US rent prices remain flat nationwide

Meanwhile, rent in NYC hits a three-year peak

US rent prices remain flat nationwide

The median rent prices stayed moderate in June, according to Zumper’s latest National Rent Report.

According to the report, the rental price for a one-bedroom unit rose 0.1% to a median of $1,216, while a two-bedroom unit inched forward 0.5% to $1,471 in May. Overall, the prices are up 1.5% and 2.4% on a year to date basis, respectively.

Although the top 10 markets did not see any ranking adjustments, New York City had the biggest monthly growth rate for one-bedroom units, up 4.6% to reach at least a three-year peak of $2,980.

Zumper’s data showed that despite the increase the rest of the US saw many rent prices leveled out, with a number of markets even experiencing large, double-digit year-over-year drops. However, there’s a possibility that rents could still soar in the next months since the moving season has just started.