Zumper National Rent Report: Septmeber2020

Market Report provided by Zumper

Leading the price decline of cities at the top are San Francisco and New York, the nation’s two priciest cities. Both San Francisco and New York reached the lowest price points they ever have since Zumper started tracking median prices in 2014. Median 1-bedroom price in San Francisco last month was $3040, a 14.1% decrease from a year ago. Median 1-bedroom price in New York was $2700, down 10.9% from a year ago. While the median price for 1-bedroom units in San Francisco hovered above $3000 over the entire month, it dipped below $3000 in the latter half of the month, and will likely stay below $3000 next month if the trend continues.