Rents are plunging in the most expensive markets

Business Insider

Demand is drying up in the priciest markets. On the surface, rents, when averaged out across the US, still rose in October, though way slower than during the landlord’s golden days, with one-bedroom median asking rent up 1.5% year-over-year and two-bedroom rent up 2.5%, according to Zumper’s Rent Report. But beneath the surface, a sea change is underway. Zumper: Among the top ten rental markets, we saw declines in both of the most expensive markets, San Francisco and New York. Read Full Story