Data

Top 10 Cities Where Rents Are Declining

  1. San Francisco, California: San Francisco has seen a significant drop in rent prices over the past year due to a combination of factors, including the pandemic and remote work becoming more common. According to Zumper, the median rent for a one-bedroom apartment in San Francisco has decreased by 22.7% year-over-year as of March 2021.

  2. New York City, New York: Similar to San Francisco, New York City has seen a decline in rent prices due to the pandemic and remote work. According to a report by StreetEasy, the median rent for a one-bedroom apartment in Manhattan has dropped by 14.1% year-over-year as of March 2021.

  3. Boston, Massachusetts: Boston has also experienced a decline in rent prices due to the pandemic and remote work. According to Zumper, the median rent for a one-bedroom apartment in Boston has decreased by 12.2% year-over-year as of March 2021.

  4. Austin, Texas: Austin's rental market has been affected by the pandemic as well as an increase in supply due to new construction. According to Apartment List, the median rent for a one-bedroom apartment in Austin has decreased by 4.4% year-over-year as of March 2021.

  5. Seattle, Washington: Seattle has seen a decline in rent prices due to the pandemic and an increase in supply due to new construction. According to Zumper, the median rent for a one-bedroom apartment in Seattle has decreased by 7.4% year-over-year as of March 2021.

  6. Washington D.C.: Washington D.C.'s rental market has been affected by the pandemic and a decrease in demand from government workers. According to Zumper, the median rent for a one-bedroom apartment in Washington D.C. has decreased by 7.9% year-over-year as of March 2021.

  7. Chicago, Illinois: Chicago's rental market has been affected by the pandemic and a decrease in demand from downtown office workers. According to Zumper, the median rent for a one-bedroom apartment in Chicago has decreased by 12.3% year-over-year as of March 2021.

  8. Los Angeles, California: Los Angeles has seen a decline in rent prices due to the pandemic and remote work becoming more common. According to Zumper, the median rent for a one-bedroom apartment in Los Angeles has decreased by 12.4% year-over-year as of March 2021.

  9. Portland, Oregon: Portland's rental market has been affected by the pandemic and an increase in supply due to new construction. According to Zumper, the median rent for a one-bedroom apartment in Portland has decreased by 7.3% year-over-year as of March 2021.

  10. San Diego, California: San Diego has seen a decline in rent prices due to the pandemic and remote work becoming more common. According to Zumper, the median rent for a one-bedroom apartment in San Diego has decreased by 5.5% year-over-year as of March 2021.

It's important to note that the trends mentioned above may not continue in the future and may vary depending on various factors such as the economy and job market.

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