Data shows that New York City is the top rent rising city in the country

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The tempo of rent progress shows indicators of getting again to regular nationwide. 

Zumper ranked the 100 most rent rising cities in the US and New York City took the first place in this listing. In line with their knowledge, the median value for a one-bedroom condo in New York stands at $3,180 and a two-bedroom at $3,480. 

In line with Zumper’s Nationwide Rent index new knowledge launch the rent progress in 2021 has been dramatic. All through the 11 month interval the median one bed room rent is as much as 12.1%. In the meantime, two-bedrooms are up at 13.2 %. 

Mixed 2019 and 2020 are exhibiting much less rent rise than it is this yr. From June to September, the rise in rent ranged between 1.6% 2.2%. However it did decelerate a bit from November at the tempo of 0.5% for one-bedrooms and 0.4% for two-bedroom. 

Typically rent tendencies rise seasonally, the place rent is often larger throughout summer time and spring and drops throughout fall and winter time. All through the pandemic, seasonal sample has been damaged however  Zumper’s November knowledge probably indicated that the seasonal sample is returning, and rent progress will proceed to decelerate consequently.

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