most expensive city. One bedroom rent fell 5.1% to $1,490, while two bedrooms decreased 4.9% to $1,560.

–Virginia Beach, VA saw one bedroom rent decline 4.8% to $1,000, while two bedrooms stayed flat at $1,200.

–Des Moines, IA took an 8 ranking dip to 73rd with one bedroom rent falling 5.8%, which was the largest monthly decrease in the nation, to $810. Two bedrooms decreased 4.4% to $860.

–St. Louis, MO saw a 7 position plunge down to 77th with one bedroom rent dropping 4.8% to $790.

–Columbus, OH moved down 3 spots to become the 90th priciest city with one bedroom rent falling 5.4% to $700.

Full Data

  1 Bedroom  2 Bedrooms  
Pos.CityPriceM/M %Y/Y %PriceM/M %Y/Y %
1San Francisco, CA$3,5802.30%5.30%$4,6400%5.50%
2New York, NY$2,7801.10%-3.10%$3,2003%-2.40%
3San Jose, CA$2,5301.60%2.80%$3,0301%9.00%
4Boston, MA$2,420-1.20%5.20%$2,7402%1.50%
5Los Angeles, CA$2,400-0.80%8.10%$3,200-0.60%0.00%
6Oakland, CA$2,3700.90%12.90%$2,860-4.70%15.80%
7Washington, DC$2,1301.40%-6.60%$2,6500.40%-10.20%
8Seattle, WA$1,9402.10%6.00%$2,6002.40%8.30%
9San Diego, CA$1,910-2.10%11.70%$2,460-0.40%9.30%
10Santa Ana, CA$1,7800.00%7.90%$2,180-3.50%16.00%
11Miami, FL$1,760-2.20%-0.60%$2,4000.00%-2.00%
12Anaheim, CA$1,7103.60%6.20%$2,180-0.50%6.90%
13Honolulu, HI$1,670-1.20%1.20%$2,100-4.50%-4.50%
13Long Beach, CA$1,6704.40%11.30%$2,1100.50%9.30%
15Fort Lauderdale, FL$1,6401.90%13.10%$2,0000.00%8.70%
16Chicago, IL$1,5704.70%1.30%$1,8902.20%-8.70%
17Denver, CO$1,510-1.30%8.60%$1,930-1.00%6.00%
18Atlanta, GA$1,4900.70%4.20%$1,8802.20%1.60%
18Providence, RI$1,490-5.10%6.40%$1,560-4.90%8.30%
20New Orleans, LA$1,430-1.40%15.30%$1,5300.00%8.50%
21Minneapolis, MN$1,4000.00%6.10%$1,9301.60%9.70%
22Philadelphia, PA$1,390-3.50%-0.70%$1,7402.40%16.00%
22Scottsdale, AZ$1,3900.70%3.70%$1,9101.10%-11.60%
24Portland, OR$1,3700.70%3.00%$1,7003.00%6.30%
25Baltimore, MD$1,3500.00%7.10%$1,5902.60%8.20%
26Nashville, TN$1,3400.80%3.90%$1,4001.40%0.00%
27Orlando, FL$1,290-0.80%14.20%$1,470-0.70%13.10%
28Sacramento, CA$1,270-2.30%6.70%$1,440-0.70%7.50%
29Dallas, TX$1,2500.00%-3.80%$1,650-1.80%-3.50%
30Madison, WI$1,220-0.80%1.70%$1,460-1.40%10.60%
31Aurora, CO$1,190-0.80%15.50%$1,4500.00%9.80%
32Austin, TX$1,170-4.10%1.70%$1,460-2.70%0.70%
33Charlotte, NC$1,1601.80%-3.30%$1,3100.80%5.60%
34Chandler, AZ$1,1500.00%8.50%$1,3701.50%14.20%
34Houston, TX$1,150-1.70%-4.20%$1,410-2.80%-4.70%
34Irving, TX$1,1501.80%-0.90%$1,4902.10%5.70%
34Newark, NJ$1,1500.00%10.60%$1,310-3.00%9.20%
34Pittsburgh, PA$1,1500.00%9.50%$1,3200.00%5.60%
39Tampa, FL$1,1403.60%3.60%$1,3400.00%3.90%
40Gilbert, AZ$1,1301.80%-0.90%$1,3502.30%0.70%
40Plano, TX$1,1301.80%-1.70%$1,5000.00%0.00%
40St Petersburg, FL$1,1300.00%15.30%$1,510-1.30%2.70%
43Durham, NC$1,1100.00%12.10%$1,2700.00%13.40%
44Fort Worth, TX$1,1003.80%11.10%$1,2300.00%1.70%
45Henderson, NV$1,0800.00%-0.90%$1,2801.60%7.60%
46Salt Lake City, UT$1,0700.00%12.60%$1,420-0.70%15.40%
47Richmond, VA$1,060-1.90%3.90%$1,240-3.10%6.90%
48Fresno, CA$1,0000.00%12.40%$1,1400.00%14.00%
48Raleigh, NC$1,0001.00%3.10%$1,150-2.50%0.00%
48Virginia Beach, VA$1,000-4.80%-9.90%$1,2000.00%0.00%
51Buffalo, NY$9900.00%10.00%$1,1800.00%12.40%
51Chesapeake, VA$9900.00%5.30%$1,2502.50%4.20%
51Las Vegas, NV$9900.00%11.20%$1,1500.00%15.00%
54Jacksonville, FL$970-3.00%-2.00%$1,080-1.80%2.90%
54Milwaukee, WI$9700.00%14.10%$1,0200.00%13.30%
56Boise, ID$9600.00%10.30%$1,1000.90%15.80%
56Reno, NV$9600.00%14.30%$1,3100.00%9.20%
58Colorado Springs, CO$9501.10%13.10%$1,110-2.60%8.80%
58Phoenix, AZ$950-2.10%2.20%$1,170-0.80%6.40%
60Kansas City, MO$9403.30%4.40%$1,0501.00%7.10%
60Syracuse, NY$9404.40%0.00%$9600.00%-3.00%
62San Antonio, TX$9001.10%5.90%$1,1500.90%6.50%
63Anchorage, AK$890-1.10%-1.10%$1,1000.00%0.00%
64Louisville, KY$8804.80%-3.30%$1,0505.00%9.40%
65Corpus Christi, TX$870-1.10%0.00%$1,1000.00%1.90%
65Mesa, AZ$8702.40%0.00%$1,0201.00%8.50%
67Glendale, AZ$8503.70%10.40%$9905.30%15.10%
68Rochester, NY$8400.00%9.10%$9800.00%5.40%
69Baton Rouge, LA$830-3.50%1.20%$940-3.10%4.40%
69Laredo, TX$8300.00%9.20%$910-4.20%1.10%
69Omaha, NE$8300.00%-1.20%$1,050-1.90%15.40%
72Arlington, TX$8200.00%13.90%$1,0900.00%13.50%
73Cleveland, OH$8100.00%14.10%$8700.00%16.00%
73Des Moines, IA$810-5.80%14.10%$860-4.40%14.70%
73Knoxville, TN$8101.30%8.00%$9000.00%8.40%
76Norfolk, VA$8000.00%14.30%$990-1.00%10.00%
77St Louis, MO$790-4.80%14.50%$1,1500.90%15.00%
78Chattanooga, TN$7800.00%2.60%$8900.00%11.30%
78Cincinnati, OH$7800.00%4.00%$1,1200.00%15.50%
78Lexington, KY$7802.60%4.00%$9801.00%5.40%
78Winston Salem, NC$7800.00%9.90%$8400.00%10.50%
82Tallahassee, FL$7600.00%11.80%$8800.00%10.00%
83Augusta, GA$7500.00%10.30%$800-1.20%1.30%
83Indianapolis, IN$750-1.30%15.40%$8100.00%11.00%
83Spokane, WA$7501.40%7.10%$9401.10%8.00%
86Memphis, TN$740-1.30%15.60%$800-1.20%15.90%
86Oklahoma City, OK$740-1.30%7.20%$8700.00%16.00%
88Greensboro, NC$7200.00%5.90%$820-1.20%3.80%
89Bakersfield, CA$7101.40%-6.60%$9001.10%3.40%
90Columbus, OH$700-5.40%14.80%$1,0700.00%12.60%
90Lincoln, NE$7000.00%14.80%$9300.00%14.80%
92Albuquerque, NM$660-1.50%10.00%$8300.00%3.80%
93Tucson, AZ$6401.60%-9.90%$8503.70%1.20%
93Tulsa, OK$6401.60%6.70%$8001.30%8.10%
95Lubbock, TX$6300.00%14.50%$750-2.60%7.10%
95Shreveport, LA$630-1.60%12.50%$7000.00%9.40%
97Detroit, MI$620-1.60%14.80%$7300.00%15.90%
97El Paso, TX$620-1.60%-1.60%$7801.30%5.40%
99Wichita, KS$6100.00%10.90%$720-4.00%7.50%
100Akron, OH$5603.70%5.70%$7400.00%12.10%

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.

To keep up to date with rent changes across the country, like or follow Zumper on Facebook, Twitter, and Instagram. In the market for a new place? Search apartments for rent on Zumper. 

The post Zumper National Rent Report: February 2019 appeared first on The Zumper Blog.



This post first appeared on The Zumper Blog | Rental Market Trends, Real Estat, please read the originial post: here

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Zumper National Rent Report: February 2019

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