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National rent report shows median price of one-bedroom units in NYC are now over $4K

Sep. 27, 2023 By Ethan Marshall

According to Zumper’s latest National Rent Report, the median rental price for one-bedroom units across New York City has risen above $4,000. New York City retained its rank as the most expensive city to pay rent among the 100 cities included in the study.

One-bedroom units in New York City set a new record with the rent increasing 2.3% from August to September to $4,080. This also represented a 3.3% increase from September 2022. This rent is nearly 29% more than the next-highest on the list, Jersey City, which has a one-bedroom rent of $3,170. This comes despite the national median for one-bedroom homes increasing just 0.5% compared to September 2022, the smallest year-over-year increase in more than two years.

Two-bedroom units also experienced rent increases in New York City. At $4,580 this month, the median rent for September is 1.8% more than August and 3.9% more than the median rent in September 2022.

The Zumper National Rent Report analyzes rental data from more than 1 million active listings across the country, which are then aggregated on a monthly basis to calculate median asking rents for the top 100 cities by population and migration patterns. This provides a more comprehensive view of the current state of the market. Any data reported does not factor in short term listings.

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