September’s Rental Markets

As real estate consumers and agents look increasingly towards investments in rental properties, here is the latest information on September’s rental markets across the country, according to Zumper’s National Rent Report.

(Zumper collects and analyzes rental data from over 1M active rental listings to determine median asking rents for the top 100 metro markets by population.)

Zumper’s monthly growth rate is 0.1% m/m. The yearly growth rate slightly increased for both one and two bedroom units.

• one bedroom median rent of $1,209 – up +2.2% y/y
• two bedroom median rent of $1,447 – i[ +3.2% y/y

Top 5 Rental Markets in September 2018

1. San Francisco
   1. One bedroom median rent of $3,570 – up +2% m/m
   2. Two bedroom median rent of $4,700 – down -0.6% m/m
2. New York City
   1. One bedroom median rent of $2,870 – down -1% m/m
   2. Two bedroom median rent of $3,270 – down -0.6% m/m
3. San Jose
   1. One bedroom median rent of $2,550 – flat m/m
   2. Two bedroom median rent of $2,970 – down 1.35% m/m
4. Los Angeles
   1. One bedroom median rent of $2,320 – flat m/m
   2. Two bedroom median rent of $3,200 – flat m/m
5. Boston
   1. One bedroom median rent of $2,310 – down -1.3% m/m
   2. Two bedroom median rent of $2,700 – down -1.8% m/m

September’s Upward Rental Markets

1. Santa Ana – 1st time ranked in the top 10 as the 8^th priciest
   3. One bedroom median rent of $1,830 – up +3.4% m/m and +6.4% y/y
   4. Two bedroom median rent of $1,520 – flat m/m and +9.7% y/y
2. Providence – ranked 20^th priciest
   5. One bedroom median rent of $1,440 – up +5.1% m/m and +0.7 y/y
   6. Two bedroom median rent of $1,460 – stable m/m and up +3.4% y/y
3. Sacramento – tied with Dallas & Houston at 27^th priciest
   11. One bedroom median rent of $1,260 – up +5% m/m and +11.5% y/y
   12. Two bedroom median rent of $1,460 – up +3.5% m/m and +13.2% y/y
4. Winston Salem – tied with Cincinnati & Columbus at 75^th priciest
   5. One bedroom median rent of $800 – up +5.3% m/m and + +15.9% y/y
   6. Two bedroom median rent of $840 – flat m/m and up +15.1% y/y
5. Detroit – 94^th priciest
   14. One bedroom median rent of $630 – up +5% m/m and up +14.5% y/y
   15. Two bedroom median rent of $720 – up +4.3% m/m and +14.3% y/y

September’s Downward Rental Markets

1. Portland – fell 3 spots to 22^nd priciest
   5. One bedroom median rent of $1,440 – down -5.1% m/m and up +3.7% y/y
   6. Two bedroom median rent of $1,640 – down -5.2% m/m and up +2.5% y/y
2. Petersburg – fell 2 spots to 50
   1. One bedroom median price of $1.010 – down -2.9% m/m and up +9.8% y/y
   2. Two bedroom median rent of $1,520 – up +1.3% m/m and up +15.2% y/y
3. Syracuse – fell 4 spots to 68^th
   4. One bedroom median price of $830 – down -4.6% m/m and flat y/y
   5. Two bedroom median rent of $1,060 – down -5.4% m/m and up 11.6% y/y
4. Lexington tied with Memphis at 83^rd spot
   5. One bedroom median rent of $750 – down -5.1% m/m and down -5.1% y/y
   6. Two bedroom median rent of $910 – down -3.2% m/m and down -2.2% y/y
5. Akron – least expensive in country & ranked 100^th
   5. One bedroom median rent of $540 – down -5.3% m/m and up +12.1% y/y

To read the entire report, click

https://www.zumper.com/blog/2018/08/zumper-rent-report-september-2018/

Be sure to note yearly increases in Santa Ana, San Diego, Long Beach, Philadelphia, Denver, Atlanta, Baltimore, New Orleans and Nashville.         And note yearly decreases in Scottsdale, Dallas, Chicago, Honolulu, Miami and Washington DC.