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☆ 28 cities where rent is in free fall this spring — and why renters in New York City have reason for optimism despite paying $4,280 for a one-bedroom apartment
▼ + stars: | 2024-04-26 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Median rent for one-bedroom apartments in the US declined again in April, according to @Zumper. AdvertisementLandlords aren't able to charge tenants more because apartment supply is surging across the nation at the highest rate in decades, according to Zumper. A flood of supply should keep rent growth in check for the remainder of the year and even into 2025, in Zumper's view. Below are the 28 US cities where rent for a one-bedroom apartment is cheaper than it was in March, according to Zumper. Along with each are its month-over-month and year-over-year rent changes, average rent price, and national rent ranking among the top 100 markets in the nation.

Persons: —, iM2zdLRQMA — James Faris, @JamesFaris_, Ivy Zelman, Anthemos Georgiades, Zumper Organizations: Service, Business, Federal Reserve, Apple, Big Apple Locations: New York City, York City

☆ 15 cities where apartments are getting cheaper while rent reaccelerates nationwide
▼ + stars: | 2024-03-27 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

However, as the chart below shows, one-bedroom apartments were 0.5% cheaper than they were last year while two-bedroom places were 0.8% more expensive. 15 cities where rent is decliningApartments across the country generally got more expensive in March, Zumper's report found, though there are some notable exceptions. Two-thirds of the top-100 US real estate markets had higher rent compared to last month while 19 cities were flat, Zumper researchers noted. However, more than a dozen metropolitan areas — many of which were in the Southwest or South regions — actually became cheaper to rent in. Along with each are its month-over-month and year-over-year rent changes, average rent price, and national rent ranking among the largest 100 cities in the US.

Persons: shouldn't, PqameYEcoP — James Faris, @JamesFaris_, it's, Anthemos Georgiades, there's, Zumper, Zumper's Organizations: Business, Zumper, CPI Locations: Realtor.com, Southwest

☆ Renters on a budget should look in these 27 cities where apartment prices are plunging
▼ + stars: | 2024-01-28 | by ( James Faris | ) www.businessinsider.com time to read: +2 min

One-bedroom rent rose by less than 1% for the fifth-straight month after rising for 12 consecutive months starting in October 2021. Rent growth in the US is far from its pandemic peak, according to the January rent report from @Zumper. pic.twitter.com/3QhWPCyaUp — James Faris (@JamesFaris_) January 25, 2024Apartment prices have been driven down by surging supply, Zumper noted. Many renters are now enjoying perks that would've been unheard of during the pandemic, including waived security deposits and a free month of rent, Zumper found. Below are 27 metropolitan areas where the going rental rate for a one-bedroom apartment is at least 5% lower than it was last January, according to Zumper.

Persons: 3QhWPCyaUp — James Faris, @JamesFaris_, Zumper, Anthemos Georgiades Organizations: Business Locations: @Zumper

☆ It's never been a smarter time to rent instead of buying a home — especially in these 32 US cities where landlords' asking prices are plummeting back to earth
▼ + stars: | 2023-11-29 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Buying a home has never been more expensive relative to renting, according to new research from online rental platform Zumper . Rent was up at the slowest year-over-year pace this month since December 2020, according to Zumper. 32 cities where rent is down meaningfullyFortunately for renters, declines in apartment asking prices are both significant and widespread. Below are the 32 cities where the median rent for a one-bedroom setup is at least 3% lower now than it was in 2022, according to Zumper. Along with each metropolitan area are its year-over-year and month-over-month rent changes, average rent price, and national rent ranking among the largest 100 US cities.

Persons: Zumper, Anthemos Georgiades Organizations: Business Locations: Sun

☆ People are fleeing California and New York. Here's where they're moving.
▼ + stars: | 2023-10-27 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +3 min

AdvertisementAdvertisementOver 8.2 million Americans moved to a different state between 2021 and 2022, 100,000 of whom moved from California to Texas. New US Census migration data reveals thousands of Americans are leaving California and New York in favor of Florida and Texas. The California to Texas move remained high for 2021-2022, but on the flip side, only 42,000 Texas residents moved to California. AdvertisementAdvertisementAs New York City become more expensive and elusive, Jersey City has attracted thousands of New Yorkers into new housing developments. Many moved to communities with easy access to New York City without paying city prices — and many have stayed remote.

Persons: —, Zillow Organizations: Service, Texas ., Sunshine State, New Locations: Texas, Arizona, Washington, New, Florida, California, Texas . New, New York, Nevada , Washington, Oregon, Arizona , Washington, Nevada, Yorkers, Georgia, Knoxville, Greenville, New Jersey, New York City, Jersey City, Connecticut, —, Tennessee , Utah, South Carolina

☆ Goldman Sachs shares 10 US metro areas where home prices are still rising — and 10 where houses have gotten cheaper over the last year
▼ + stars: | 2023-10-14 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Aspiring homebuyers won't like what Goldman Sachs has to say about the housing market. Home prices will likely end this year up 1.8% before accelerating by 3.5% in 2024, according to Goldman Sachs' latest projections. By contrast, some cities in the West and Southwest saw prices plunge after soaring significantly during the pandemic. Ten of these metropolitan areas saw outsized property price growth while the other half saw prices decline from 2022. Along with each city is its year-over-year growth, total and annualized price growth since 2000, and median price.

Persons: homebuyers, Goldman Sachs, Roger Ashworth, Goldman, Corelogic, Ashworth Locations: Goldman Sachs, West, Southwest, Denver , Colorado

☆ These are the 10 best cities for apartment dwellers as mortgage rates stay oppressively high — and the 3 housing markets where buying a home is actually cheaper than renting
▼ + stars: | 2023-09-30 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Lower rent prices and multi-decade-high mortgage rates mean that it's smarter to rent than buy in most large US cities right now, according to Realtor.com. Disparities between buying and renting stemmed from a split in how median costs changed in the last 12 months. "The advantage of renting became more pronounced in all rent-favoring markets," Xu and Hale wrote. But there were three cities where buying was actually cheaper than renting in August, according to Realtor.com: Memphis, Tennessee; Pittsburgh, Pennsylvania; and Birmingham, Alabama. Below are the 10 metro areas where renting makes more sense than buying right now, along with the median rent, the median monthly cost of buying and how it compares to renting, and the year-over-year changes for renting and buying.

Persons: Jiayi Xu, Danielle Hale, Xu, Hale, Realtor.com, Freddie Mac Locations: Realtor.com, Memphis , Tennessee, Pittsburgh , Pennsylvania, Birmingham , Alabama

☆ A record number of Americans are shelling out one-third of their income on rent right now — but apartments in these 47 cities are getting increasingly affordable
▼ + stars: | 2023-09-28 | by ( James Faris | ) www.businessinsider.com time to read: +2 min

The silver lining is that rent growth for a one-bedroom setup rose by just 0.5% year-over-year, which is by far the lowest rate in the last 12 months. 47 cities where rent is fallingFurther evidence that rent growth has cooled is found in Zumper's monthly list of the 100 largest US real estate markets. Only 43 of those cities saw rent rise from September 2022, while the remainder saw year-over-year growth either flatline or go negative. Below are 47 markets where the median rent for a one-bedroom apartment is more affordable now than it was in 2022, according to Zumper. Along with each location are its year-over-year and month-over-month rent changes, average rent price, and national rent ranking among the largest 100 US cities.

Persons: Zumper, would've, Georgiades, they're Organizations: Harvard

☆ Rent growth nosedived again in August as tenants gain leverage over landlords — and apartments in these 42 cities are actually cheaper now than they were last year
▼ + stars: | 2023-08-31 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Rent growth is rapidly decelerating across the US after taking off during the pandemic. Lower rent growth means that the cost of an apartment is still climbing, just at a slower pace. Renting may be expensive, but considering how many are feeling about the economy, it's easy to see why so many are sticking to apartments — especially as rent growth steadily slides. 42 cities that are getting more affordableBelow are 42 real estate markets where median rent for a one-bedroom apartment is lower than it was in 2022, according to Zumper. Along with each city are its year-over-year and month-over-month rent changes, average rent price, and national rent ranking among the largest 100 US cities.

Persons: Price, Anthemos Georgiades, Georgiades

☆ Rent growth has plummeted to a two-year low as inflation continues to cool — and apartments in these 38 cities are getting more affordable fastest
▼ + stars: | 2023-07-30 | by ( James Faris | ) www.businessinsider.com time to read: +2 min

Here are 38 cities where rent is cheaper than it was last year, according to Zumper. ZumperLower rent growth comes as inflation falls from multi-decade-highs. While rent growth is modest compared to the double-digit rates of 2022, renters are contending with an affordability crisis, Zumper's researchers noted. That's a recipe for lower rent growth, but not a dramatic dip. Along with each city are its year-over-year and month-over-month rent changes, average rent price, and national rent ranking among the largest 100 US cities.

Persons: Anthemos Georgiades, Lofty, Georgiades

☆ High-earners could save 40% of their salary by moving from New York to Texas because of cheaper living costs and lower tax rates, report says
▼ + stars: | 2023-07-21 | by ( Sawdah Bhaimiya | Junior Reporter | Business News | ) www.businessinsider.com time to read: +2 min

High-earners in New York could save 40% of their salary by moving to Texas, a new study shows. This is because New York City has higher tax rates and living costs. High-earners in New York City could save 40% of their salary by relocating to Texas, a new study found. This is because after accounting for tax and the cost of living, you'd have only $160,717 left in New York but in Austin, you'd have $418,929 left. Some young professionals are being pushed out of New York City because wages are not keeping up with increasing costs.

Persons: SmartAsset, San Francisco Organizations: New, New York City, Council for Community, Economic Research, Smart Asset, New York, San Locations: New York, Texas, San Francisco, Austin , Texas, Austin, Austin it's, New York City

☆ The top places for digital nomads are miles from the hottest Zoomtowns. Cities in the Midwest and West have an advantage on rents, restaurants, and transportation.
▼ + stars: | 2023-06-14 | by ( Al Yoon | ) www.businessinsider.com time to read: +2 min

Midwestern cities were prominent in Zumper's list of best places for digital nomads. Zumper also took transportation, restaurant, and entertainment offerings into account. In 2021, the number of these digital nomads rose 42%, topping 10 million, MBO partners, a self-employment tech provider, found. It based its findings on myriad factors including short-term rental prices, ease of access to airports and other transportation, restaurant and entertainment offerings, air and WiFi quality. The cost of a short-term rental held the most weight in the ranking.

Persons: —, Zumper, It's Organizations: Service, Nomads Locations: Placer.ai, Austin , Texas, Florida, Columbus , Ohio, Kansas City , Missouri, Chicago, Detroit , Michigan

☆ The 5 U.S. cities expected to have the highest rent prices in 2023
▼ + stars: | 2022-12-18 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

There are five cities where rent prices are predicted to cost the most next year, based on existing rent prices and projected demand, per an analysis provided by Zumper. Here's a look at the cities where rent is expected to be most expensive for a one-bedroom home, as well as price trends in each. New York CityMedian rent in December 2022 : $3,738: $3,738 Median rent in December 2020 : $2,399: $2,399 Percent change: 56% Prior to the pandemic, median rent for a one-bedroom home in the Big Apple was closer to $3,000. "We've seen record numbers of applications for apartments" in areas around New York City, Chen says. Luckily, rent prices have not climbed back up to the city's pre-pandemic peak of $3,700 in 2019.

☆ Boston is now America's second most expensive city for renters
▼ + stars: | 2022-11-10 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

On top of that, new rentals that do become available skew toward the luxury market, pushing median rent prices even higher. One reason Boston is experiencing a spike in rental prices: there just aren't many homes available, Zumper reports. The median price for a one-bedroom rental in Boston jumped by nearly 6% in October to $3,060 per month. Move over San Francisco — Boston is now the second most expensive city for a one-bedroom rental, behind only New York City, according to Zumper's latest national rent report. And even though New York City still ranks as the most expensive city to rent a one-bedroom, median rent prices have fallen about 2% compared with September.

☆ Boston ranks as the second-most expensive city for renters in the US, behind New York City. See the full list.
▼ + stars: | 2022-10-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

New York City still holds the top spot as the most expensive city in the country for renters. Average rents in Boston have jumped, making it the second-most expensive city for renters in the US. New York City still holds the top spot on Zumper's list of most expensive cities for renters. In Boston, the average price for a one-bed apartment rose by 5.9% month-on-month to $3,060. Per the data, the city is the second-most expensive for renters in the US, ahead of San Francisco.

☆ The 5 U.S. cities where rent prices decreased the most in August
▼ + stars: | 2022-09-18 | by ( Molly Schiff | ) www.cnbc.com time to read: 1 min

Across the U.S., rent prices continue to soar. That's according to real estate site Zumper's recently released national rent report for August 2022, which shows a continuation of record-high prices for one-bedroom apartments. Zumper analyzed national rental data from over 1 million active listings in the U.S. to find the median asking rent in the 100 most populous cities. New York City, unsurprisingly, saw a 46.7% year-over-year increase in one-bedroom rental prices. However, median rent prices did decrease in a few places.

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