Nationwide Rent Increases Slow to Lowest Rate in More Than Two Years

Rent pricing trends defy rental market history during peak moving season.

Rent increase notice
(Image credit: Getty Images)

It's been a tough stretch for Americans who rent their homes. The COVID-19 pandemic corresponded with historic monthly price increases across the U.S., driving many to stretch their finances to the breaking point. 

A recent report from rental search engine Zumper has good news for beleaguered renters: Landlords are finally adjusting to a new normal, leading to the lowest monthly rental increases in years. 

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City1 Bedroom Statistics2 Bedroom Statistics
New York, NY$3,980/month; +2.10% month-over-month; +5.30% year-over-year$4,470/month; +5.40% MOM, +7.70% YOY
Jersey City, NJ$3,390/month; +0.60% MOM; +23.30% YOY$4,000/month; +1.00% MOM; +39.40% YOY
San Francisco, CA$3,000/month; +0.00% MOM; -3.20% YOY$4,100/month; -0.70% MOM; -1.70% YOY
Miami, FL$2,800/month; -2.10% MOM; +12.00% YOY$3,900/month; -0.80% MOM; +18.20% YOY
Boston, MA$2,800/month; +1.80% MOM; 7.70% YOY$3,400/month; +0.00% MOM; +13.30% YOY

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Ben Demers
Audience Engagement Manager,

Ben Demers manages digital content and engagement at Kiplinger, informing readers through a range of personal finance articles, e-newsletters, social media, syndicated content, and videos. He is passionate about helping people lead their best lives through sound financial behavior, particularly saving money at home and avoiding scams and identity theft. Ben graduated with an M.P.S. from Georgetown University and a B.A. from Vassar College. He joined Kiplinger in May 2017.