Meanwhile, rent in NYC hits a three-year peak
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.
