Recently, Zumper released its National Rent Report for August 2017. With over 1 million active listings across the United States, the company analyzed rental data for the top 100 metro areas by population, providing a comprehensive view of the current state of the market.
What They Found
* One-bedroom apartments increase in rental rates by 1.2% or to an average of $1,176 per apartment nationally.
* Two-bedroom rental rates only changed by .6%, increasing rent to $1,399 per apartment.
* The top five rental markets were: 1) San Francisco; 2) New York; 3) San Jose; 4) Washington DC and Boston (tied); 5) Los Angeles.
* Markets with notable increases included Pittsburgh, Denver, Irvine, Plano, and Gilbert (AZ).
* Markets with notable decreases included New Orleans, Sacramento, Scottsdale, Chicago, and St. Petersburg.
View the entire 100-market rent index report by visiting Zumper’s report here.