Zumper National Rent Report: March 2021

Market Report provided by Zumper

Some of the most popular destination cities in 2020 were relatively cheaper cities that neighbored significantly more expensive markets. This resulted in pairs of neighboring cities where renters rejected the expensive market in favor of the relatively cheaper one- which in turn caused prices to drop in the expensive market and spike in the cheaper one. The price effects of this phenomenon are still felt in these markets despite slowing trends. The chart below shows some of the most prominent of these “city-pairs” and how price trends have diverged each from a year ago.