The one-bedroom unit has long been the staple of the apartment industry, but two-bedrooms seem to be gaining ground, reports MFE‘s Lauren Shanesy. (Even three-bedrooms are growing in popularity—and necessity.)
While rent prices for one-bedroom units across the nation fell this month, two-bedrooms saw an increase, according to the April 2018 Zumper National Rent Report, signaling a possible demand for larger units. The national one-bedroom rent average dropped 8.9% this month, to $1,184, after a historic high of $1,300 in March. Meanwhile, two-bedrooms grew 1.1%, to $1,414.
One-bedroom units in Washington, D.C., saw the largest drop among the top 10 most-expensive cities, declining 4.1% in rent prices to fall out of the top five ranking, while Seattle’s rent was the fastest-growing among the top MSAs, with a 5% increase.
In some of the top rental markets, one-bedroom rents remained fairly flat in April while two-bedroom rents increased: In San Francisco, one-bedrooms stayed at $3,400 and two-bedrooms increased 2.5%, to $4,510; one-bedrooms in New York remained fixed at $2,900 and two-bedrooms grew 1.7%, to $3,500. In San Jose, Calif., one-bedroom rent increased a slight 0.8%, to $2,470, while two-bedrooms experienced more-robust growth, climbing 3.9%, to $2,940.
