While San Francisco renters can breathe some relief as one bedroom rent dropped back down to $3,600, New York City renters are on the opposite boat as one bedroom rent reached a new 3-year high of $3,050 (beating out the June 2019 report’s previous record). Some key factors of this spike in New York City prices seem to be due to potential buyers choosing to rent instead of own while the sales market softens, which creates more competition in the rental space. There’s also an influx of college grads and young professionals right now relocating to this city, driving up demand in an already demanding summer season.
For the rest of the top markets, Oakland moved back into the top 5, so 3 of the 5 most expensive cities resided in northern California. Honolulu has gotten further and further away from the top 10, dropping another spot to 14th in this report. In terms of monthly growth rates, 3 of the top 5 largest were located in the top 25 markets while the rest of the nation had a more stable month.
While Philadelphia had the fastest growing rent in the nation last month, up 5.3%, Houston saw the largest rent dip, down 5%.
Overall, the national one bedroom rent grew 1.1% last month to $1,233, while two bedrooms increased 0.5% to $1,477. On a year to date basis, one and two bedrooms are up 2.1% and 2.2% respectively.
Top Five Rental Markets
1. San Francisco, Californie one bedroom rent dropped from its peak in our last report, down 3.2% to $3,600. Two bedrooms decreased a slight 0.2% to $4,790.
2. New York, NY saw one bedroom rent grow 3.7% to reach $3,050, beating out the previous 3 year all time high we saw in our June 2019 report of $2,980. Two bedrooms also increased, climbing 2.1% to $3,450.
3. San Jose, CA remained the 3rd priciest city with one bedroom rent growing 1.6% to $2,540, while two bedrooms decrease 0.3% to $2,990.
4. Boston, Massachusetts one bedroom rent increased 2% to $2,500, while two bedrooms climbed 2.1% to $3,450.
5. Oakland, CA moved up 2 spots and into the top 5 markets as 5th, outpacing D.C. in our previous report, with one bedroom rent jumping 4.5% to $2,300. Two bedrooms, on the other hand, remained flat at $2,720.
Notable Changes This Month
Upward
–Philadelphie, Pennsylvanie one bedroom rent had the largest monthly growth rate in the nation, up 5.3% to $1,380. This large bump also moved the city up 1 spot to rank as the 23rd priciest city.
–Providence, RI saw one bedroom rent climb 4.9%, settling at $1,500, and up 1 rank to become the 17th most expensive market. Notably, one bedroom rent in this city is up 9.5% since this time last year.
–Spokane, WA was catapulted up 6 positions to 67th with one bedroom rent growing 4.9% to $850.
–Charlotte, Caroline du Nord moved up 1 spot to rank the 25th most expensive city with one bedroom rent climbing 4.8% to $1,320. Two bedrooms saw rent grow 3.6% to $1,420.
–Virginia Beach, VA jumped up 4 rankings to become 44th with one bedroom rent increasing 4.8% to $1,100.
Downward
–Houston, Texas had the largest monthly one bedroom rental decline in the country, down 5% to $1,150. This downturn moved the city down 8 spots to become 38th.
–Nashville, TN took a 6 ranking plunge to 35th with one bedroom rent falling 4.9% to $1,170.
–Honolulu, HI dropped another spot away from the top 10, ranking as 14th. One bedroom rent decreased 4.8% to $1,590, while two bedrooms declined 4.3% to $2,200.
–Irving, TX saw one bedroom rent dip 4.2%, settling at $1,140, and down 7 positions to become the 40th most expensive city.
–Tampa, Floride fell 5 spots to rank as 41st with one bedroom rent dropping 4.2% to $1,130 and two bedrooms decreasing 0.8% to $1,320.
Full Data
| 1 Bedroom | 2 Bedrooms | ||||||
|---|---|---|---|---|---|---|---|
| Pos. | City | Price | M/M % | Y/Y % | Price | M/M % | Y/Y % |
| 1 | San Francisco, Californie | $3,600 | -3.20% | 2.90% | $4,790 | -0.20% | 1.30% |
| 2 | New York, NY | $3,050 | 3.70% | 5.20% | $3,450 | 2.10% | 4.90% |
| 3 | San Jose, CA | $2,540 | 1.60% | -0.40% | $2,990 | -0.30% | -0.70% |
| 4 | Boston, Massachusetts | $2,500 | 2.00% | 6.80% | $2,900 | 2.10% | 5.50% |
| 5 | Oakland, CA | $2,300 | 4.50% | 9.50% | $2,720 | 0.00% | 8.80% |
| 6 | Los Angeles, Californie | $2,230 | 0.00% | -4.30% | $3,190 | 2.20% | -0.60% |
| 7 | Washington, D.C. | $2,220 | -0.90% | 3.30% | $2,770 | -2.80% | 3.00% |
| 8 | Seattle, WA | $1,900 | 2.70% | -3.10% | $2,350 | -2.10% | -4.10% |
| 9 | Miami, Floride | $1,780 | -0.60% | 0.00% | $2,300 | 0.00% | -3.40% |
| 9 | Santa Ana, CA | $1,780 | 0.00% | 0.60% | $2,180 | 0.00% | 1.90% |
| 11 | San Diego, CA | $1,750 | -0.60% | -5.40% | $2,400 | 0.00% | -2.40% |
| 12 | Anaheim, CA | $1,730 | 1.80% | 3.00% | $2,230 | 5.20% | 5.20% |
| 13 | Fort Lauderdale, FL | $1,650 | 3.10% | 10.00% | $2,100 | 0.00% | 6.60% |
| 14 | Honolulu, HI | $1,590 | -4.80% | -4.20% | $2,200 | -4.30% | 0.00% |
| 15 | Denver, Colorado | $1,580 | -1.30% | 5.30% | $1,950 | -1.50% | -1.50% |
| 16 | Long Beach, CA | $1,550 | 0.00% | -3.10% | $2,100 | 5.00% | 4.00% |
| 17 | Providence, RI | $1,500 | 4.90% | 9.50% | $1,580 | 0.00% | 3.90% |
| 18 | Chicago, Illinois | $1,470 | -1.30% | -2.60% | $1,800 | 0.00% | -2.70% |
| 19 | New Orleans, LA | $1,430 | 0.00% | 6.70% | $1,530 | 0.00% | 0.00% |
| 19 | Scottsdale, AZ | $1,430 | 3.60% | 13.50% | $2,010 | 5.20% | 3.10% |
| 21 | Minneapolis, MN | $1,400 | 0.00% | 0.70% | $1,800 | -1.60% | -3.20% |
| 22 | Atlanta, Géorgie | $1,390 | 1.50% | -4.80% | $1,750 | 0.60% | -6.40% |
| 23 | Philadelphie, Pennsylvanie | $1,380 | 5.30% | -8.00% | $1,700 | 0.00% | 0.00% |
| 24 | Portland, Oregon | $1,350 | -0.70% | -8.20% | $1,700 | -1.70% | -1.70% |
| 25 | Charlotte, Caroline du Nord | $1,320 | 4.80% | 11.90% | $1,420 | 3.60% | 10.10% |
| 26 | Orlando, Floride | $1,300 | -0.80% | 4.00% | $1,470 | -2.00% | 2.10% |
| 26 | Sacramento, CA | $1,300 | 3.20% | 8.30% | $1,500 | 2.00% | 6.40% |
| 28 | Dallas, Texas | $1,230 | -1.60% | -5.40% | $1,700 | -0.60% | -4.50% |
| 29 | Chandler, AZ | $1,210 | 0.00% | 15.20% | $1,460 | 0.70% | 14.10% |
| 29 | Gilbert, AZ | $1,210 | 0.80% | 12.00% | $1,470 | 2.80% | 9.70% |
| 31 | Austin, Texas | $1,200 | 0.80% | 0.80% | $1,540 | 2.00% | 4.10% |
| 31 | Madison, WI | $1,200 | 1.70% | -6.30% | $1,320 | -4.30% | -7.00% |
| 33 | Aurora, CO | $1,190 | 0.00% | 4.40% | $1,500 | 0.70% | 2.70% |
| 34 | Baltimore, MD | $1,180 | 0.00% | -14.50% | $1,420 | 2.20% | -15.00% |
| 35 | Nashville, TN | $1,170 | -4.90% | -14.60% | $1,350 | 0.00% | -6.90% |
| 35 | Plano, TX | $1,170 | 0.90% | -0.80% | $1,630 | 5.20% | 3.80% |
| 37 | Fort Worth, TX | $1,160 | 0.90% | 5.50% | $1,300 | -3.00% | -0.80% |
| 38 | Houston, Texas | $1,150 | -5.00% | -10.20% | $1,400 | 0.00% | -12.50% |
| 38 | Newark, NJ | $1,150 | 0.00% | 2.70% | $1,500 | 2.00% | 7.90% |
| 40 | Irving, TX | $1,140 | -4.20% | 0.00% | $1,500 | -3.20% | -2.60% |
| 41 | Henderson, NV | $1,130 | 0.00% | 6.60% | $1,350 | 0.00% | 8.90% |
| 41 | Tampa, Floride | $1,130 | -4.20% | -2.60% | $1,320 | -0.80% | -4.30% |
| 43 | Durham, NC | $1,110 | 0.00% | -1.80% | $1,270 | 0.00% | -3.10% |
| 44 | St Petersburg, FL | $1,100 | 0.00% | 5.80% | $1,550 | 0.60% | 3.30% |
| 44 | Virginia Beach, VA | $1,100 | 4.80% | 6.80% | $1,230 | 0.00% | 2.50% |
| 46 | Pittsburgh, PA | $1,080 | 1.90% | -0.90% | $1,300 | 0.00% | -3.00% |
| 46 | Raleigh, NC | $1,080 | 3.80% | 8.00% | $1,200 | 0.00% | 0.80% |
| 48 | Richmond, VA | $1,070 | -0.90% | 1.90% | $1,230 | 0.00% | -1.60% |
| 48 | Salt Lake City, UT | $1,070 | 0.00% | 2.90% | $1,370 | 0.00% | 1.50% |
| 50 | Fresno, CA | $1,000 | 0.00% | 12.40% | $1,140 | 0.00% | 0.90% |
| 50 | Phoenix, Arizona | $1,000 | 0.00% | 3.10% | $1,250 | 0.00% | 5.00% |
| 52 | Buffalo, NY | $990 | 0.00% | -8.30% | $1,180 | 0.00% | -15.70% |
| 52 | Chesapeake, VA | $990 | 0.00% | -5.70% | $1,220 | 1.70% | 1.70% |
| 52 | Las Vegas, Nevada | $990 | 0.00% | 6.50% | $1,150 | 0.00% | 0.00% |
| 55 | Milwaukee, WI | $970 | 0.00% | 6.60% | $1,020 | 0.00% | -8.10% |
| 55 | Syracuse, NY | $970 | 0.00% | 11.50% | $1,050 | 0.00% | -6.30% |
| 57 | Boise, ID | $960 | 0.00% | 2.10% | $1,100 | 0.00% | 12.20% |
| 58 | Kansas City, MO | $950 | -1.00% | 0.00% | $1,070 | -3.60% | -2.70% |
| 59 | Anchorage, AK | $930 | 2.20% | 3.30% | $1,150 | 0.00% | 4.50% |
| 59 | Colorado Springs, CO | $930 | 1.10% | 4.50% | $1,200 | 3.40% | 7.10% |
| 61 | Jacksonville, FL | $920 | -3.20% | -3.20% | $1,050 | -2.80% | -3.70% |
| 62 | Mesa, AZ | $910 | -1.10% | 1.10% | $1,160 | 0.90% | 12.60% |
| 62 | Reno, NV | $910 | 0.00% | 8.30% | $1,310 | 0.00% | 7.40% |
| 64 | Louisville, KY | $900 | 2.30% | 4.70% | $960 | 1.10% | -2.00% |
| 65 | San Antonio, TX | $890 | -1.10% | -2.20% | $1,100 | -1.80% | -5.20% |
| 66 | Glendale, AZ | $860 | 2.40% | 11.70% | $1,100 | 2.80% | 6.80% |
| 67 | Corpus Christi, TX | $850 | 0.00% | -4.50% | $1,070 | 0.90% | 0.00% |
| 67 | Spokane, WA | $850 | 4.90% | 11.80% | $1,000 | 0.00% | 6.40% |
| 69 | Rochester, NY | $840 | 0.00% | 0.00% | $980 | 0.00% | -3.90% |
| 70 | Laredo, TX | $830 | 0.00% | 0.00% | $880 | -1.10% | -11.10% |
| 70 | Omaha, NE | $830 | -1.20% | -2.40% | $1,050 | 0.00% | -4.50% |
| 72 | Arlington, TX | $820 | 0.00% | 1.20% | $1,090 | 0.00% | 0.90% |
| 72 | Baton Rouge, LA | $820 | -1.20% | -1.20% | $910 | -2.20% | 0.00% |
| 74 | Cleveland, OH | $810 | 0.00% | 1.30% | $870 | 0.00% | -3.30% |
| 74 | Des Moines, IA | $810 | 0.00% | -5.80% | $860 | 0.00% | -7.50% |
| 76 | Knoxville, TN | $800 | 0.00% | -3.60% | $900 | 0.00% | -2.20% |
| 76 | Norfolk, VA | $800 | 0.00% | -2.40% | $1,070 | 1.90% | 7.00% |
| 78 | St Louis, MO | $790 | 0.00% | -1.30% | $1,150 | 0.00% | -1.70% |
| 79 | Chattanooga, TN | $780 | 0.00% | 1.30% | $890 | 0.00% | 9.90% |
| 79 | Cincinnati, OH | $780 | 0.00% | -3.70% | $1,120 | 0.00% | 0.90% |
| 81 | Winston Salem, NC | $770 | 0.00% | 1.30% | $830 | 0.00% | -1.20% |
| 82 | Tallahassee, FL | $760 | 0.00% | 4.10% | $880 | 0.00% | 3.50% |
| 83 | Augusta, GA | $750 | 0.00% | 4.20% | $830 | 2.50% | 0.00% |
| 83 | Indianapolis, IN | $750 | 0.00% | 10.30% | $810 | 0.00% | 0.00% |
| 83 | Lexington, KY | $750 | 0.00% | -5.10% | $980 | 0.00% | 4.30% |
| 86 | Bakersfield, CA | $730 | -1.40% | -6.40% | $900 | -3.20% | 1.10% |
| 86 | Greensboro, NC | $730 | 2.80% | 0.00% | $850 | 2.40% | 1.20% |
| 86 | Memphis, TN | $730 | 0.00% | -1.40% | $810 | 5.20% | 3.80% |
| 89 | Albuquerque, NM | $700 | 0.00% | 7.70% | $850 | 1.20% | 1.20% |
| 89 | Columbus, Ohio | $700 | 0.00% | -10.30% | $1,100 | 2.80% | 3.80% |
| 91 | Oklahoma City, OK | $690 | -4.20% | -2.80% | $890 | 1.10% | 6.00% |
| 92 | Lincoln, NE | $670 | 0.00% | -8.20% | $890 | 0.00% | -7.30% |
| 93 | Tulsa, OK | $660 | 1.50% | 8.20% | $810 | 1.30% | 5.20% |
| 94 | El Paso, TX | $650 | 0.00% | 3.20% | $790 | -1.30% | 3.90% |
| 94 | Shreveport, LA | $650 | 0.00% | 1.60% | $700 | 0.00% | -5.40% |
| 94 | Tucson, AZ | $650 | 1.60% | 3.20% | $890 | 1.10% | 4.70% |
| 97 | Lubbock, TX | $630 | 0.00% | 5.00% | $800 | 2.60% | 2.60% |
| 98 | Detroit, MI | $610 | 0.00% | 1.70% | $690 | 0.00% | 0.00% |
| 98 | Wichita, KS | $610 | 0.00% | 0.00% | $750 | 0.00% | 0.00% |
| 100 | Akron, OH | $550 | 0.00% | -3.50% | $710 | -2.70% | -5.30% |
About
The Zumper National Rent Report 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.
If you’re interested in a more in-depth explanation of how and why we calculate our rent data, view our methodology post.
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