Nationally, 2 of 3 users were impacted financially by COVID-19
We recently ran a survey of Zumper users, a full in-depth piece will be coming out in May, and found that 67% were financially impacted from the pandemic. Of those impacted, 35% lost their job or received a pay cut. Usually as the warmer months approach, demand and rent prices pick up. However, this report shows that as we enter into Spring 2020, this is not the case.
Top 10 markets: All West Coast cities have rent prices on a downward trajectory
All West Coast markets in our top 10, including 5 California cities and 1 Washington city, were on a downward trajectory. In the Bay Area, which makes up 3 of the 5 most expensive cities in the nation, San Francisco, San Jose, and Oakland all had one-bedroom rents down between 1-4% on a monthly basis. Notably, San Francisco one-bedroom rent has even fallen 6.8% since this time last year. In the southern portion of California, Los Angeles and San Diego rents were down on a monthly basis for both bedroom types. Similarly, Seattle rents were down on all fronts as well. As California and Washington were two of the first states to adopt Shelter-in-Place or Stay-at-Home orders in response to the pandemic, it seems COVID-19 has placed downward pressure on rents in these top cities that is leading to decreasing prices.
Meanwhile, East Coast cities in our top 10 like New York City and Washington D.C. experienced some growth. New York City saw one-bedroom rent increase 3.5%, while D.C. one-bedrooms were up 0.9%.
National one-bedroom rent drops slightly
Overall, the national one-bedroom rent decreased 0.1% last month to $1,220, while two-bedrooms increased 0.2% to $1,474. On a year-to-date basis, one-bedroom rent is down 0.1%, while two-bedrooms remained flat.
Top Five Rental Markets
1. San Francisco, Californie saw one-bedroom rent drop 1.4% to $3,450, while two bedrooms decreased 0.9% to $4,500. Notably, on a year-over-year basis, one-bedrooms are down nearly 7%.
2. New York, NY one-bedroom rent grew 3.5% to $2,950, while two-bedrooms increased 1.9% to $3,260.
3. Boston, Massachusetts moved up one spot to rank as the 3rd most expensive city with one and two-bedroom rents settling at $2,500 and $2,900, respectively.
4. San Jose, CA dropped down to 5th with one-bedroom rent falling 3.5% to $2,460. Two-bedroom rent, on the other hand, increased a slight 0.3% to $,3040.
5. Oakland, CA rounded out our top 5 markets with one-bedroom rent decreasing 2.5% to $2,340 and two-bedroom rent falling 5% to $2,840.
Notable Changes This Past Month
Upward
–Madison, WI one-bedroom rent had the largest monthly growth rate in the nation, jumping 5.4% to $1,170. This bumped up the city 5 spots to rank as the 35th most expensive. Two-bedrooms were on an upward trajectory as well with rent growing 3.9% to $1,320.
–Laredo, TX moved up 5 positions to become the 84th priciest market with one-bedroom rent increasing 5.3% to $790.
–Winston Salem, NC saw one-bedroom rent climb 5.2%, settling at $810, and up 5 spots to rank as 79th. Two-bedrooms grew 3.5% to $880.
–Indianpolis, IN moved up 6 rankings to become the 72nd most expensive city with one-bedroom rent jumping 4.9% to $860. Notably, on a year-over-year basis, one-bedroom rent in this city is up nearly 15%.
–Fresno, CA was catapulted up 7 spots to 43rd with one-bedroom rent climbing 4.8% to $1,090.
Downward
–Salt Lake City, UT & Chesapeake, VA both saw one-bedroom rent drop 5.4%, settling at $1,050, and move down 8 positions to tie for the 48th priciest city.
–Milwaukee, WI took a 10 ranking plunge to 46th with one-bedroom rent falling 5.4% to $1,060 and two-bedroom rent decreasing 3.4% to $1,130.
–Mesa, AZ one-bedroom rent dipped 6 spots to 63rd with one-bedroom rent declining 5.2% to $920. Two-bedroom rent, similarly, decreased 5% to $1,150.
–Nashville, TN moved down one spot to rank as the 22nd priciest market with one-bedroom rent falling 4.9% to $1,370. Two-bedroom rent dropped 4.7% to $1,420.
–Tulsa, OK dipped down one position to 99th and saw one-bedroom rent decrease 4.8% to $600, while two-bedrooms were down 1.2% to $800.
Full Data
| 1 Bedroom | 2 Bedrooms | ||||||
|---|---|---|---|---|---|---|---|
| Pos. | City | Price | M/M % | Y/Y % | Price | M/M % | Y/Y % |
| 1 | San Francisco, Californie | $3,450 | -1.40% | -6.80% | $4,500 | -0.90% | 0.00% |
| 2 | New York, NY | $2,950 | 3.50% | 3.50% | $3,260 | 1.90% | 3.80% |
| 3 | Boston, Massachusetts | $2,500 | 0.00% | 3.30% | $2,900 | 0.00% | 3.60% |
| 4 | San Jose, CA | $2,460 | -3.50% | 2.10% | $3,040 | 0.30% | 3.80% |
| 5 | Oakland, CA | $2,340 | -2.50% | 6.40% | $2,840 | -5.00% | 4.40% |
| 6 | Washington, D.C. | $2,250 | 0.90% | 4.70% | $2,980 | -4.80% | 4.60% |
| 7 | Los Angeles, Californie | $2,200 | -2.20% | -3.50% | $3,000 | -1.30% | -3.20% |
| 8 | Seattle, WA | $1,790 | -1.60% | -5.30% | $2,260 | -1.70% | -7.00% |
| 9 | San Diego, CA | $1,780 | -1.10% | 1.70% | $2,350 | -2.10% | 2.20% |
| 10 | Miami, Floride | $1,770 | -0.60% | -1.70% | $2,300 | 0.00% | -2.10% |
| 11 | Santa Ana, CA | $1,700 | 0.60% | -4.50% | $2,190 | 0.00% | 0.50% |
| 12 | Fort Lauderdale, FL | $1,680 | -1.20% | 5.00% | $2,150 | -0.90% | 7.50% |
| 13 | Anaheim, CA | $1,600 | -3.00% | -7.00% | $1,950 | -2.00% | -3.90% |
| 13 | Long Beach, CA | $1,600 | 0.60% | 3.20% | $2,000 | 0.00% | 0.00% |
| 13 | Honolulu, HI | $1,600 | -1.20% | -9.10% | $2,000 | -4.80% | -12.30% |
| 16 | Chicago, Illinois | $1,550 | 3.30% | 0.60% | $1,820 | 4.60% | -2.20% |
| 17 | Philadelphie, Pennsylvanie | $1,500 | 0.00% | 11.90% | $1,700 | 0.60% | 0.00% |
| 18 | Scottsdale, AZ | $1,470 | -1.30% | 8.90% | $2,030 | -5.10% | -4.20% |
| 19 | Denver, Colorado | $1,440 | -3.40% | -6.50% | $1,860 | -3.10% | -7.00% |
| 20 | Atlanta, Géorgie | $1,420 | -2.10% | -3.40% | $1,820 | 0.00% | 0.60% |
| 21 | New Orleans, LA | $1,390 | -2.10% | -2.80% | $1,570 | -2.50% | 2.60% |
| 22 | Minneapolis, MN | $1,370 | -1.40% | -2.10% | $1,810 | -0.50% | -4.70% |
| 22 | Nashville, TN | $1,370 | -4.90% | 4.60% | $1,420 | -4.70% | 7.60% |
| 22 | Portland, Oregon | $1,370 | -2.10% | 1.50% | $1,700 | 2.40% | 6.30% |
| 25 | Newark, NJ | $1,330 | 0.00% | 15.70% | $1,580 | 1.90% | 15.30% |
| 25 | Providence, RI | $1,330 | 4.70% | -7.60% | $1,760 | 3.50% | 11.40% |
| 27 | Sacramento, CA | $1,300 | 0.00% | 8.30% | $1,550 | 0.60% | 9.90% |
| 28 | Austin, Texas | $1,270 | -0.80% | 5.80% | $1,540 | -1.30% | 2.00% |
| 29 | Gilbert, AZ | $1,260 | -1.60% | 10.50% | $1,470 | -4.50% | 2.10% |
| 30 | Dallas, Texas | $1,240 | -0.80% | -0.80% | $1,670 | 0.60% | -2.30% |
| 31 | Chandler, AZ | $1,230 | -2.40% | 2.50% | $1,420 | -3.40% | 1.40% |
| 32 | Orlando, Floride | $1,220 | -4.70% | -6.90% | $1,400 | 0.00% | -6.70% |
| 33 | Baltimore, MD | $1,200 | 0.00% | 2.60% | $1,400 | -0.70% | -4.80% |
| 33 | Charlotte, Caroline du Nord | $1,200 | 0.00% | 0.80% | $1,310 | -4.40% | 0.00% |
| 35 | Madison, WI | $1,170 | 5.40% | -1.70% | $1,320 | 3.90% | -4.30% |
| 36 | Plano, TX | $1,150 | -2.50% | -1.70% | $1,510 | -3.80% | -3.80% |
| 37 | Buffalo, NY | $1,140 | 3.60% | 15.20% | $1,350 | 0.70% | 14.40% |
| 37 | St Petersburg, FL | $1,140 | 4.60% | 3.60% | $1,500 | 4.20% | -6.30% |
| 39 | Irving, TX | $1,110 | -0.90% | 1.80% | $1,450 | -1.40% | -1.40% |
| 40 | Henderson, NV | $1,100 | 0.00% | -0.90% | $1,350 | 0.00% | 2.30% |
| 40 | Houston, Texas | $1,100 | -1.80% | -6.00% | $1,310 | -3.70% | -6.40% |
| 40 | Tampa, Floride | $1,100 | -1.80% | -4.30% | $1,350 | 0.70% | 0.00% |
| 43 | Aurora, CO | $1,090 | -0.90% | -8.40% | $1,370 | -4.20% | -2.80% |
| 43 | Fresno, CA | $1,090 | 4.80% | 9.00% | $1,150 | -4.20% | 0.90% |
| 45 | Pittsburgh, PA | $1,080 | -0.90% | -0.90% | $1,350 | 3.80% | 1.50% |
| 46 | Milwaukee, WI | $1,060 | -5.40% | 9.30% | $1,130 | -3.40% | 10.80% |
| 46 | Richmond, VA | $1,060 | -1.90% | 1.00% | $1,300 | -2.30% | 3.20% |
| 48 | Boise, ID | $1,050 | 1.90% | 9.40% | $1,140 | -5.00% | 3.60% |
| 48 | Chesapeake, VA | $1,050 | -5.40% | 6.10% | $1,200 | -4.00% | -1.60% |
| 48 | Salt Lake City, UT | $1,050 | -5.40% | -1.90% | $1,300 | -5.10% | -5.10% |
| 51 | Fort Worth, TX | $1,030 | -2.80% | -6.40% | $1,280 | 0.00% | -0.80% |
| 51 | Virginia Beach, VA | $1,030 | 3.00% | 2.00% | $1,200 | 0.00% | 0.00% |
| 53 | Reno, NV | $1,020 | -1.90% | 12.10% | $1,310 | 0.80% | 0.00% |
| 54 | Phoenix, Arizona | $1,000 | 2.00% | 1.00% | $1,250 | 0.00% | 2.50% |
| 55 | Colorado Springs, CO | $990 | -2.00% | 6.50% | $1,210 | -4.70% | 9.00% |
| 56 | Raleigh, NC | $980 | -3.90% | 0.00% | $1,200 | -1.60% | 4.30% |
| 57 | Durham, NC | $970 | 2.10% | -12.60% | $1,170 | 0.90% | -7.90% |
| 57 | Las Vegas, Nevada | $970 | 2.10% | -2.00% | $1,190 | 1.70% | 3.50% |
| 59 | Anchorage, AK | $950 | 2.20% | 4.40% | $1,150 | 4.50% | 1.80% |
| 59 | Rochester, NY | $950 | 3.30% | 13.10% | $1,130 | 0.00% | 15.30% |
| 61 | Cleveland, OH | $940 | 0.00% | 16.00% | $1,000 | 0.00% | 14.90% |
| 61 | Kansas City, MO | $940 | 0.00% | 0.00% | $1,080 | 0.90% | -0.90% |
| 63 | Mesa, AZ | $920 | -5.20% | 2.20% | $1,150 | -5.00% | 3.60% |
| 63 | Norfolk, VA | $920 | 0.00% | 15.00% | $1,000 | 3.10% | 3.10% |
| 65 | Des Moines, IA | $910 | 1.10% | 12.30% | $960 | 1.10% | 11.60% |
| 66 | Chattanooga, TN | $900 | 0.00% | 15.40% | $1,000 | 0.00% | 12.40% |
| 66 | Cincinnati, OH | $900 | 0.00% | 15.40% | $1,150 | 0.00% | 2.70% |
| 66 | St Louis, MO | $900 | 1.10% | 13.90% | $1,210 | 0.80% | 5.20% |
| 69 | Jacksonville, FL | $880 | -2.20% | -7.40% | $1,070 | 0.00% | -0.90% |
| 70 | Glendale, AZ | $870 | 3.60% | 11.50% | $1,100 | 0.90% | 10.00% |
| 70 | San Antonio, TX | $870 | 2.40% | -3.30% | $1,090 | -0.90% | -2.70% |
| 72 | Indianapolis, IN | $860 | 4.90% | 14.70% | $920 | 0.00% | 13.60% |
| 73 | Arlington, TX | $850 | -1.20% | 3.70% | $1,110 | 0.00% | 1.80% |
| 73 | Louisville, KY | $850 | 1.20% | -4.50% | $950 | 2.20% | -4.00% |
| 73 | Omaha, NE | $850 | 2.40% | 0.00% | $1,030 | 3.00% | -1.90% |
| 76 | Corpus Christi, TX | $830 | 0.00% | -2.40% | $1,050 | 0.00% | 1.00% |
| 77 | Bakersfield, CA | $820 | 1.20% | 5.10% | $1,060 | -1.90% | 8.20% |
| 77 | Syracuse, NY | $820 | -1.20% | -15.50% | $990 | -2.00% | -5.70% |
| 79 | Columbus, Ohio | $810 | 0.00% | 15.70% | $1,070 | 0.00% | -2.70% |
| 79 | Knoxville, TN | $810 | 1.30% | 2.50% | $950 | 0.00% | 5.60% |
| 79 | Tallahassee, FL | $810 | -2.40% | 6.60% | $930 | 2.20% | 5.70% |
| 79 | Winston Salem, NC | $810 | 5.20% | 5.20% | $880 | 3.50% | 6.00% |
| 83 | Spokane, WA | $800 | 0.00% | 6.70% | $1,000 | 0.00% | 6.40% |
| 84 | Baton Rouge, LA | $790 | -1.30% | -7.10% | $890 | -2.20% | -5.30% |
| 84 | Laredo, TX | $790 | 5.30% | -4.80% | $920 | -4.20% | 3.40% |
| 86 | Memphis, TN | $780 | 2.60% | 6.80% | $840 | 0.00% | 9.10% |
| 87 | Lincoln, NE | $770 | 0.00% | 14.90% | $920 | 0.00% | 3.40% |
| 88 | Augusta, GA | $750 | -1.30% | 0.00% | $850 | 0.00% | 7.60% |
| 88 | Oklahoma City, OK | $750 | -1.30% | 5.60% | $920 | 2.20% | 5.70% |
| 90 | Lexington, KY | $730 | 0.00% | -1.40% | $980 | 3.20% | 1.00% |
| 91 | Greensboro, NC | $710 | -1.40% | -1.40% | $830 | 0.00% | -2.40% |
| 92 | Albuquerque, NM | $700 | -1.40% | 2.90% | $870 | -2.20% | 6.10% |
| 92 | Detroit, MI | $700 | 0.00% | 14.80% | $800 | 0.00% | 15.90% |
| 92 | Tucson, AZ | $700 | 0.00% | 7.70% | $920 | 2.20% | 4.50% |
| 95 | Wichita, KS | $690 | 4.50% | 13.10% | $750 | 5.60% | 5.60% |
| 96 | El Paso, TX | $670 | -1.50% | 4.70% | $800 | 0.00% | 6.70% |
| 97 | Shreveport, LA | $640 | 1.60% | 0.00% | $760 | 5.60% | 8.60% |
| 98 | Lubbock, TX | $630 | -1.60% | 0.00% | $850 | 4.90% | 6.30% |
| 99 | Tulsa, OK | $600 | -4.80% | -4.80% | $800 | -1.20% | 2.60% |
| 100 | Akron, OH | $590 | -3.30% | 11.30% | $710 | -2.70% | -2.70% |
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.
To keep up to date with rent changes across the country, like or follow Zumper on Facebook, Gazouillement, and Instagram. In the market for a new place? Search apartments for rent on Zumper.
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