While there were some adjustments in the top 10 markets, the 4 most expensive cities had another fairly stable month. D.C. one bedroom rent saw the largest dip of the top 10 cities, falling 4.1% and out of the top 5 rankings, while Seattle rent was the fastest growing, up 5%. The rest of the nation’s prices experienced an interesting trend where the majority of year over year rent changes that were over 10% were positive. The only 2 cities of the 100 on our report that had large year over year decreases were Chicago, with both bedroom types down over 15%, and Lincoln, with one bedrooms down 9%.
Overall, the national one bedroom rent dropped a staggering 8.9% to $1,184, while two bedrooms grew 1.1% to $1,414. After a historic high for one bedroom rent last month at $1,300, it seems a bubble has popped since rent has fallen back down to below $1,200.
Top Five Rental Markets
1. San Francisco, CA had another fairly flat month with one bedrooms staying stable at $3,400 and two bedrooms increasing 2.5% to $4,510.
2. New York, NY experienced a similar trend to San Francisco’s with one bedrooms fixed at $2,900 and two bedrooms growing 1.7% to $3,500.
3. San Jose, CA held on steady to its ranking as the third most expensive city with one bedroom rent increasing a slight 0.8% to $2,470, while two bedrooms experienced more drastic growth, climbing 3.9% to $2,940. Notably, on a year over year basis, one bedroom rent here is up 9.3%.
4. Boston, MA saw both one and two bedroom prices remain flat last month, staying at $2,300 and $2,700, respectively.
5. Los Angeles, CA moved up 1 spot, outpacing Oakland, to rank as the 5th most expensive city. One bedroom rent grew 2.3% to $2,250, while two bedrooms were stable at $3,200.
Notable Changes This Month
Upward
–Philadelphia, PA moved up 2 spots to rank as the 15th most expensive city. One bedroom rent jumped 5% to $1,470, while two bedrooms saw an even larger bump, up 5.1% to $1,640.
–Minneapolis, MN one bedroom rent climbed 3 spots and up 5.3%, settling at $1,390, to become the 18th priciest city. Two bedrooms saw a similar upward trend as well, growing 5.1% to $1,850. Notably, on a year over year basis, two bedroom rent here is up 12.8%.
–Nashville, TN one bedroom rent grew 4.8% last month to $1,310, moving up 3 spots to rank as 23rd. Two bedrooms jumped 5.1% to $1,440.
–Madison, WI rose 6 positions to become the 27th priciest city with one bedrooms increasing 5.3% to $1,200 and two bedrooms growing 4.6% to $1,360.
–Milwaukee, WI shot up 7 spots to rank as 56th. One bedroom rent increased 4.8% to $880, while two bedrooms jumped 5.3% to $990.
Downward
–Scottsdale, AZ fell 7 spots to become the 25th most expensive city with one bedroom rent down 5.1% to $1,290 and two bedrooms dropping 5.2% to $2,010.
–Charlotte, NC saw one bedroom rent decrease 4.2%, settling at $1,150, and dive down 3 spots to rank as 31st.
–Irving, TX dropped 4 positions, now ranking as the 32nd priciest city. One bedroom rent decreased 5% to $1,140, while two bedrooms saw some growth, increasing 4.1% to $1,540.
–Bakersfield, CA one bedroom rent took a 5% and 7 ranking dip to become the 73rd most expensive rental market at $760.
–Glendale, AZ, similar to Scottsdale and Bakersfield, also dropped 7 spots, now ranking as the 75th priciest city. One bedroom rent decreased 5.1% to $750.
Full Data
| 1 Bedroom | 2 Bedrooms | ||||||
|---|---|---|---|---|---|---|---|
| Pos. | City | Price | M/M % | Y/Y % | Price | M/M % | Y/Y % |
| 1 | Centennial | $1,500 | 0.70% | 15.40% | $1,910 | 4.90% | 11.00% |
| 2 | Broomfield | $1,440 | -0.70% | 0.00% | $1,780 | 3.50% | 5.30% |
| 2 | Denver | $1,440 | 2.90% | 15.20% | $1,960 | 2.60% | 15.30% |
| 4 | Lakewood | $1,420 | 5.20% | 13.60% | $1,490 | 4.20% | 8.80% |
| 5 | Castle Rock | $1,390 | 5.30% | 15.80% | $1,560 | 4.70% | 13.90% |
| 6 | Westminster | $1,340 | 1.50% | 13.60% | $1,550 | 4.70% | 8.40% |
| 7 | Littleton | $1,330 | -1.50% | 15.70% | $1,700 | 3.70% | 9.00% |
| 8 | Parker | $1,300 | -1.50% | 0.00% | $1,620 | 3.20% | 3.80% |
| 9 | Arvada | $1,180 | 5.40% | 12.40% | $1,380 | 5.30% | 3.80% |
| 10 | Thornton | $1,170 | -4.10% | 15.80% | $1,470 | 1.40% | 15.70% |
| 11 | Aurora | $1,110 | -0.90% | 12.10% | $1,460 | 3.50% | 7.40% |
| 12 | Northglenn | $1,090 | -5.20% | 5.80% | $1,350 | 0.00% | -0.70% |
About
The Zumper National Rent Report analyses 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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