The Zumper New York City Metro Area Report analyzed active listings in October 2019 across 25 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 $2,004 last month.
The Most Expensive
–New York City was the most expensive city with one bedrooms priced at $3,000.
–Hoboken rent decreased 0.8% last month to $2,570 and ranked as the second priciest city.
–Fort Lee remained third with rent priced at $2,490.
The Least Expensive
–Bridgeport ranked as the most affordable city with one bedrooms priced at $1,110.
–Kingston was second with rent at $1,120.
–East Orange remained third, though rent grew 1.7% to $1,170.
The Fastest Growing (Y/Y%)
–Long Branch had the fastest growing rent, up 15.3% since this time last year.
–Newark saw rent climb 14.3%, making it the second fastest growing.
–New Brunswick was third with rent growing 6.7%.
The Fastest Growing (M/M%)
–Yonkers had the largest monthly rental growth rate, up 5.3%.
–Englewood rent jumped 5.0% last month, making it the second fastest growing.
–West New York ranked as third with rent up 4.9%.
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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