The pace of rent growth shows signs of getting back to normal nationwide.
Zumper ranked the 100 most rent rising cities in the US and New York City took the first place in this list. According to their data, the median price for a one-bedroom apartment in New York stands at $3,180 and a two-bedroom at $3,480.
According to Zumper’s National Rent index new data release the rent growth in 2021 has been dramatic. Throughout the 11 month period the median one bedroom rent is up to 12.1%. Meanwhile, two-bedrooms are up at 13.2 percent.
Combined 2019 and 2020 are showing less rent rise than it is this year. From June to September, the rise in rent ranged between 1.6% 2.2%. But it did slow down a little from November at the pace of 0.5% for one-bedrooms and 0.4% for two-bedroom.
Generally rent trends rise seasonally, where rent is usually higher during summer and spring and drops during fall and winter time. Throughout the pandemic, seasonal pattern has been broken but Zumper’s November data possibly indicated that the seasonal pattern is returning, and rent growth will continue to slow down as a result.
Read the full report at www.zumper.com
