Rental information site Zumper recently released their National Rent Report for September, 2020 showing that their median national rent for 1-bedroom apartment was $1,233 (same as August) and the median two-bedroom rent was $1,490 (down 0.3%). Year to date, both one- and two-bedroom rent were up 0.7%. Interestingly, Zumper says 9 out of 10 of the most expensive cities accelerated their year-over-year declines – thanks to out-migration. Indeed…
“Despite significant price drops sustained thus far, the the nation’s most expensive rental markets do not appear to be slowing down in their decline as COVID-19 continues to keep Americans moving out of pricey, urban centers.”
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.
