National Rent Report, December 2020

Market Report provided by rentable

National median one- and two-bedroom apartment rent prices rose more significantly in December as one-bedrooms gained 0.55 percent to end the year with a 3.04 percent gain, and two bedrooms tacked on 0.89 percent to end 2020 with a 1.71 percent increase. As we have seen since March, rents in big cities like San Francisco, CA and New York, NY continued to fall while rents in smaller locales like EL Paso, TX and Syracuse, NY moved upward. The numerical spread between the first and last cities on our one-and two-bedroom gainers lists widened, while the spread on our losers lists was tamer. This suggests that we are beginning to see a more active market where gainers outpace losers. Let’s look at the December numbers in detail.