2018 Wrap Up & 2019 Rental Thoughts
2018 saw a plateauing of prices in the most expensive markets as the year is ending with the top 10 cities remaining relatively unchanged since January. Smaller markets have been playing catch up with bigger markets all of 2018, with many mid and lower tiered cities experiencing consistent double digit rent growth every month. All of the markets with the largest year to date changes below were mid and lower-tiered markets ranging from 48th – 93rd.
Rents in 2019 will most likely see accelerated growth due to pressure from a continued slow for-sale market, with continued interest rates hikes on the horizon, millennials favoring a sharing economy, so owning things, from cars to houses, is becoming less of a priority than it has been before, and an overall lack of available supply to meet a growing demand (U.S. rental vacancy is at 6.8%, which is the lowest it’s been since early 1990’s [Census].)
Nationally, one bedroom rent grew 0.8% to $1,212 last month, while two bedrooms increased 0.5% to $1,430. On a year to date basis, one bedroom rent is down 1.9% and two bedroom rent is up and 3.9%.
Top Five Rental Markets
1. San Francisco, CA saw one bedroom rent fall 1.7% to $3,560, while two bedrooms remained flat at $4,720.
2. New York, NY one bedroom rent dropped 3.5% to $2,750, while two bedrooms decreased 1.5% to $3,190.
3. Boston, MA moved up 2 spots to become 3rd with one bedroom rent growing 3.3% to $2,480 while two bedrooms stayed stable at $2,700.
3. San Jose, CA tied with Boston for 3rd with one bedroom rent decreasing 1.2% to $2,480 and two bedrooms dropping 3% to $2,900.
5. Los Angeles, CA fell 1 spot to rank as the 5th most expensive city. One bedroom rent decreased 0.8% to $2,410, while two bedrooms increased 0.6% to $3,240.
Notable Changes This Month
Upward
–New Orleans, LA moved up 3 spots to become the 22nd most expensive city. One bedroom rent jumped 5.3% to $1,380, while two bedrooms remained flat at $1,450.
–Scottsdale, AZ also rose 3 positions to rank as 22nd. One bedroom rent grew 5.3% to $1,380, while two bedrooms increased 1.5% to $1,990.
–Las Vegas, NV one bedrooms had the largest monthly growth rate in the nation, up 5.4% to $970. Two bedrooms saw more modest growth, up 1.8% to $1,140.
–Knoxville, TN saw one bedroom rent climb 5.1%, settling at $820, and up 2 spots to become the 72nd most expensive in the nation.
–St. Louis, MO jumped 4 positions to rank as 75th with one bedroom rent growing 5.3% to $800, while two bedrooms increased 4.7% to $1,110.
Downward
–Madison, WI one bedroom rent took the largest monthly dip in the nation, down 4.7% to $1,220. Two bedrooms saw a more modest decline, down 0.7% to $1,490.
–Plano, TX took a 6 ranking plunge to 41st. One bedroom rent fell 3.5% to $1,110, while two bedrooms decreased 2% to $1,500.
–Chesapeake, VA saw one bedroom rent fall 3.9% to $990 and take a 4 ranking dip to 52nd.
–Louisville, KY dropped 4 spots to become the 67th priciest market. One bedroom rent fell 4.5% to $840, while two bedrooms decreased 2% to $1,000.
–Laredo, TX one bedroom rent moved dropped 4.6%, settling at $830, and down 6 spots to become 70th. Two bedroom rent was down 3.1% to $950.
Notable Changes Year to Date
Cities with The Most Rent Growth
–Columbus, OH: +23%
–Des Moines, IA: +21%
–St. Louis, MO: +17.6%
–Memphis, TN: +17.2%
–Shreveport, LA: +16.1%
Cities with The Largest Rent Dips
–Tucson, AZ: -9.9%
–Bakersfield, CA: -7.9%
–Louisville, KY: -7.7%
–Syracuse, NY: -7.4%
–Virginia Beach, VA: -7.2%
Largest Position Changes Year to Date
Up The Most Positions
–Des Moines, IA: +11 spots
–Aurora, CO, Norfolk VA, Columbus OH: +8 spots
–Orlando, FL & Las Vegas, NV: +7 spots
Down the most positions
–Lincoln, NE: -20 spots
–Tucson, AZ: -18 spots
–Baton Rouge, LA & Syracuse, NY: -15 spots
Full Data
| 1 Bedroom | 2 Bedrooms | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Pos. | City | Price | M/M % | Y/Y % | YTD% | Price | M/M % | Y/Y % | YTD% |
| 1 | San Francisco, CA | $3,560 | -1.70% | 5.00% | 4.70% | $4,720 | 0.00% | 7.80% | 7.30% |
| 2 | New York, NY | $2,750 | -3.50% | -5.20% | -4.20% | $3,190 | -1.50% | -5.10% | -2.70% |
| 3 | Boston, MA | $2,480 | 3.30% | 10.20% | 7.80% | $2,700 | 0.00% | 0.40% | 0.00% |
| 3 | San Jose, CA | $2,480 | -1.20% | 3.30% | 0.80% | $2,900 | -3.00% | 1.00% | 4.30% |
| 5 | Los Angeles, CA | $2,410 | -0.80% | 9.50% | 8.60% | $3,240 | 0.60% | 1.90% | 1.30% |
| 6 | Oakland, CA | $2,350 | 4.40% | 14.10% | 11.90% | $2,860 | 5.10% | 14.40% | 15.80% |
| 7 | Washington, DC | $2,130 | -1.80% | -8.60% | -6.60% | $2,650 | -2.20% | -13.40% | -10.20% |
| 8 | San Diego, CA | $1,910 | 1.10% | 13.00% | 11.70% | $2,500 | -0.80% | 13.10% | 11.10% |
| 9 | Seattle, WA | $1,900 | 1.60% | 3.30% | 3.80% | $2,510 | 0.00% | 4.10% | 4.60% |
| 10 | Santa Ana, CA | $1,880 | -0.50% | 3.90% | #N/A | $2,260 | 1.80% | 15.90% | #N/A |
| 11 | Honolulu, HI | $1,780 | 4.70% | 4.70% | 7.90% | $2,200 | 0.00% | 4.30% | 0.00% |
| 12 | Miami, FL | $1,760 | -2.20% | 0.60% | -0.60% | $2,400 | 0.00% | 0.00% | -2.00% |
| 13 | Anaheim, CA | $1,660 | -1.80% | -0.60% | #N/A | $2,190 | 2.30% | 4.30% | #N/A |
| 14 | Long Beach, CA | $1,600 | 3.20% | 11.90% | 6.70% | $2,000 | 1.50% | 5.30% | 3.60% |
| 15 | Fort Lauderdale, FL | $1,570 | 4.70% | 4.70% | 8.30% | $2,060 | 3.00% | 8.40% | 12.00% |
| 16 | Philadelphia, PA | $1,520 | -0.70% | 7.80% | 8.60% | $1,700 | 1.20% | 6.30% | 13.30% |
| 17 | Chicago, IL | $1,510 | 0.70% | -1.30% | -2.60% | $1,840 | -0.50% | -15.60% | -11.10% |
| 17 | Denver, CO | $1,510 | 0.00% | 7.10% | 8.60% | $1,930 | -0.50% | 6.60% | 6.00% |
| 17 | Providence, RI | $1,510 | 2.00% | 11.00% | 7.90% | $1,560 | -4.90% | 2.00% | 8.30% |
| 20 | Atlanta, GA | $1,480 | 0.00% | 8.00% | 3.50% | $1,800 | -0.60% | 2.90% | -2.70% |
| 21 | Minneapolis, MN | $1,400 | 0.00% | 15.70% | 6.10% | $1,910 | -2.10% | 11.00% | 8.50% |
| 22 | New Orleans, LA | $1,380 | 5.30% | 0.00% | 11.30% | $1,450 | 0.00% | -0.70% | 2.80% |
| 22 | Scottsdale, AZ | $1,380 | 5.30% | 4.50% | 3.00% | $1,990 | 1.50% | -5.20% | -7.90% |
| 24 | Baltimore, MD | $1,350 | 2.30% | 14.40% | 7.10% | $1,550 | -1.30% | 10.70% | 5.40% |
| 24 | Portland, OR | $1,350 | 0.00% | 1.50% | 1.50% | $1,660 | 1.20% | 7.80% | 3.80% |
| 26 | Nashville, TN | $1,330 | 0.00% | 8.10% | 3.10% | $1,390 | -0.70% | 6.90% | -0.70% |
| 27 | Orlando, FL | $1,300 | 1.60% | 13.00% | 15.00% | $1,490 | 0.70% | 14.60% | 14.60% |
| 27 | Sacramento, CA | $1,300 | 0.00% | 13.00% | 9.20% | $1,450 | 0.00% | 7.40% | 8.20% |
| 29 | Dallas, TX | $1,260 | 0.00% | -4.50% | -3.10% | $1,690 | 0.00% | -2.90% | -1.20% |
| 30 | Houston, TX | $1,220 | 1.70% | -3.20% | 1.70% | $1,490 | 0.00% | -4.50% | 0.70% |
| 30 | Madison, WI | $1,220 | -4.70% | 0.80% | 1.70% | $1,490 | -0.70% | 14.60% | 12.90% |
| 32 | Austin, TX | $1,200 | -0.80% | 4.30% | 4.30% | $1,500 | -1.30% | 5.60% | 3.40% |
| 33 | Aurora, CO | $1,170 | 1.70% | 11.40% | 13.60% | $1,410 | 0.70% | 6.80% | 6.80% |
| 34 | Chandler, AZ | $1,160 | 3.60% | 10.50% | 9.40% | $1,360 | 3.00% | 12.40% | 13.30% |
| 35 | Newark, NJ | $1,150 | 2.70% | 15.00% | 10.60% | $1,360 | -0.70% | 13.30% | 13.30% |
| 35 | Pittsburgh, PA | $1,150 | -1.70% | -1.70% | 9.50% | $1,300 | -5.10% | -2.30% | 4.00% |
| 37 | Charlotte, NC | $1,140 | -1.70% | -2.60% | -5.00% | $1,300 | 0.00% | 4.00% | 4.80% |
| 38 | Gilbert, AZ | $1,130 | 3.70% | 2.70% | -0.90% | $1,350 | -1.50% | -0.70% | 0.70% |
| 38 | Irving, TX | $1,130 | 1.80% | 0.90% | -2.60% | $1,440 | 3.60% | 1.40% | 2.10% |
| 38 | Tampa, FL | $1,130 | -1.70% | 2.70% | 2.70% | $1,330 | -1.50% | 1.50% | 3.10% |
| 41 | Durham, NC | $1,110 | -2.60% | 15.60% | 12.10% | $1,230 | 0.00% | 11.80% | 9.80% |
| 41 | Plano, TX | $1,110 | -3.50% | -3.50% | -3.50% | $1,500 | -2.00% | 0.70% | 0.00% |
| 43 | St Petersburg, FL | $1,090 | 4.80% | 16.00% | 11.20% | $1,540 | 4.80% | 15.80% | 4.80% |
| 44 | Richmond, VA | $1,070 | 0.00% | 2.90% | 4.90% | $1,280 | 2.40% | 13.30% | 10.30% |
| 44 | Salt Lake City, UT | $1,070 | 3.90% | 15.10% | 12.60% | $1,430 | -1.40% | 15.30% | 16.30% |
| 46 | Henderson, NV | $1,060 | 0.00% | 7.10% | -2.80% | $1,260 | 0.00% | 14.50% | 5.90% |
| 47 | Fort Worth, TX | $1,050 | 1.00% | 6.10% | 6.10% | $1,250 | -1.60% | 1.60% | 3.30% |
| 48 | Virginia Beach, VA | $1,030 | 1.00% | 0.00% | -7.20% | $1,210 | 0.80% | 0.80% | 0.80% |
| 49 | Buffalo, NY | $1,020 | -2.90% | 15.90% | 13.30% | $1,240 | -3.10% | 15.90% | 18.10% |
| 50 | Fresno, CA | $1,000 | 4.20% | 14.90% | 12.40% | $1,150 | 3.60% | 15.00% | 15.00% |
| 50 | Jacksonville, FL | $1,000 | -1.00% | 6.40% | 1.00% | $1,050 | -4.50% | 0.00% | 0.00% |
| 52 | Chesapeake, VA | $990 | -3.90% | 15.10% | 5.30% | $1,200 | 0.00% | 1.70% | 0.00% |
| 53 | Raleigh, NC | $980 | -2.00% | 0.00% | 1.00% | $1,150 | -1.70% | 4.50% | 0.00% |
| 54 | Las Vegas, NV | $970 | 5.40% | 15.50% | 9.00% | $1,140 | 1.80% | 14.00% | 14.00% |
| 54 | Milwaukee, WI | $970 | -2.00% | 15.50% | 14.10% | $1,060 | -0.90% | 15.20% | 17.80% |
| 56 | Boise, ID | $960 | 0.00% | 15.70% | 10.30% | $1,040 | 0.00% | 11.80% | 9.50% |
| 57 | Kansas City, MO | $950 | 2.20% | 9.20% | 5.60% | $1,090 | 1.90% | 9.00% | 11.20% |
| 57 | Phoenix, AZ | $950 | 0.00% | 6.70% | 2.20% | $1,190 | -0.80% | 10.20% | 8.20% |
| 59 | Reno, NV | $930 | 4.50% | 13.40% | 10.70% | $1,310 | 4.00% | 15.90% | 9.20% |
| 60 | Colorado Springs, CO | $910 | 0.00% | 8.30% | 8.30% | $1,140 | 4.60% | 8.60% | 11.80% |
| 61 | Anchorage, AK | $900 | 0.00% | -4.30% | 0.00% | $1,110 | -3.50% | -3.50% | 0.90% |
| 62 | Corpus Christi, TX | $890 | -1.10% | -1.10% | 2.30% | $1,100 | 1.90% | 10.00% | 1.90% |
| 63 | San Antonio, TX | $880 | 1.10% | 3.50% | 3.50% | $1,110 | 0.90% | 4.70% | 2.80% |
| 64 | Syracuse, NY | $870 | 4.80% | -6.50% | -7.40% | $910 | -5.20% | -7.10% | -8.10% |
| 65 | Des Moines, IA | $860 | 4.90% | 14.70% | 21.10% | $880 | -5.40% | 10.00% | 17.30% |
| 65 | Mesa, AZ | $860 | 0.00% | 2.40% | -1.10% | $1,020 | -1.00% | 8.50% | 8.50% |
| 67 | Baton Rouge, LA | $840 | 1.20% | -1.20% | 2.40% | $980 | 5.40% | 10.10% | 8.90% |
| 67 | Louisville, KY | $840 | -4.50% | -9.70% | -7.70% | $1,000 | -2.00% | 2.00% | 4.20% |
| 67 | Rochester, NY | $840 | 2.40% | 15.10% | 9.10% | $980 | 0.00% | 15.30% | 5.40% |
| 70 | Laredo, TX | $830 | -4.60% | 15.30% | 9.20% | $950 | -3.10% | 5.60% | 5.60% |
| 70 | Omaha, NE | $830 | 3.80% | 5.10% | -1.20% | $1,070 | 2.90% | 15.10% | 17.60% |
| 72 | Arlington, TX | $820 | 2.50% | 15.50% | 13.90% | $1,090 | 1.90% | 16.00% | 13.50% |
| 72 | Knoxville, TN | $820 | 5.10% | 15.50% | 9.30% | $900 | -1.10% | 15.40% | 8.40% |
| 74 | Cleveland, OH | $810 | -1.20% | 15.70% | 14.10% | $870 | 0.00% | 16.00% | 16.00% |
| 75 | Norfolk, VA | $800 | 2.60% | 15.90% | 14.30% | $950 | 2.20% | 11.80% | 5.60% |
| 75 | St Louis, MO | $800 | 5.30% | 15.90% | 17.60% | $1,110 | 4.70% | 14.40% | 11.00% |
| 77 | Glendale, AZ | $790 | 3.90% | 12.90% | 2.60% | $990 | 5.30% | 11.20% | 15.10% |
| 78 | Chattanooga, TN | $780 | 0.00% | 6.80% | 2.60% | $890 | 0.00% | 15.60% | 11.30% |
| 78 | Cincinnati, OH | $780 | 0.00% | 14.70% | 4.00% | $1,120 | 0.00% | 15.50% | 15.50% |
| 78 | Winston Salem, NC | $780 | 1.30% | 14.70% | 9.90% | $840 | 0.00% | 15.10% | 10.50% |
| 81 | Spokane, WA | $760 | 1.30% | 4.10% | 8.60% | $960 | 2.10% | 12.90% | 10.30% |
| 82 | Columbus, OH | $750 | 2.70% | 15.40% | 23.00% | $1,070 | 0.00% | 11.50% | 12.60% |
| 82 | Lexington, KY | $750 | 0.00% | 0.00% | 0.00% | $930 | -2.10% | 1.10% | 0.00% |
| 82 | Memphis, TN | $750 | 0.00% | 15.40% | 17.20% | $790 | -1.30% | 12.90% | 14.50% |
| 85 | Augusta, GA | $740 | 4.20% | 13.80% | 8.80% | $800 | -1.20% | 9.60% | 1.30% |
| 85 | Tallahassee, FL | $740 | 1.40% | 13.80% | 8.80% | $880 | 1.10% | 15.80% | 10.00% |
| 87 | Oklahoma City, OK | $730 | 2.80% | 7.40% | 5.80% | $860 | 0.00% | 13.20% | 14.70% |
| 88 | Indianapolis, IN | $720 | 4.30% | 14.30% | 10.80% | $810 | -2.40% | 15.70% | 11.00% |
| 89 | Bakersfield, CA | $700 | -1.40% | -2.80% | -7.90% | $900 | 0.00% | 5.90% | 3.40% |
| 89 | Greensboro, NC | $700 | -1.40% | 6.10% | 2.90% | $820 | 0.00% | 5.10% | 3.80% |
| 89 | Lincoln, NE | $700 | 1.40% | 14.80% | 14.80% | $940 | -3.10% | 14.60% | 16.00% |
| 92 | Albuquerque, NM | $670 | 1.50% | 6.30% | 11.70% | $840 | 1.20% | 5.00% | 5.00% |
| 93 | Shreveport, LA | $650 | 3.20% | 12.10% | 16.10% | $730 | 4.30% | 14.10% | 14.10% |
| 94 | Tucson, AZ | $640 | 0.00% | -3.00% | -9.90% | $830 | 1.20% | 3.80% | -1.20% |
| 95 | El Paso, TX | $630 | -1.60% | 0.00% | 0.00% | $770 | 0.00% | 2.70% | 4.10% |
| 95 | Lubbock, TX | $630 | 0.00% | 14.50% | 14.50% | $760 | -1.30% | 8.60% | 8.60% |
| 97 | Tulsa, OK | $620 | -1.60% | 0.00% | 3.30% | $780 | 0.00% | 6.80% | 5.40% |
| 98 | Wichita, KS | $610 | 1.70% | 15.10% | 10.90% | $750 | -1.30% | 11.90% | 11.90% |
| 99 | Detroit, MI | $600 | 3.40% | 3.40% | 11.10% | $700 | 2.90% | 7.70% | 11.10% |
| 100 | Akron, OH | $550 | 0.00% | 1.90% | 3.80% | $730 | 4.30% | 7.40% | 10.60% |
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.
To keep up to date with rent changes across the country, like or follow Zumper on Facebook, Twitter, and Instagram. In the market for a new place? Search apartments for rent on Zumper.
Related content
