Rental information site Zumper recently released their latest monthly National Rent Report for October, 2023. According to their data, median rent for 1-bedroom apartments was $1,505 (down 0.4% from September) and $1,862 (down 0.2% from September) for two-bedrooms. Be sure to check out their list of the top 100 metro areas.
“If the current pattern continues, we’ll likely see negative year-over-year growth by the end of winter…Demand remains soft while a record amount of supply is hitting the market, creating a lot of uncertainty and distress throughout the real estate industry—especially for companies and individuals that invested heavily in multifamily developments over the last five years.” Said Zumper CEO Anthemos Georgiades.
Click here to read the full report at Zumper.
