What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Real Estate

Zumper: Rent prices see slight jump in April, bringing renters some relief

Median monthly rent for a 1-bedroom unit grows to $1,215

Good news San Francisco renters! The median rent price for a one-bedroom unit remained at $3,700 for April, according to Zumper’s latest National Rent Report.

Additionally, the price of a two-bedroom apartment declined more than 2%, falling even further from March's 0.6% decline.

Unfortunately, rent prices ticked up in other parts of the U.S., as the price for one- and two-bedroom units increased 0.1% and 1.2%, respectively.

This means it now costs $1,215 and $1,463 a month to rent the average one-bedroom and two-bedroom units, equating to an annual increase of 2.5% and 2.9%, respectively.

Despite these modest increases, Zumper’s data indicates a substantial amount the country experienced rent relief.

“The rest of the country saw some relief as well since it had the smallest number of cities with double digit year over year rent growth in the past 12 months at least,” Zumper writes. “Only a handful of cities saw large year-over-year growth rates, a vast difference from a few months ago. Meanwhile, Bakersfield had the fastest growing one bedroom rent last quarter, up 5.4%, while Louisville took the largest rent dip, down 5.3%.”

The chart below displays the 25 most expensive rent markets and how they moved in April, according to Zumper. 

(Click to enlarge; image courtesy of Zumper)

Zumper National Rent Report April

Most Popular Articles

Do higher mortgage rates mark the end of the refi wave?

As mortgage rates rose over the last week, refi activity fell. But millions of borrowers are still eligible if lenders can get them through the pipeline.

Feb 23, 2021 By

Latest Articles

How lenders can prepare for growing fraud threats

HousingWire recently spoke with Jeffrey Morelli, general manager at Truework, about what lenders can do to prepare for and overcome the growing threat of fraud and data inaccuracy.

Feb 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please