Rental information site Zumper recently released their National Rent Report for July showing that the median national rent for 1-bedroom apartment rose slightly to $1,209 (up 1%) while the two-bedroom average barely grew, coming in at $1,442 (up 0.4%). However they do report that, year over year, one and two bedrooms are up 4% and 3.7% respectively. 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 look at their entire list of 100 cities.
“The majority of the nation had generally small monthly growth rates, with the biggest changes seen in Providence, where one bedroom rent dropped 5.3% last month, and Columbus, where rent grew 5.5%. However, on a year over year basis, more than half of these 100 cities had large spikes in growth rates that were over 10%. Meanwhile, the top 10 markets had the some of the softest monthly and year over year changes.”