Rent Hits All-Time High
The national average price of rent hit another all-time high, with median one-bedroom rent spiking 12% year-over-year, to $1,374.
The new record-high comes as inflation continues to impact Americans’ wallets.
Zumper, an online apartment rental website, has been tracking rental price data since 2014.
Data shows that the median two-bedroom rent is up 14.1%, rising to $1,698.
“For the national index to move by double digits takes incredible price increases everywhere, and that’s exactly what we’re seeing,” Zumper said in a press release.
“These still-rising prices also reflect a pre-existing housing shortage that will likely continue to push rent up in 2022.”
January 2022: 1 Bedroom Median Rent Prices
|1. New York, NY||$3,260|
|2. San Francisco, CA||$2,850|
|3. Boston, MA||$2,720|
|4. San Jose, CA||$2,390|
|5. Miami, FL||$2,340|