Nationwide rents remain largely flat during August: report

Miami /
Aug.August 30, 2018 05:30 PM

Nationwide rents remain flat during August. (Credit: Getty Images)

In the battle of West Coast versus East Coast, one might say the former just added another notch under its belt.

The price for a one-bedroom in Santa Ana, located in Orange County, climbed 3.4 percent, knocking Miami off the list of the top 10 most expensive places to rent, according to a new report from Zumper.

Otherwise, rents remained relatively flat nationwide last month, with one- and two-bedroom units rising just 0.1 percent since July. On average, rents for a one-bedroom last month were about $1,200, while a two-bedroom asked $1,450.

With Santa Ana in the top 10, California cities dominated more than half of the ranking.

One-bedroom rentals in Los Angeles averaged $2,320 last month, making it the fourth most expensive city in the country. That reflects an 8 percent hike since last year, and less than 0.5 percent hike since last month.

San Francisco claimed the No.1 spot, with a one-bedroom asking $3,570 per month. San Jose, Oakland and San Diego also placed in the top 10.

On the East Coast, New York led with one-bedroom rentals demanding $2,870 per month. Though its ranking on the list remained stable, rates in the city actually dropped 1 percent since last month. Year over year, they grew 0.7 percent.

Both Miami and Chicago dropped on the list, despite rents remaining flat — both monthly and yearly. In Miami, a one-bedroom asked $1,800 on average last month. Meanwhile, Chicago rents stayed at $1,520 monthly.

Zumper compiles its National Rent Report by analyzing and aggregating rental data from over 1 million active listings across the country.


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