Apartment List National Rent Report


Rent Growth since March 2020 - November 2020

As the most-expensive and most-impacted city in the country, San Francisco leads the pack. With a rent decline of 24.5 percent since March, the median 2-bedroom apartment in San Francisco has dropped from $3,147 to $2,377. Following San Francisco as a cluster of expensive coastal markets that have also been heavily impacted. Seattle and Boston had the nation’s most dramatic November rent drops (5.6 percent and 5.2 percent, respectively), pushing them past New York which had previously occupied the number 2 spot throughout most of the summer. Today, Seattle ranks second with a 19.1 percent rent decline since March, Boston ranks third, New York City falls to fourth, and San Jose rounds out the top five. All of the cities in this list have lost more than 10 percent of their rent prices during the pandemic months.

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