Today we are excited to publish the first Zumper Monthly Rent Report. In this publication, we track the monthly median rents across major US cities and their constituent neighborhoods.
Whether you’re interested in tracking the 1 bedroom rent evolution across the US rental market, or you just want to check out what the most expensive neighborhood in your city is, this report is for you.
Below is the high-level summary from the Zumper rent tracker for 25 major US cities for the month of August:
Want to read more? Download the full August report here: August 2014 Rent Report.
Highlights from August 2014:
NYC vs. SF rent war – no clear winner yet. The median rent for 1 bedroom apartments in San Francisco now exceeds that in NYC. But the median price per bedroom in apartments in NYC (from studios to 4+ bedroom homes) is still higher. New York is also home to the most expensive neighborhoods in the US (Tribeca, DUMBO and Flatiron District make the top 3).
Boston – 3rd most expensive US metro. Rental prices for Boston are some of the highest in the nation, ranking third only after New York and San Francisco. Boston places 13 of its neighborhoods in the Top 100 most expensive US ‘hoods for renting a 1-bedroom apartment (vs. 44 for NYC and 31 for the Bay Area).
Detroit – the cheapest major US metro. Renting a 1 bedroom apartment in Detroit will only cost you $565 per month on average. Want to save more money? Get some roommates: the median price per bedroom is only $272 per month.