Zumper’s National Rent Report for August 2020

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Rental information site Zumper recently released their National Rent Report for August, 2020 showing that their median national rent for 1-bedroom apartment was $1,233 (up 0.3%) and the median two-bedroom rent was $1,493 (up 0.6%).   Year to date, one-bedroom rent was up 0.7% and two-bedroom rents were up 1%.  Zumper says median rents continue to “tick up” during this summer moving season.  Indeed…

“In stark contrast to the nation’s most expensive cities, median rents in less expensive cities have been steadily increasing. Of the top 10 least expensive cities in the 100 tracked in this report, only one city, Tulsa, had a decrease in median rent for one-bedrooms, and growth averaged 5.2% in year-over-year terms.”

Zumper 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…..be sure to check out their entire list of 100 cities.

Click here to read the full report at Zumper.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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