Zumper

Zumper National Rent Report: May 2020

Nationally, 2 of the 3 users were financially affected by COVID-19

We recently surveyed Zumper users, a full article will be published in May and found that 67% of them were financially affected by the pandemic. Among those affected, 35% have lost their jobs or received a reduction in wages. Usually, as the warmer months approach, demand and rental prices increase. However, this report shows that in early spring 2020, this is not the case.

Top 10 Markets: All West Coast Cities Have Rental Prices Down

All of our top 10 west coast markets, including 5 cities in California and 1 city in Washington, were on a downward trajectory. In the Bay Area, which accounts for 3 of the 5 most expensive cities in the country, San Francisco, San Jose and Oakland all had room rents down 1 to 4% on a monthly basis. Especially, Rent for a room in San Francisco even fell 6.8% since that time last year. In southern California, rents in Los Angeles and San Diego were down on a monthly basis for both types of rooms. Likewise, Seattle rents were also down on all fronts. Given that California and Washington were two of the first states to adopt on-site or home shelter orders in response to the pandemic, it appears COVID-19 exerted downward pressure on rents in these big cities, which leads to lower prices.

Meanwhile, our top 10 east coast cities like New York and Washington D.C. have seen some growth. New York City saw its bedroom rent go up 3.5%, while that of D.C.

National room rent drops slightly

Overall, national rent for one bedroom decreased 0.1% last month to $ 1,220, while rent for two bedrooms increased 0.2% to 1 $ 474. Since the beginning of the year, the rent for a room has fallen by 0.1%, while the two-bedroom apartments have remained stable.

Top five rental markets

1. San Francisco, California saw its rent for one room drop 1.4% to $ 3,450, while for two rooms, it fell 0.9% to $ 4,500. In particular, on an annual basis, the number of bedrooms has decreased by almost 7%.

2. Rent for a bedroom in New York, NY increased 3.5% to $ 2,950, while rent for two bedrooms increased 1.9% to $ 3,260.

3. Boston, MA climbed one place to rank third among the most expensive cities with one and two bedroom rents of $ 2,500 and $ 2,900 respectively.

4. San Jose, California fell to 5th place with one-bedroom rent down 3.5% to $ 2,460. In contrast, the rent for two bedrooms edged up 0.3% to $ 3,040.

5. Oakland, California completed our top five markets with one-bedroom rent down 2.5% to $ 2,340 and two-bedroom rent down 5% to $ 2,840.

Notable changes in the last month

Ascending

–Madison, WI rent for a room had the highest monthly growth rate in the country, jumping 5.4% to $ 1,170. This pushed the city up 5 places to rank as the 35th most expensive. The two-bedroom apartments were also on an upward trajectory, with rent increasing 3.9% to $ 1,320.

–Laredo, TX rose 5 positions to become the 84th most expensive market with one-bedroom rent up 5.3% to $ 790.

–Winston Salem, North Carolina saw room rent rise 5.2% to $ 810 and up 5 places to rank 79th. Both bedrooms increased 3.5% to $ 880.

–Indianpolis, IN climbed 6 ranks to become the 72nd most expensive city with a jump of 4.9% in room rent to $ 860. In particular, on an annual basis, the rent for a room in this city has increased by almost 15%.

–Fresno, California was propelled from 7 places to 43rd with rent of a room up 4.8% to $ 1,090.

Down

–Salt Lake City, UT and Chesapeake, VA both saw room rent drop 5.4% to $ 1,050 and go 8 positions down to match the 48th most expensive city.

–Milwaukee, WI plunged 10 ranks to 46th with one bedroom rent down 5.4% to $ 1,060 and two bedroom rent down 3.4% to $ 1,130.

– Rent for a room in Mesa, AZ fell 6 places to 63rd place with rent for a room down 5.2% to $ 920. Similarly, the rent for two bedrooms fell 5% to $ 1,150.

–Nashville, TN fell one place to rank as the 22nd most expensive market with one-bedroom rent down 4.9% to $ 1,370. The rent for the two bedrooms fell 4.7% to $ 1,420.

–Tulsa, OK fell one position to 99th and saw room rent drop 4.8% to $ 600, while bedrooms fell 1.2% to $ 800.

Complete data

1 bedroom2 bedrooms
Pos.CityPriceM / M%Y / Y%PriceM / M%Y / Y%
1San Francisco, California$ 3,450-1.40%-6.80%$ 4,500-0.90%0.00%
2New York, NY$ 2,9503.50%3.50%$ 3,2601.90%3.80%
3Boston, MA$ 2,5000.00%3.30%$ 2,9000.00%3.60%
4San Jose, California$ 2,460-3.50%2.10%$ 3,0400.30%3.80%
5Oakland, California$ 2,340-2.50%6.40%$ 2,840-5.00%4.40%
6Washington DC$ 2,2500.90%4.70%$ 2,980-4.80%4.60%
7Los Angeles, CA$ 2,200-2.20%-3.50%$ 3,000-1.30%-3.20%
8Seattle, WA$ 1,790-1.60%-5.30%$ 2,260-1.70%-7.00%
9San Diego, California$ 1,780-1.10%1.70%$ 2,350-2.10%2.20%
tenMiami, FL$ 1,770-0.60%-1.70%$ 2,3000.00%-2.10%
11Santa Ana, California$ 1,7000.60%-4.50%$ 2,1900.00%0.50%
12Fort Lauderdale, FL$ 1,680-1.20%5.00%$ 2,150-0.90%7.50%
13Anaheim, California$ 1,600-3.00%-7.00%$ 1,950-2.00%-3.90%
13Long Beach, California$ 1,6000.60%3.20%$ 2,0000.00%0.00%
13Honolulu, HI$ 1,600-1.20%-9.10%$ 2,000-4.80%-12.30%
16Chicago, IL$ 1,5503.30%0.60%$ 1,8204.60%-2.20%
17Philadelphia, PA$ 1,5000.00%11.90%$ 1,7000.60%0.00%
18Scottsdale, AZ$ 1,470-1.30%8.90%$ 2,030-5.10%-4.20%
19Denver, CO$ 1,440-3.40%-6.50%$ 1,860-3.10%-7.00%
20Atlanta, GA$ 1,420-2.10%-3.40%$ 1,8200.00%0.60%
21New Orleans, LA$ 1,390-2.10%-2.80%$ 1,570-2.50%2.60%
22Minneapolis, MN$ 1,370-1.40%-2.10%$ 1,810-0.50%-4.70%
22Nashville, TN$ 1,370-4.90%4.60%$ 1,420-4.70%7.60%
22Portland, OR$ 1,370-2.10%1.50%$ 1,7002.40%6.30%
25Newark, NJ$ 1,3300.00%15.70%$ 1,5801.90%15.30%
25Providence, RI$ 1,3304.70%-7.60%$ 1,7603.50%11.40%
27Sacramento, California$ 1,3000.00%8.30%$ 1,5500.60%9.90%
28Austin, TX$ 1,270-0.80%5.80%$ 1,540-1.30%2.00%
29Gilbert, AZ$ 1,260-1.60%10.50%$ 1,470-4.50%2.10%
30Dallas, TX$ 1,240-0.80%-0.80%$ 1,6700.60%-2.30%
31Chandler, AZ$ 1,230-2.40%2.50%$ 1,420-3.40%1.40%
32Orlando, FL$ 1,220-4.70%-6.90%$ 1,4000.00%-6.70%
33Baltimore, MD$ 1,2000.00%2.60%$ 1,400-0.70%-4.80%
33Charlotte, North Carolina$ 1,2000.00%0.80%$ 1,310-4.40%0.00%
35Madison, WI$ 1,1705.40%-1.70%$ 1,3203.90%-4.30%
36Plano, TX$ 1,150-2.50%-1.70%$ 1,510-3.80%-3.80%
37Buffalo, NY$ 1,1403.60%15.20%$ 1,3500.70%14.40%
37St. Petersburg, FL$ 1,1404.60%3.60%$ 1,5004.20%-6.30%
39Irving, TX$ 1,110-0.90%1.80%$ 1,450-1.40%-1.40%
40Henderson, NV$ 1,1000.00%-0.90%$ 1,3500.00%2.30%
40Houston, TX$ 1,100-1.80%-6.00%$ 1,310-3.70%-6.40%
40Tampa, FL$ 1,100-1.80%-4.30%$ 1,3500.70%0.00%
43Aurora, CO$ 1,090-0.90%-8.40%$ 1,370-4.20%-2.80%
43Fresno, California$ 1,0904.80%9.00%$ 1,150-4.20%0.90%
45Pittsburgh, PA$ 1,080-0.90%-0.90%$ 1,3503.80%1.50%
46Milwaukee, WI$ 1,060-5.40%9.30%$ 1,130-3.40%10.80%
46Richmond, VA$ 1,060-1.90%1.00%$ 1,300-2.30%3.20%
48Boise, ID$ 1,0501.90%9.40%$ 1,140-5.00%3.60%
48Chesapeake, VA$ 1,050-5.40%6.10%$ 1,200-4.00%-1.60%
48Salt Lake City, UT$ 1,050-5.40%-1.90%$ 1,300-5.10%-5.10%
51Fort Worth, TX$ 1,030-2.80%-6.40%$ 1,2800.00%-0.80%
51Virginia Beach, Virginia$ 1,0303.00%2.00%$ 1,2000.00%0.00%
53Reno, NV$ 1,020-1.90%12.10%$ 1,3100.80%0.00%
54Phoenix, AZ$ 1,0002.00%1.00%$ 1,2500.00%2.50%
55Colorado Springs, CO$ 990-2.00%6.50%$ 1,210-4.70%9.00%
56Raleigh, NC$ 980-3.90%0.00%$ 1,200-1.60%4.30%
57Durham, NC$ 9702.10%-12.60%$ 1,1700.90%-7.90%
57Las Vegas, NV$ 9702.10%-2.00%$ 1,1901.70%3.50%
59Anchorage, AK$ 9502.20%4.40%$ 1,1504.50%1.80%
59Rochester, NY$ 9503.30%13.10%$ 1,1300.00%15.30%
61Cleveland, OH$ 9400.00%16.00%$ 1,0000.00%14.90%
61Kansas City, MO$ 9400.00%0.00%$ 1,0800.90%-0.90%
63Mesa, AZ$ 920-5.20%2.20%$ 1,150-5.00%3.60%
63Norfolk, VA$ 9200.00%15.00%$ 1,0003.10%3.10%
65Des Moines, IA$ 9101.10%12.30%$ 9601.10%11.60%
66Chattanooga, TN$ 9000.00%15.40%$ 1,0000.00%12.40%
66Cincinnati, OH$ 9000.00%15.40%$ 1,1500.00%2.70%
66St Louis, MO$ 9001.10%13.90%$ 1,2100.80%5.20%
69Jacksonville, FL$ 880-2.20%-7.40%$ 1,0700.00%-0.90%
70Glendale, AZ$ 8703.60%11.50%$ 1,1000.90%10.00%
70San antonio, tx$ 8702.40%-3.30%$ 1,090-0.90%-2.70%
72Indianapolis, IN$ 8604.90%14.70%$ 9200.00%13.60%
73Arlington, TX$ 850-1.20%3.70%$ 1,1100.00%1.80%
73Louisville, KY$ 8501.20%-4.50%$ 9502.20%-4.00%
73Omaha, NE$ 8502.40%0.00%$ 1,0303.00%-1.90%
76Corpus Christi, TX$ 8300.00%-2.40%$ 1,0500.00%1.00%
77Bakersfield, California$ 8201.20%5.10%$ 1,060-1.90%8.20%
77Syracuse, NY$ 820-1.20%-15.50%$ 990-2.00%-5.70%
79Columbus, OH$ 8100.00%15.70%$ 1,0700.00%-2.70%
79Knoxville, TN$ 8101.30%2.50%$ 9500.00%5.60%
79Tallahassee, FL$ 810-2.40%6.60%$ 9302.20%5.70%
79Winston Salem, NC$ 8105.20%5.20%$ 8803.50%6.00%
83Spokane, WA$ 8000.00%6.70%$ 1,0000.00%6.40%
84Baton Rouge, LA$ 790-1.30%-7.10%$ 890-2.20%-5.30%
84Laredo, TX$ 7905.30%-4.80%$ 920-4.20%3.40%
86Memphis, TN$ 7802.60%6.80%$ 8400.00%9.10%
87Lincoln, NE$ 7700.00%14.90%$ 9200.00%3.40%
88Augusta, GA$ 750-1.30%0.00%$ 8500.00%7.60%
88Oklahoma City, OK$ 750-1.30%5.60%$ 9202.20%5.70%
90Lexington, KY$ 7300.00%-1.40%$ 9803.20%1.00%
91Greensboro, North Carolina$ 710-1.40%-1.40%$ 8300.00%-2.40%
92Albuquerque, NM$ 700-1.40%2.90%$ 870-2.20%6.10%
92Detroit, MI$ 7000.00%14.80%$ 8000.00%15.90%
92Tucson, AZ$ 7000.00%7.70%$ 9202.20%4.50%
95Wichita, KS$ 6904.50%13.10%$ 7505.60%5.60%
96El Paso, TX$ 670-1.50%4.70%$ 8000.00%6.70%
97Shreveport, LA$ 6401.60%0.00%$ 7605.60%8.60%
98Lubbock, TX$ 630-1.60%0.00%$ 8504.90%6.30%
99Tulsa, OK$ 600-4.80%-4.80%$ 800-1.20%2.60%
100Akron, OH$ 590-3.30%11.30%$ 710-2.70%-2.70%

About

The Zumper National Rent Report analyzes rental data from more than a million active listings in the United States. The data is aggregated on a monthly basis to calculate the median rents requested for the first 100 metropolitan areas by population, providing a complete view of the current state of the market. The report is based on all the data available in the month before publication.

If you are interested in a more in-depth explanation of how and why we calculate our rent data, see our methodology publication.

To keep up to date with rent changes across the country, like or follow Zumper on Facebook, Twitter and Instagram. Looking for a new place? Look for apartments for rent on Zumper.

Related Posts