National Rent Average Down Very Slightly – NMP
Industry News

National Rent Average Down Very Slightly

Feb 02, 2018
The Mortgage Bankers Association (MBA) is taking aim at a bill before the California legislature that would force a rent cap on property owners

The national trend of rent increases hit a tiny roadblock in the latest data report from ADOBO, which found February’s rent average down by a scant 0.2 percent, the first decline in rents since last August. The national median rent for one-bedrooms dropped from $1,046 in January to $1,044 this month.
 
Despite the miniscule national decline, some markets saw more significant rent decreases. Syracuse, N.Y., had the largest rent drop in the country, with rents falling nearly 11 percent, while Santa Ana, Calif., saw a 9.1 percent slide. The one-bedroom rent increases throughout January were on the smallish side, with St. Paul, Minn., up 8.9 percent while St. Petersburg, Fla., and Houston, followed at around six percent.
 
Once again, San Francisco and New York City were the two most expensive cities for renters, with the Bay Area metro recording $3,293 for the median rent on a one-bedroom unit and the Big Apple following at $2,788.
 
About the author
Phil Hall
Link copied
Published
Feb 02, 2018
Get the NMP Daily
Courts
UWM Seeks More Than $500M From Two Harbors After Failed Deal

Lender alleges Two Harbors undermined their merger and steered the company toward CrossCountry, turning a costly acquisition failure into a federal court fight

The fight over Two Harbors Investment Corp. did not end when shareholders approved its sale to CrossCountry Mortgage.Now United Wholesale Mortgage wants damages.UWM Holdings Corp. and UWM Acquisitions 1 LLC sued Two Harbors in federal court Monday, seeking more than $500 mil...

Continue reading
Wholesale
UWM Offers LOs 90-Bps Incentive On One Agency Loan

Bullseye 90 can be applied to a conventional or government purchase or refinance loan through Sept. 8

United Wholesale Mortgage is giving each loan originator a one-time, 90-basis-point pricing incentive to use on a qualifying agency loan.The wholesaler’s new Bullseye 90 program applies to new locks from Aug. 5 through Sept. 8 on conventional, FHA, VA, and USDA purchase and ...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News
Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News
Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Industry News
Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Industry News
Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Industry News
Jul 02, 2026
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Industry News
Jul 02, 2026