Zumper National Rent Report: February 2020

The top 10 markets saw a mixture of growth rates in this report. New York City and Washington D.C. were both on upward year-ver-year trends: New York City one bedroom rent was up nearly 8%, while D.C. two bedroom rent was up over 15%. On the flip side, cities that had rents down on all fronts, both on a monthly and year over year basis, included Seattle and San Diego.

Meanwhile, St. Louis had the fastest growing rent in the nation last month, up 4.3%, while Providence saw the biggest rental dip, falling 5.2%.

Overall, the national one and two bedroom rents both grew 0.3% last month to settle at medians of $1,220 and $1,464, respectively. On a year to date basis, one bedroom rent was flat while two bedrooms are up 0.7%.

Top Five Rental Markets

1. San Francisco, CA saw one bedroom rent grow 0.6% to $3,520, while two bedrooms increased 1.1% to $4,550.

2. New York, NY one and two bedrooms both had relatively flat monthly growth rates and settled at $3,000 and $3,370, respectively. Notably, on a year over year basis, one bedroom rent is up nearly 8%.

3. Boston, MA one bedroom rent had the largest monthly decline in the top 10 markets, falling 3.5% to $2,500. Two bedrooms, meanwhile, decreased 1% to $2,900.

4. Oakland, CA held on steady as the 4th most expensive city, though one bedroom rent dropped 1.2% to $2,470. Two bedrooms, on the other hand, grew 1.7% to $3,050.

5. San Jose, CA continued to round off the top 5 markets with one bedroom rent decreasing a slight 0.4% to $2,440, while two bedrooms grew 1.7% to $2,960.

Notable Changes This Past Month

Upward

St. Louis, MO moved up 3 spots in our ranking to become the 71st priciest city with one bedroom rent jumping 4.9%, which was the largest monthly growth rate in the nation, to $860 and two bedrooms increasing 4.3% to $1,200.

Rochester, NY saw one bedroom rent climb 4.3%, settling at $970, and up 4 positions to rank as the 57th most expensive market. Two bedrooms had a more modest growth rate, up 0.9% to $1,110.

Houston, TX one bedroom rent grew 3.9% to $1,070, which pushed the city up one ranking to become 47th. Two bedrooms had a slightly larger uptick, increasing 4% to $1,310.

Chesapeake, VA was catapulted up 8 spots to 37th by its 3.7% monthly one bedroom rental growth rate.

Plano, TX jumped up 2 positions to 31st with one bedroom rent climbing 3.4% to $1,230.

Downward

Providence, RI one bedroom rent had the largest monthly decline in the country, dropping 5.2% to $1,270. Two bedrooms had a smaller downturn, decreasing 0.6% to $1,590.

Pittsburgh, PA fell 4 spots to become the 35th most expensive city with one bedroom rent declining 5% to $1,150 and two bedrooms down 5.1% to $1,310.

Tulsa, OK saw one bedroom rent drop 1 position to 100th with one bedroom rent decreasing 4.7% to $610 and two bedroom rent falling 2.4% to $810.

Lubbock, TX took a dip to 98th with one bedroom rent declining 4.6% to $620.

Shreveport, LA one bedroom rent decreased 4.6% to $620 and moved down 1 ranking to become the 98th priciest.

Full Data

  1 Bedroom  2 Bedrooms  
Pos.CityPriceM/M %Y/Y %PriceM/M %Y/Y %
1San Francisco, CA$3,5200.60%-1.70%$4,5501.10%-1.90%
2New York, NY$3,0000.00%7.90%$3,370-0.60%5.30%
3Boston, MA$2,500-3.50%3.30%$2,900-1.00%5.80%
4Oakland, CA$2,470-1.20%4.20%$3,0501.70%6.60%
5San Jose, CA$2,440-0.40%-3.60%$2,9601.70%-2.30%
6Washington, DC$2,3001.80%8.00%$3,0500.30%15.10%
7Los Angeles, CA$2,2600.00%-5.80%$3,030-1.00%-5.30%
8Seattle, WA$1,830-3.20%-5.70%$2,270-3.00%-12.70%
9Miami, FL$1,7601.10%0.00%$2,2801.30%-5.00%
10San Diego, CA$1,750-2.20%-8.40%$2,350-1.70%-4.50%
11Fort Lauderdale, FL$1,6401.90%0.00%$2,180-0.50%9.00%
11Santa Ana, CA$1,6401.90%-7.90%$2,100-0.50%-3.70%
13Anaheim, CA$1,600-2.40%-6.40%$2,000-0.50%-8.30%
13Long Beach, CA$1,6000.00%-4.20%$2,0000.00%-5.20%
15Honolulu, HI$1,580-1.30%-5.40%$2,100-2.30%0.00%
16Chicago, IL$1,5202.00%-3.20%$1,7301.80%-8.50%
17Denver, CO$1,510-1.90%0.00%$1,950-1.50%1.00%
18Scottsdale, AZ$1,460-2.00%5.00%$2,1904.30%14.70%
19Philadelphia, PA$1,450-3.30%4.30%$1,6500.60%-5.20%
20Atlanta, GA$1,4300.70%-4.00%$1,8201.70%-3.20%
21Nashville, TN$1,4102.20%5.20%$1,4503.60%3.60%
22Minneapolis, MN$1,4000.70%0.00%$1,750-2.80%-9.30%
22New Orleans, LA$1,400-0.70%-2.10%$1,580-3.10%3.30%
22Portland, OR$1,4002.90%2.20%$1,660-2.40%-2.40%
25Newark, NJ$1,3300.00%15.70%$1,510-3.20%15.30%
26Sacramento, CA$1,3000.80%2.40%$1,5002.70%4.20%
27Providence, RI$1,270-5.20%-14.80%$1,590-0.60%1.90%
28Gilbert, AZ$1,2601.60%11.50%$1,4500.00%7.40%
29Orlando, FL$1,250-0.80%-3.10%$1,390-2.80%-5.40%
30Austin, TX$1,2400.80%6.00%$1,5200.00%4.10%
31Plano, TX$1,2303.40%8.80%$1,6000.00%6.70%
32Chandler, AZ$1,2200.80%6.10%$1,400-2.10%2.20%
33Charlotte, NC$1,1600.00%0.00%$1,2800.00%-2.30%
33Dallas, TX$1,1600.00%-7.20%$1,580-0.60%-4.20%
35Baltimore, MD$1,150-2.50%-14.80%$1,400-0.70%-11.90%
35Pittsburgh, PA$1,150-5.00%0.00%$1,310-5.10%-0.80%
37Buffalo, NY$1,130-0.90%14.10%$1,3600.00%15.30%
37Chesapeake, VA$1,1303.70%14.10%$1,200-0.80%-4.00%
37Henderson, NV$1,130-0.90%4.60%$1,3500.00%5.50%
37Madison, WI$1,130-1.70%-7.40%$1,310-0.80%-10.30%
37Salt Lake City, UT$1,130-1.70%5.60%$1,350-2.90%-4.90%
42Milwaukee, WI$1,1200.00%15.50%$1,1700.00%14.70%
43Tampa, FL$1,110-1.80%-2.60%$1,3400.80%0.00%
44Irving, TX$1,1000.90%-4.30%$1,4300.70%-4.00%
44Richmond, VA$1,100-1.80%3.80%$1,320-2.90%6.50%
46Aurora, CO$1,080-1.80%-9.20%$1,4100.00%-2.80%
47Houston, TX$1,0703.90%-7.00%$1,3104.00%-7.10%
48Reno, NV$1,030-1.00%7.30%$1,3003.20%-0.80%
49St Petersburg, FL$1,0201.00%-9.70%$1,4405.10%-4.60%
50Boise, ID$1,0000.00%4.20%$1,1601.80%5.50%
50Fresno, CA$1,0001.00%0.00%$1,2000.00%5.30%
50Raleigh, NC$1,0000.00%0.00%$1,190-0.80%3.50%
50Virginia Beach, VA$1,0000.00%0.00%$1,1900.80%-0.80%
54Colorado Springs, CO$990-1.00%4.20%$1,2200.00%9.90%
54Durham, NC$990-2.90%-10.80%$1,1300.00%-11.00%
56Fort Worth, TX$980-3.90%-10.90%$1,2600.80%2.40%
57Phoenix, AZ$970-1.00%2.10%$1,230-0.80%5.10%
57Rochester, NY$9704.30%15.50%$1,1100.90%13.30%
59Cleveland, OH$9400.00%16.00%$1,0000.00%14.90%
59Las Vegas, NV$940-1.10%-5.10%$1,150-0.90%0.00%
61Mesa, AZ$9202.20%5.70%$1,1503.60%12.70%
61Norfolk, VA$9200.00%15.00%$1,0004.20%1.00%
63Anchorage, AK$9101.10%2.20%$1,1000.00%0.00%
63Kansas City, MO$910-3.20%-3.20%$1,010-1.00%-3.80%
65Chattanooga, TN$9000.00%15.40%$1,000-2.90%12.40%
65Cincinnati, OH$9000.00%15.40%$1,110-5.10%-0.90%
67Glendale, AZ$890-4.30%4.70%$1,0600.00%7.10%
67Jacksonville, FL$890-1.10%-8.20%$1,000-2.00%-7.40%
69Des Moines, IA$8802.30%8.60%$9202.20%7.00%
70Arlington, TX$8701.20%6.10%$1,1000.00%0.90%
71San Antonio, TX$860-2.30%-4.40%$1,090-0.90%-5.20%
71St Louis, MO$8604.90%8.90%$1,2004.30%4.30%
73Louisville, KY$8401.20%-4.50%$900-3.20%-14.30%
74Corpus Christi, TX$8301.20%-4.60%$1,0400.00%-5.50%
74Tallahassee, FL$8300.00%9.20%$9000.00%2.30%
76Indianapolis, IN$8200.00%9.30%$890-1.10%9.90%
77Columbus, OH$8101.30%15.70%$1,0500.00%-1.90%
77Knoxville, TN$8100.00%0.00%$9501.10%5.60%
77Lincoln, NE$8100.00%15.70%$9301.10%0.00%
77Omaha, NE$8101.30%-2.40%$1,0000.00%-4.80%
81Bakersfield, CA$800-1.20%12.70%$9805.40%8.90%
81Syracuse, NY$800-1.20%-14.90%$950-5.00%-5.00%
81Winston Salem, NC$8000.00%2.60%$810-2.40%-3.60%
84Spokane, WA$7701.30%2.70%$1,010-1.90%7.40%
85Oklahoma City, OK$7600.00%2.70%$9001.10%3.40%
86Augusta, GA$7500.00%0.00%$830-1.20%3.80%
86Baton Rouge, LA$750-1.30%-9.60%$8800.00%-6.40%
86Memphis, TN$750-2.60%1.40%$790-2.50%-1.30%
89Lexington, KY$7401.40%-5.10%$930-2.10%-5.10%
90Greensboro, NC$7301.40%1.40%$8302.50%1.20%
91Detroit, MI$710-1.40%14.50%$800-2.40%9.60%
91Laredo, TX$7100.00%-14.50%$930-2.10%2.20%
93Albuquerque, NM$7000.00%6.10%$8502.40%2.40%
94Tucson, AZ$6801.50%6.30%$8801.10%3.50%
94Wichita, KS$6801.50%11.50%$7304.30%-1.40%
96El Paso, TX$660-1.50%6.50%$790-1.30%1.30%
97Akron, OH$6403.20%14.30%$7101.40%-4.10%
98Lubbock, TX$620-4.60%-1.60%$8000.00%6.70%
98Shreveport, LA$620-4.60%-1.60%$7101.40%1.40%
100Tulsa, OK$610-4.70%-4.70%$810-2.40%1.30%

About

The Zumper National Rent Report analyzes rental data from over 1 million active listings across the United States. Data is aggregated on a monthly basis to calculate median asking rents for the top 100 metro areas by population, providing a comprehensive view of the current state of the market. The report is based on all data available in the month prior to publication.

If you’re interested in a more in-depth explanation of how and why we calculate our rent data, view our methodology post.

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