Report: 1-Bedroom Average Rent Rose 12.3 Percent Nationally in One Year

The national median prices for one-bedroom and two-bedroom rental units have skyrocketed as rent climbs sharply in cities across the country amid inflation, according to a report.

Rental platform Zumper has released its February National Rent Index report, which found the median rent for a one-bedroom apartment in the United States is $1,393, while the median two-bedroom rental goes for $1,708 — both all-time highs. In nine of the past ten months, the median one-bedroom price has reached new all-time peaks, while the median two-bedroom price has shattered records for 13 consecutive months, the report finds.

Moreover, the national median rent for a one-bedroom unit has increased 12.3 percent from February of 2021 to February of 2022 and is 1.4 percent higher than the previous month. “That one month of growth is more than twice the amount experienced in all of 2020 (0.6 percent), and more than four times experienced in 2019 (0.3 percent). In short, rent is continuing to rise at breakneck speeds,” the report states. The national median for two-bedroom units has jumped over 13 percent year-over-year.

According to Zumper, the ten cities with the highest one-bedroom rent prices include:

1. New York City, New York
   • 1-Bedroom Median: $3,100;  Year over Year Increase: 26 Percent
   • 2-Bedroom Median: $3,300; Year over Year Increase: 29.4 Percent
2. San Francisco, California
   • 1-Bedroom Median: $2,930; Year over Year Increase: 10.6 Percent
   • 2-Bedroom Median: $3,970 Year over Year Increase: 13.4 Percent
3. Boston, Massachusetts
   • 1-Bedroom Median: $2,700; Year over Year Increase: 31.7 Percent
   • 2-Bedroom Median: $3,090; Year over Year Increase:  23.6 Percent
4. San Jose, California
   • 1-Bedroom Median: $2,470; Year over Year Increase: 13.3 Percent
   • 2-Bedroom Median: $2,930; Year over Year Increase: 9.3 Percent
5. Miami, Florida
   • 1-Bedroom Median: $2,420; Year over Year Increase: 34.4 Percent
   • 2-Bedroom Median: $3,220; Year over Year Increase: 34.2 Percent
6. Washington, DC
   • 1-Bedroom Median: $2,220; Year over Year Increase: 13.3 Percent
   • 2-Bedroom Median: $2,950; Year over Year Increase: 10.9 Percent
7. Los Angeles, California
   • 1-Bedroom Median: $2,190; Year over Year Increase: 15.3 Percent
   • 2-Bedroom Median: $3000; Year over Year Increase: 12.8 Percent
8. San Diego, California
   • 1-Bedroom Median: $2,170; Year over Year Increase: 19.2 Percent
   • 2-Bedroom Median: $2,760; Year over Year Increase: 15.0 Percent
9. Oakland, California
   • 1-Bedroom Median: $2,100; Year over Year Increase: 5.0 Percent
   • 2-Bedroom Median: $2,700; Year over Year Increase: 8.0 Percent
10. Scottsdale, Arizona
    • 1-Bedroom Median: $1,950; Year over Year Increase: 28.3 Percent
    • 2-Bedroom Median: $2,530; Year over Year Increase: 22.2 Percent

Brett Allen, a residential agent in New York City, told the New York Post that the rent increases in the city “should be illegal.” 

“It’s horrible. I’m seeing a lot of people being turned out of their homes, people who paid rent on time with perfect credit scores,” he added. 

One of Allen’s clients, Anne Kennedy, 26, was planning to renew her lease on her studio apartment in the West Village when she says she received a notice about 90 days before her lease was up stating rent would increase from $2,696 to $3,950 – a whopping 46.5 percent jump, the Post reports.

A 2019 New York City law required the landlord to notify Kennedy of the price hike at least ninety days before the lease renewal, according to the Post. 

“It’s actually comical,” Kennedy said. “It’s definitely heartbreaking because I won’t be able to live with one of my best friends in the building anymore.”

“It couldn’t happen to a better person who would’ve negotiated in good faith and moved forward in a reasonable way,” Allen told the Post. “This is akin to an eviction notice. No person can afford an increase like that.”