January 1, 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

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Rents hit another all-time high