Rental information site Zumper recently released their National Rent Report for December showing that the median national rent for 1-bedroom apartment was $1,212 and the median two-bedroom rent was $1,430. Year over year, both one and two bedroom prices are up 1.9% and 3.9%, respectively. Zumper 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…..be sure to check out their entire list of 100 cities.
As for 2019; Zumper predicts:
“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.”
Click here to read the full report at Zumper.com.