Economy Watch: Top Rental Markets Still Seeing Price Increases | Multi-Housing News

Despite talks of a pricing slowdown, the most expensive rental markets in the U.S. saw price increases in April, according to Zumper’s latest report. San Francisco and New York City remain the top two rental markets in the country.

Changes in apartment asking rents in the top 100 U.S. rental markets were a mixed bag in April, according to the latest Zumper National Rent Report, with some markets seeing increases in rental rates, and others drops. Moreover, in the most expensive markets, pricing trends were mostly upwards, while middle-tier and bottom-tier markets saw more mixed results

It’s only a month’s worth of data, but as peak moving season approaches, these results could indicate landlords are beginning to price apartments to reflect the upcoming increased turnover, said Zumper CEO Anthemos Georgiades in the report.

Overall, the index showed one-bedroom unit rents increase 1.9 percent to a median of $1,164, while two-bedroom unit rents grew 1.8 percent to $1,377. Examples of median rents rising for the month in high-priced markets include San Francisco (up 1.5 percent to $3,330), San Jose (up 3.7 percent to $2,260) and Oakland (up 3.5 percent to $2,070).

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Economy Watch: Top Rental Markets Still Seeing Price Increases.