Zumper National Rent Report: December 2020

Market Report provided by Zumper

Price decreases slowed on average for the 3rd consecutive month in expensive markets, indicating that prices in these cities may be approaching a floor and stabilization could happen in the near future. Monthly growth rates in median 1-bedroom prices in the nation’s top 7 rental markets were on average 0.8 percentage points higher than the month prior, which is the highest average growth rate change in these markets all year. Notable outliers to this trend were San Francisco and New York City, the nation’s two most expensive rental markets, which both had lower growth rates last month than the month prior. Growth rates in most of these 7 markets remain negative, but not as low as they were throughout the summer months.