Zumper: Rent prices see slight jump in April, bringing renters some relief

Mortgage

Good news San Francisco renters! The median rent price for a one-bedroom unit remained at $3,700 for April, according to Zumper’s latest National Rent Report.

Additionally, the price of a two-bedroom apartment declined more than 2%, falling even further from March’s 0.6% decline.

Unfortunately, rent prices ticked up in other parts of the U.S., as the price for one- and two-bedroom units increased 0.1% and 1.2%, respectively.

This means it now costs $1,215 and $1,463 a month to rent the average one-bedroom and two-bedroom units, equating to an annual increase of 2.5% and 2.9%, respectively.

Despite these modest increases, Zumper’s data indicates a substantial amount the country experienced rent relief.

“The rest of the country saw some relief as well since it had the smallest number of cities with double digit year over year rent growth in the past 12 months at least,” Zumper writes. “Only a handful of cities saw large year-over-year growth rates, a vast difference from a few months ago. Meanwhile, Bakersfield had the fastest growing one bedroom rent last quarter, up 5.4%, while Louisville took the largest rent dip, down 5.3%.”

The chart below displays the 25 most expensive rent markets and how they moved in April, according to Zumper. 

(Click to enlarge; image courtesy of Zumper)

Zumper National Rent Report April

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