The national median one-bedroom rent price came into May at $1,015, down from $1,026 in April. May is the fourth consecutive month of declining prices for this housing property. The national median price for a two-bedroom unit came in at $1,230, down from $1,247 in April.
For the one-bedroom rental market, the greatest median rent hike was in Dayton, Ohio, rising 7.6 percent from $690 in April to $750 in May. The greatest median rent decline was in Syracuse, N.Y., from $898 in April to $797 in May, an 11.2 percent decline. For the two-bedroom rental market, Houston’s 4.1 percent increase from $1,488 to $1,599 was the biggest median rent hike while New Orleans’ 7.1 percent slip from $1,895 to $1,695 was the largest median rent drop.
And, once again, San Francisco led the nation with the highest median rents for one-bedroom ($3,352) and two-bedroom ($4,857) units. New York City had the highest median rents for one-bedroom units ($2,763) and Berkeley, Calif., was the most expensive for two-bedroom units ($3,354).