Zumper just released its latest National Rent Report that covers 100 cities nationwide, aggregates data from over one million active listings, and includes a National Rent Index for one and two-bedroom units.
Highlights
- The spring thaw is here: the median national one-bedroom rent climbed 0.7% month-over-month to $1,519, and two-bedrooms rose 0.4% to $1,903, a sign that spring leasing season is finally pulling prices up as it historically has, after two unusually muted years.
- Meanwhile, Denver ranked as the 26th most expensive rental market in the nation this month with the prices of one and two bedrooms settling at medians of $1,580 and $2,200, respectively.
- Notably, the price of one-bedrooms in Denver is down 7.6% since this time last year, and in Aurora, the price is down 10.4%
“National averages are masking two very different housing markets right now,” explains Shawn Mullahy, CEO of Zumper. “In supply-constrained coastal cities, pricing power has returned quickly. Across much of the Sun Belt, operators are still working through the inventory wave delivered over the last several years. Demand is there, but supply still needs time to normalize.”
A full discussion can be found here: https://www.zumper.com/rent-research/national-rent-report
