Policy- Average rents across the US have dropped for the second consecutive month, according to data.
- New York City still holds the top spot as the most expensive city in the country for renters.
Average rents across the US have dropped for the second consecutive month, according to a new report from the rental platform, Zumper.
Across the country, the median rent decreased by 0.8% for one-bedroom apartments and 0.7% for two-bedroom apartments.
New York City still holds the top spot on Zumper's list of most expensive cities for renters. The average price for a one-bedroom apartment in the city was $3,860, down 2.3% since last month but up 24.5% year-on-year. The average cost of a two-bed in New York was $4,300, according to the data.
In Boston, the average price for a one-bed apartment rose by 5.9% month-on-month to $3,060. The price of a two-bed also increased by 4.2% to $3,500, according to the report.
Per the data, the city is the second-most expensive for renters in the US, ahead of San Francisco. The average price of a one-bed in the California city was $3,020, down by 2.6% from the previous month.
Here's the full list:
1. New York
Average rent for a one-bed apartment is $3,860.
2. Boston
Average rent for a one-bed apartment is $3,060.
3. San Francisco
Average rent for a one-bed apartment is $3,020.
4. San Jose
Average rent for a one-bed apartment is $2,600.
5. Miami
Average rent for a one-bed apartment is $2,510.
6. San Diego
Average rent for a one-bed apartment is $2,500.
7. Los Angeles
Average rent for a one-bed apartment is $2,410.
8. Washington DC
Average rent for a one-bed apartment is $2,310.
9. Oakland
Average rent for a one-bed apartment is $2,200.
10. Santa Ana
Average rent for a one-bed apartment is $2,150.