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National Rent Report Update

Hallie A • November 15, 2023

The October Report is In! frined

Our Zumper National Rent Report is in! Here's the big trends:


  1. The national medians for both one and two bedrooms are down month-over-month—a continuation of the price softening we’ve observed over the last year, and a trend we expect to continue throughout the winter.
  2. The national median for one-bedrooms is now $1,505 and the two-bedroom median is $1,862. 
  3. Cities across the Sun Belt are seeing more significant price drops, as new supply comes online in markets like Phoenix and Austin while, simultaneously, migration to these areas is slowing. 
  4. Red-hot New York City continues to defy national trends: The median one-bedroom rent in New York City is $4,240 and the two-bedroom median is $4,780.


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