U.S. median rent to reach record high of $2,000 by summer

  Back to higher rent again.

Rent in the U.S. reached an all-time median high in April 2022 and is only expected to keep rising to a record average of $2,000 per rental unit by August, according to a recent report from Realtor.com

New data reveals the current national average rent is $1,827 a month, up 16.7% from a year ago. The data also broke down the average rent by the number of bedrooms, determining that the price for a studio apartment is growing the fastest of all rental units. In the U.S., a studio will cost you $1,499 each month — another record high — with the average two-bedroom will cost you around $2,552 per month. more..

Bay Area rental rates among the highest in nation

According to Realtor.com, the Bay Area ranks among the top region with the highest renal rates. The overall median rent comes in at $3,000 per month in the San Francisco-Oakland-Hayward area and an average of $3,165 monthly rent for the San Jose-Sunnyvale-Santa Clara area.Contact me to discuss the latest scoop in real estate!