Zumper’s National Rent Report for May 2020
Rental information site Zumper recently released their National Rent Report for May, 2020 showing that the median national rent for 1-bedroom apartment was $ 1,220 (down 0.1%) and the median two-bedroom rent was $ 1,474 (up 0.2%). Year to date, one-bedroom prices are down 0.1% and two-bedroom prices were flat. Zumper also said they recently conducted a survey of their users about the ongoing pandemic and will share full results later this month.
“We recently ran a survey of Zumper users…and found that 67% were financially impacted from the pandemic. Of those impacted, 35% lost their job or received a pay cut. Usually as the warmer months approach, demand and rent prices pick up. However, this report shows that as we enter into Spring 2020, this is not the case.”
Zumper analyzes rental data from over 1 million active listings across the United States. Data is aggregated on a monthly basis to calculate median asking rents for the top 100 metro areas by population, providing a comprehensive view of the current state of the market. The report is based on all data available in the month prior to publication…..be sure to check out their entire list of 100 cities.
Click on the image to make it interactive.
Click here to read the full report at Zumper.com.
The post Zumper’s National Rent Report for May 2020 appeared first on Real Estate Investing Today.