The top 3 markets all saw dips in Rent prices last month as New York City fell from its 3 year high and San Francisco continued its downward trend. The rankings for the top 10 saw some movement in the middle and bottom, as Washington D.C moved up to become 6th, pushing Los Angeles down to 7th, and San Diego and Anaheim move into the top cities, both tied as 10th. Oakland also had a large 5.2% monthly one Bedroom rental growth rate but remained firmly as 4th.
The rest of the nation saw more dramatic monthly rental growth rates, between 4-5%, along with a handful of double digit year over year growth rates as well, picking up from a relatively flatter past couple of months in both regard.
While Columbus had the fastest growing rent in the nation last month, up 5.7%, Santa Ana saw the biggest rent dip, decreasing 5.1% to $1,690.
Overall, the national one bedroom rent grew 1% to $1,250, while two bedrooms increased 0.5% to $1,493. On a year to date basis, one and two bedroom prices are up 2.4% and 2.2%, respectively.
Top Five Rental Markets
1. San Francisco, CA one bedroom rent continued to follow a downward trend last month as it fell 1.7% to $3,540. Meanwhile, two bedrooms stayed flat at $4,790.
2. New York, NY saw one bedroom rent drop 0.7% to $3,030, moving down from the previous month’s record, while two bedrooms decreased 0.3% to $3,440.
3. San Jose, CA stayed the 3rd priciest city with one bedroom rent falling 0.8% to $2,520, while two bedrooms increased 0.3% to $3,000.
4. Boston, MA had a flat month as both one and two bedrooms stayed at $2,500 and $2,900, respectively.
5. Oakland, CA was the only city in the top 5 markets that had substantial rental growth rates as one bedroom rent jumped 5.2% to $2,420, while two bedrooms climbed 5.1% to $2,860.
Notable Changes This Month
Upward
–Columbus, OH one bedroom rent had the largest monthly growth rate, up 5.7% to $740. This huge bump also moved up the city 1 spot in our rankings to become the 88th priciest city.
–Memphis, TN one bedroom rent climbed 5.5%, settling at $770, and up 2 positions to rank as the 84th most expensive. Two bedrooms had more modest growth, increasing 1.2% to $820.
–Reno, NV catapulted up 6 spots to 56th with one bedroom rent jumping 5.5% to $960, while two bedrooms grew 5.3% to $1,380.
–Akron, OH one bedroom rent, though ranking as the most affordable in the nation, had a large monthly growth rate, climbing 5.5% to $580.
–Providence, RI moved up 2 positions to rank as the 15th priciest city with one bedroom rent jumping 5.3% last month to $1,580.
Downward
–Santa Ana, CA saw one bedroom rent drop 5.1%, which was the largest monthly dip in the nation, to $1,690 and fall 3 spots to become 12th. Two bedrooms decreased 3.7% to $2,100.
–Aurora, CO took a 7 ranking dip to 40th with one bedroom rent falling 5% to $1,130.
–New Orleans, LA moved down 5 positions to rank as the 24th most expensive city with one bedroom rent decreasing 4.9% to $1,360.
–Lubbock, TX dropped 2 spots to become the 99th priciest city with one bedroom rent falling 4.8% to $600 and two bedrooms decreasing 1.3% to $790.
–Spokane, WA one bedroom rent took a 10 ranking plunge to 77th due to its 4.7% decrease to $810. Two bedrooms also had a downward month, falling 2% to $980.
Full Data
| 1 Bedroom | 2 Bedrooms | ||||||
|---|---|---|---|---|---|---|---|
| Pos. | City | Price | M/M % | Y/Y % | Price | M/M % | Y/Y % |
| 1 | San Francisco, CA | $3,540 | -1.70% | -0.80% | $4,790 | 0.00% | 1.90% |
| 2 | New York, NY | $3,030 | -0.70% | 5.60% | $3,440 | -0.30% | 5.20% |
| 3 | San Jose, CA | $2,520 | -0.80% | -1.20% | $3,000 | 0.30% | 1.00% |
| 4 | Boston, MA | $2,500 | 0.00% | 8.20% | $2,900 | 0.00% | 7.40% |
| 5 | Oakland, CA | $2,420 | 5.20% | 13.60% | $2,860 | 5.10% | 9.20% |
| 6 | Washington, DC | $2,290 | 3.20% | 6.00% | $2,910 | 5.10% | 3.60% |
| 7 | Los Angeles, CA | $2,270 | 1.80% | -2.20% | $3,150 | -1.30% | -1.60% |
| 8 | Seattle, WA | $1,880 | -1.10% | -3.60% | $2,410 | 2.60% | -0.80% |
| 9 | Miami, FL | $1,760 | -1.10% | -2.20% | $2,300 | 0.00% | -3.40% |
| 10 | Anaheim, CA | $1,750 | 1.20% | 4.20% | $2,130 | -4.50% | 0.00% |
| 10 | San Diego, CA | $1,750 | 0.00% | -3.30% | $2,450 | 2.10% | -1.60% |
| 12 | Santa Ana, CA | $1,690 | -5.10% | -7.70% | $2,100 | -3.70% | -1.90% |
| 13 | Denver, CO | $1,600 | 1.30% | 5.30% | $2,000 | 2.60% | 3.60% |
| 13 | Fort Lauderdale, FL | $1,600 | -3.00% | 8.80% | $2,100 | 0.00% | 5.00% |
| 15 | Providence, RI | $1,580 | 5.30% | 9.70% | $1,660 | 5.10% | 9.20% |
| 15 | Honolulu, HI | $1,580 | -0.60% | -8.70% | $2,200 | 0.00% | 4.80% |
| 17 | Long Beach, CA | $1,550 | 0.00% | -1.30% | $2,100 | 0.00% | 4.00% |
| 18 | Chicago, IL | $1,450 | -1.40% | -4.60% | $1,790 | -0.60% | -3.80% |
| 18 | Philadelphia, PA | $1,450 | 5.10% | -5.80% | $1,700 | 0.00% | -1.70% |
| 20 | Atlanta, GA | $1,400 | 0.70% | -4.80% | $1,780 | 1.70% | -4.80% |
| 20 | Portland, OR | $1,400 | 3.70% | 0.00% | $1,780 | 4.70% | 8.50% |
| 22 | Scottsdale, AZ | $1,390 | -2.80% | 12.10% | $1,980 | -1.50% | 4.20% |
| 23 | Minneapolis, MN | $1,380 | -1.40% | -2.10% | $1,810 | 0.60% | -5.20% |
| 24 | New Orleans, LA | $1,360 | -4.90% | -0.70% | $1,610 | 5.20% | 3.90% |
| 25 | Orlando, FL | $1,310 | 0.80% | 5.60% | $1,460 | -0.70% | 0.00% |
| 25 | Sacramento, CA | $1,310 | 0.80% | 4.00% | $1,490 | -0.70% | 2.10% |
| 27 | Charlotte, NC | $1,280 | -3.00% | 11.30% | $1,430 | 0.70% | 10.90% |
| 28 | Dallas, TX | $1,240 | 0.80% | -1.60% | $1,710 | 0.60% | 0.00% |
| 29 | Nashville, TN | $1,230 | 5.10% | -9.60% | $1,400 | 3.70% | 0.00% |
| 30 | Austin, TX | $1,210 | 0.80% | 0.80% | $1,530 | -0.60% | 2.70% |
| 30 | Gilbert, AZ | $1,210 | 0.00% | 12.00% | $1,480 | 0.70% | 10.40% |
| 30 | Newark, NJ | $1,210 | 5.20% | 8.00% | $1,550 | 3.30% | 11.50% |
| 33 | Chandler, AZ | $1,200 | -0.80% | 14.30% | $1,470 | 0.70% | 14.00% |
| 33 | Madison, WI | $1,200 | 0.00% | -7.00% | $1,360 | 3.00% | -3.50% |
| 33 | Plano, TX | $1,200 | 2.60% | 4.30% | $1,660 | 1.80% | 6.40% |
| 67 | Laredo, TX | $870 | 4.80% | 4.80% | $920 | 4.50% | -7.10% |
| 36 | Baltimore, MD | $1,180 | 0.00% | -15.10% | $1,480 | 4.20% | -14.90% |
| 36 | Fort Worth, TX | $1,180 | 1.70% | 11.30% | $1,370 | 5.40% | 3.00% |
| 38 | Tampa, FL | $1,160 | 2.70% | -0.90% | $1,300 | -1.50% | -6.50% |
| 39 | St Petersburg, FL | $1,150 | 4.50% | 13.90% | $1,560 | 0.60% | 2.60% |
| 40 | Aurora, CO | $1,130 | -5.00% | -0.90% | $1,500 | 0.00% | 4.20% |
| 40 | Henderson, NV | $1,130 | 0.00% | 5.60% | $1,350 | 0.00% | 7.10% |
| 40 | Irving, TX | $1,130 | -0.90% | 1.80% | $1,500 | 0.00% | 2.70% |
| 40 | Pittsburgh, PA | $1,130 | 4.60% | 0.90% | $1,300 | 0.00% | -3.70% |
| 44 | Salt Lake City, UT | $1,120 | 4.70% | 7.70% | $1,440 | 5.10% | 6.70% |
| 45 | Durham, NC | $1,110 | 0.00% | -1.80% | $1,290 | 1.60% | 1.60% |
| 46 | Houston, TX | $1,100 | -4.30% | -12.70% | $1,350 | -3.60% | -15.60% |
| 47 | Virginia Beach, VA | $1,090 | -0.90% | 1.90% | $1,210 | -1.60% | -0.80% |
| 48 | Richmond, VA | $1,070 | 0.00% | 0.90% | $1,260 | 2.40% | 1.60% |
| 49 | Raleigh, NC | $1,060 | -1.90% | 6.00% | $1,250 | 4.20% | 5.00% |
| 50 | Buffalo, NY | $1,040 | 5.10% | -1.00% | $1,240 | 5.10% | -12.70% |
| 50 | Chesapeake, VA | $1,040 | 5.10% | 0.00% | $1,250 | 2.50% | 4.20% |
| 52 | Milwaukee, WI | $1,020 | 5.20% | 10.90% | $1,070 | 4.90% | -2.70% |
| 53 | Boise, ID | $1,010 | 5.20% | 7.40% | $1,090 | -0.90% | 9.00% |
| 54 | Las Vegas, NV | $1,000 | 1.00% | 7.50% | $1,210 | 5.20% | 7.10% |
| 54 | Phoenix, AZ | $1,000 | 0.00% | 3.10% | $1,260 | 0.80% | 6.80% |
| 56 | Reno, NV | $960 | 5.50% | 15.70% | $1,380 | 5.30% | 13.10% |
| 57 | Fresno, CA | $950 | -5.00% | 4.40% | $1,150 | 0.90% | 6.50% |
| 57 | Kansas City, MO | $950 | 0.00% | 0.00% | $1,100 | 2.80% | -1.80% |
| 57 | Syracuse, NY | $950 | -2.10% | 14.50% | $1,080 | 2.90% | 1.90% |
| 60 | Louisville, KY | $930 | 3.30% | 5.70% | $990 | 3.10% | -1.00% |
| 61 | Mesa, AZ | $920 | 1.10% | 4.50% | $1,160 | 0.00% | 14.90% |
| 62 | Anchorage, AK | $910 | -2.20% | 0.00% | $1,140 | -0.90% | 0.00% |
| 62 | Colorado Springs, CO | $910 | -2.20% | 1.10% | $1,190 | -0.80% | 6.30% |
| 62 | Jacksonville, FL | $910 | -1.10% | -6.20% | $1,050 | 0.00% | -4.50% |
| 65 | San Antonio, TX | $900 | 1.10% | -1.10% | $1,140 | 3.60% | -2.60% |
| 66 | Rochester, NY | $880 | 4.80% | 6.00% | $1,030 | 5.10% | 3.00% |
| 68 | Arlington, TX | $860 | 4.90% | 6.20% | $1,120 | 2.80% | 2.80% |
| 69 | Cleveland, OH | $850 | 4.90% | 9.00% | $910 | 4.60% | 3.40% |
| 69 | Corpus Christi, TX | $850 | 0.00% | -1.20% | $1,070 | 0.00% | -0.90% |
| 69 | Glendale, AZ | $850 | -1.20% | 10.40% | $1,060 | -3.60% | 6.00% |
| 72 | Norfolk, VA | $840 | 5.00% | 2.40% | $1,020 | -4.70% | 7.40% |
| 73 | Knoxville, TN | $830 | 3.80% | 1.20% | $950 | 5.60% | 2.20% |
| 73 | St Louis, MO | $830 | 5.10% | 5.10% | $1,200 | 4.30% | 6.20% |
| 75 | Chattanooga, TN | $820 | 5.10% | 6.50% | $930 | 4.50% | 14.80% |
| 75 | Cincinnati, OH | $820 | 5.10% | 2.50% | $1,180 | 5.40% | 9.30% |
| 77 | Omaha, NE | $810 | -2.40% | -3.60% | $1,020 | -2.90% | -8.10% |
| 77 | Spokane, WA | $810 | -4.70% | 9.50% | $980 | -2.00% | 8.90% |
| 77 | Winston Salem, NC | $810 | 5.20% | 1.30% | $850 | 2.40% | 1.20% |
| 80 | Baton Rouge, LA | $800 | -2.40% | -4.80% | $920 | 1.10% | -2.10% |
| 80 | Tallahassee, FL | $800 | 5.30% | 9.60% | $910 | 3.40% | 5.80% |
| 82 | Augusta, GA | $780 | 4.00% | 9.90% | $830 | 0.00% | 0.00% |
| 82 | Des Moines, IA | $780 | -3.70% | -9.30% | $860 | 0.00% | -6.50% |
| 84 | Indianapolis, IN | $770 | 2.70% | 14.90% | $850 | 4.90% | 6.30% |
| 84 | Memphis, TN | $770 | 5.50% | 2.70% | $820 | 1.20% | 2.50% |
| 86 | Bakersfield, CA | $760 | 4.10% | 0.00% | $900 | 0.00% | 1.10% |
| 87 | Lexington, KY | $750 | 0.00% | 0.00% | $960 | -2.00% | 5.50% |
| 88 | Columbus, OH | $740 | 5.70% | -7.50% | $1,130 | 2.70% | 7.60% |
| 89 | Greensboro, NC | $730 | 0.00% | 0.00% | $850 | 0.00% | 3.70% |
| 90 | Oklahoma City, OK | $720 | 4.30% | 0.00% | $890 | 0.00% | 3.50% |
| 91 | Albuquerque, NM | $700 | 0.00% | 4.50% | $890 | 4.70% | 7.20% |
| 91 | Lincoln, NE | $700 | 4.50% | -1.40% | $930 | 4.50% | -3.10% |
| 93 | Tulsa, OK | $660 | 0.00% | 4.80% | $810 | 0.00% | 3.80% |
| 94 | El Paso, TX | $650 | 0.00% | 3.20% | $770 | -2.50% | 0.00% |
| 94 | Tucson, AZ | $650 | 0.00% | 3.20% | $880 | -1.10% | 3.50% |
| 96 | Detroit, MI | $640 | 4.90% | 1.60% | $720 | 4.30% | 0.00% |
| 96 | Shreveport, LA | $640 | -1.50% | 0.00% | $740 | 5.70% | 2.80% |
| 98 | Wichita, KS | $630 | 3.30% | 5.00% | $740 | -1.30% | -3.90% |
| 99 | Lubbock, TX | $600 | -4.80% | -3.20% | $790 | -1.30% | 2.60% |
| 100 | Akron, OH | $580 | 5.50% | 7.40% | $710 | 0.00% | -4.10% |
About
The Zumper National Rent Report analyzes 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: September 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
