The Zumper New York City Metro Area Report analyzed active listings in December 2019 across 30 metro cities to show the most and least expensive cities and cities with the fastest growing rents. The New York one bedroom median rent was $1,940 last month.
The Most Expensive
–New York City was the most expensive city with one bedrooms priced at $3,000.
–Hoboken rent grew 2.8% to $2,570 and ranked as the second priciest city.
–Fort Lee was third with rent at $2,530.
The Least Expensive
–Bridgeport remained the most affordable city with one bedrooms priced at $1,100.
–Paterson was second with rent at $1,200.
–Kingston ranked as the third least expensive, though rent grew 3.4% to $1,200.
The Fastest Growing (Y/Y%)
–Valley Stream had the fastest growing rent, up 15.8% since this time last year.
–Newark saw rent climb 15.7%, making it the second fastest growing.
–Long Branch was third with rent jumping 14.9%.
The Fastest Growing (M/M%)
–Newburg and Yonkers had the largest monthly rental growth rates, both up 5.3%.
–Jersey City and White Plains rents both jumped 5.2% last month, making them tied for second.
–East Orange and West New York rental growth rates tied for third, both climbing 5.0%.
About
The Zumper New York City Metro Area Report analyzed active listings that hit the market last month. Listings are aggregated by city to calculate median asking rents.
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