NEW YORK (PIX11) – The average cost of a one-bedroom apartment in New York City is now $4,100, a new study by Zumper found.
This is up from last year's previous record of $4,000.
The national median cost for a one-bedroom has only gone up by just a fraction of a percentage point compared to this time last year, according to Zumper.
“Rents are now almost flat year-over-year, something that would’ve been unimaginable even a year ago,” Zumper CEO Anthemos Georgiades said. “That’s partially thanks to new supply coming online in many markets, and it’s welcome news for cost-burdened renters.”
Although that may be the case for many cities, one-bedroom apartments in New York City are up almost 2% from this time last year, according to Zumper’s data.
Trailing New York City in the most expensive rental market is Jersey City, with an average cost of $3,200 for a one-bedroom.
Rent in the metropolis of San Francisco was third on the list.
The average cost of a two-bedroom in New York City is just shy of $5,000, according to data from Zumper.
Zumper is an online privately owned rental platform in North America that has more than 125 million site visits a year. Their data analyzed rental prices from over one million active listings in over 100 cities nationwide to find that rent has plateaued in many major US cities.