{"id":110457,"date":"2020-12-15T22:50:33","date_gmt":"2020-12-16T06:50:33","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=110457"},"modified":"2023-03-09T23:50:50","modified_gmt":"2023-03-10T07:50:50","slug":"year-end-report-2020","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/","title":{"rendered":"Year-End Report 2020: Rental Season Delayed and Cut Short, Gen Z Renters Overtake Gen X, and Big City Rents Drop"},"content":{"rendered":"<h2><em><span style=\"font-weight: 400;\">Highlights:<\/span><\/em><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Renting activity was 10% slower in 2020, with a shorter rental season that started with a two-month delay\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Gen Z overtook Gen X and is the only renter generation that became more active this year<\/span><\/em><\/li>\n<li><em>18 of the 30 largest U.S. cities saw more renters leaving compared to last year<\/em><\/li>\n<li style=\"font-weight: 400;\"><em>Apartment rents decreased in all top 10 most expensive cities for renters in 2020<\/em><\/li>\n<\/ul>\n<p>This tumultuous year has changed renting in more than one way. Despite a slowdown in renting activity and an unusually short peak rental season, the past year has revealed just how adaptable apartment leasing can be. Virtual and self-guided tours are now commonplace when it comes to apartment viewing, and renters have unprecedented access to zero-face-to-face-interaction technology, from searching for apartments to signing a lease and managing their rental.<\/p>\n<p>We are also witnessing important changes in the fabric of the rental market. <a href=\"https:\/\/www.rentcafe.com\/blog\/gen-z-statistics\/\">A new cohort of renters, Generation Z<\/a>, is now the second most active group of renters, overtaking Gen X-ers, while the front-runner generation of Millennial renters is shrinking. In terms of moving, there was an increase in renters who decided to move out of some large cities in 2020, including <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/detroit-mi\/\" target=\"_blank\" rel=\"noopener\">Detroit<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/new-york-city-ny\/\">New York<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/seattle-wa\/\">Seattle<\/a>. And finally, 2020 was the year when rent prices fell in all of the nation\u2019s ten most expensive large cities for renters, with <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-francisco-ca\/\">San Francisco<\/a>, New York, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/boston-ma\/\">Boston<\/a> and Seattle in the lead.<\/p>\n<p>To get a comprehensive overview of the new renting trends of 2020, we extracted in-depth market and demographic insights by analyzing 5.8 million renter applications nationwide from RentGrow and rent data from Yardi Matrix.<\/p>\n<h2><span style=\"font-weight: 400;\">The Outbreak of COVID-19 Delayed Peak Rental Season by Two Months<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Typically, the busiest renting season &#8212; when renters are most active and moving to new apartments &#8212; begins in March and lasts until August. However, the 2020 rental season started with a two-month delay, kicking off in May with a 27% monthly increase in renter activity. Simultaneously, the moving season was cut short, lasting for only two months, as renter movement dropped by 13% as soon as July.\u00a0<\/span><\/p>\n<div class=\"infogram-embed\" data-id=\"c97863f0-dd38-4daf-a2d8-71a1d35682da\" data-type=\"interactive\" data-title=\"Year-end-2020-slide\"><\/div>\n<p><script>!function(e,i,n,s){var t=\"InfogramEmbeds\",d=e.getElementsByTagName(\"script\")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(\"script\");o.async=1,o.id=n,o.src=\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\",d.parentNode.insertBefore(o,d)}}(document,0,\"infogram-async\");<\/script><\/p>\n<p>By comparison, in the previous two years, renting activity accelerated in March (by 23%) and slowed down five months later, in August, by an average of 9%. <span style=\"font-weight: 400;\">These trends show that not only was moving season delayed and shortened in 2020, but that renter movement was concentrated over the months of May and June, with a sharp initial rise in renters on the move and a sudden drop at the end of that period.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The pandemic had another overall effect on this year\u2019s renting activity &#8211; more people decided to stay in their current apartments. 10% fewer renters applied for new apartments this year, breaking a years-long trend of single-digit increases. This is in line with the findings of a <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/survey-moving-plans-back-in-full-swing-as-renter-preferences-shift-to-virtual-tours\/\">renter survey conducted on rentcafe.com in April of this year<\/a>, when 11% of renters said they are staying put when asked about their plans to move during the pandemic.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Gen Z Overtook Gen X and is the Only Renter Generation to Become More Active This Year<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Gen Z renter activity surpassed Gen X in 2020, making it the second most active renter generation after Millennials. 23% of this year\u2019s renter movement is owed to Generation Z, up from 12% two years ago, while Gen X now makes up 18% of moving renters, down from 20% in 2018.\u00a0<\/span><\/p>\n<div class=\"infogram-embed\" data-id=\"9261cad0-e809-4585-9cf8-ddbf0f655605\" data-type=\"interactive\" data-title=\"Year-end-2020-generations\"><\/div>\n<p><script>!function(e,i,n,s){var t=\"InfogramEmbeds\",d=e.getElementsByTagName(\"script\")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(\"script\");o.async=1,o.id=n,o.src=\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\",d.parentNode.insertBefore(o,d)}}(document,0,\"infogram-async\");<\/script><\/p>\n<p><span style=\"font-weight: 400;\">The Gen Z renter segment is the only one to see an upward trend in movement in the past three years, as the share of rental applications from all other generations has been shrinking. Millennials, the largest renter generation, now make up 47% of renters on the move, after accounting for more than half of renting activity in the past two years.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Renter Income Stagnated for the First Time in Three Years\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Renters\u2019 median income ground to a halt this year, following a two-year upward trend. In 2018, the median renter income increased by 1.5%, reaching $36,552. The next year, incomes rose even faster, by 5.1%, to $38,400. This year, renters&#8217; salaries stagnated at around $38,400, the same as in 2019.\u00a0<\/span><\/p>\n<div class=\"infogram-embed\" data-id=\"9ea4ab27-9214-4e26-8724-3bd1917b6414\" data-type=\"interactive\" data-title=\"Year-end-report-income\"><\/div>\n<p><script>!function(e,i,n,s){var t=\"InfogramEmbeds\",d=e.getElementsByTagName(\"script\")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(\"script\");o.async=1,o.id=n,o.src=\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\",d.parentNode.insertBefore(o,d)}}(document,0,\"infogram-async\");<\/script><\/p>\n<p><span style=\"font-weight: 400;\">Renters in the middle-income brackets were the only ones who moved more in 2020 than the year before. The share of renters on the move who earn between 25K to 75K rose by 5.9% since last year, while renters in the 50K-75K income bracket were 1.4% more active this year. However, renting activity dropped for all other income brackets, spearheaded by wealthy renters, who moved 7.6% less compared to last year.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Renter Activity Dropped in More Than Half of the Nation\u2019s Largest Cities<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The pandemic hindered moving plans in 16 of the nation\u2019s 30 largest cities, as the number of applications for apartments in these hubs went down compared to the previous years. <\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-110812\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/Renter-Activity-2020_final.png\" alt=\"\" width=\"900\" height=\"892\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/Renter-Activity-2020_final.png 900w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/Renter-Activity-2020_final.png?resize=150,149 150w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/Renter-Activity-2020_final.png?resize=500,496 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/Renter-Activity-2020_final.png?resize=768,761 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/Renter-Activity-2020_final.png?resize=96,96 96w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/memphis-tn\/\">Memphis<\/a> saw the most pronounced downturn, a significant 21% drop in rental applications to and from the city. Meanwhile, 16% fewer renters moved in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chicago-il\/\">Chicago<\/a>, the second fastest decline. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/louisville-ky\/\">Louisville<\/a> comes in third, with a 11% decrease in renters on the move compared to 2019.\u00a0<\/span><\/p>\n<p>Other cities that registered a decrease in rental applications are: Seattle, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/washington-dc\/\">Washington D.C.<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/dallas-tx\/\">Dallas<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-diego-ca\/\">San Diego<\/a>, San Francisco, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/las-vegas-nv\/\">Las Vegas<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/portland-or\/\">Portland<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/austin-tx\/\">Austin<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/indianapolis-in\/\">Indianapolis<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/phoenix-az\/\">Phoenix<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/baltimore-city-md\/\">Baltimore<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/el-paso-tx\/\">El Paso<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-francisco-ca\/\">San Antonio<\/a>.<\/p>\n<p>Simultaneously, these following cities registered a slight increase (up to 10%) in the rental activity: <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/houston-tx\/\">Houston<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/los-angeles-ca\/\">Los Angeles<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/nashville-tn\/\">Nashville<\/a>, Boston, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/jacksonville-fl\/\">Jacksonville<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/oklahoma-city-ok\/\">Oklahoma City<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-jose-ca\/\">San Jose<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/philadelphia-pa\/\">Philadelphia<\/a>. More pronounced increased in the number of rental applications (over 10%) were seen in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/columbus-oh\/\">Columbus<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/denver-co\/\">Denver<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/fort-worth-tx\/\">Fort Worth<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/\">Charlotte<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/new-york-city-ny\/\">New York City<\/a>. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/detroit-mi\/\">Detroit<\/a> was the city with the highest rise in rental activity, a whopping 23%.<\/p>\n<h2><span style=\"font-weight: 400;\">18 of the 30 Largest U.S. Cities Saw More Renters Leave This Year<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">We looked at renter activity from three angles: renters moving out of a particular city, renters moving within a city, and renters moving into a city. There has been much speculation around the topic whether people are leaving dense large cities for more space elsewhere in the context of the pandemic. As far as renters are concerned, this trend confirms for a handful of the nation&#8217;s largest cities. This year, <\/span>18 of the 30 largest U.S. cities saw more renters leaving compared to 2019. <span style=\"font-weight: 400;\">Furthermore, half of the largest cities registered <\/span>more pronounced activity in terms of renters moving out of the city<span style=\"font-weight: 400;\"> rather than renters moving in.\u00a0<\/span><\/p>\n<h2 id=\"tablepress-387-name\" class=\"tablepress-table-name tablepress-table-name-id-387\">Changes in Renting Activity in the Top 30 Largest U.S. Cities<\/h2>\n\n<table id=\"tablepress-387\" class=\"tablepress tablepress-id-387\" aria-labelledby=\"tablepress-387-name\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">City<\/th><th class=\"column-2\">Leaving city<\/th><th class=\"column-3\">Moving within city<\/th><th class=\"column-4\">Moving into city<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Detroit, MI<\/td><td class=\"column-2\">36%<\/td><td class=\"column-3\">-7%<\/td><td class=\"column-4\">-13%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Oklahoma City, OK<\/td><td class=\"column-2\">34%<\/td><td class=\"column-3\">0%<\/td><td class=\"column-4\">-4%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">New York, NY<\/td><td class=\"column-2\">25%<\/td><td class=\"column-3\">5%<\/td><td class=\"column-4\">-7%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Jacksonville, FL<\/td><td class=\"column-2\">20%<\/td><td class=\"column-3\">0%<\/td><td class=\"column-4\">3%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Fort Worth, TX<\/td><td class=\"column-2\">17%<\/td><td class=\"column-3\">8%<\/td><td class=\"column-4\">7%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Seattle, WA<\/td><td class=\"column-2\">15%<\/td><td class=\"column-3\">-14%<\/td><td class=\"column-4\">-24%<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">San Francisco, CA<\/td><td class=\"column-2\">11%<\/td><td class=\"column-3\">-1%<\/td><td class=\"column-4\">-31%<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Memphis, TN<\/td><td class=\"column-2\">10%<\/td><td class=\"column-3\">-28%<\/td><td class=\"column-4\">-11%<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Phoenix, AZ<\/td><td class=\"column-2\">9%<\/td><td class=\"column-3\">-8%<\/td><td class=\"column-4\">-1%<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Baltimore, MD<\/td><td class=\"column-2\">6%<\/td><td class=\"column-3\">-6%<\/td><td class=\"column-4\">-1%<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">Dallas, TX<\/td><td class=\"column-2\">5%<\/td><td class=\"column-3\">-13%<\/td><td class=\"column-4\">-4%<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Las Vegas, NV<\/td><td class=\"column-2\">5%<\/td><td class=\"column-3\">-9%<\/td><td class=\"column-4\">0%<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">Nashville, TN<\/td><td class=\"column-2\">4%<\/td><td class=\"column-3\">4%<\/td><td class=\"column-4\">-1%<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Chicago, IL<\/td><td class=\"column-2\">4%<\/td><td class=\"column-3\">-24%<\/td><td class=\"column-4\">-3%<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">Portland, OR<\/td><td class=\"column-2\">3%<\/td><td class=\"column-3\">-6%<\/td><td class=\"column-4\">-8%<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">Charlotte, NC<\/td><td class=\"column-2\">2%<\/td><td class=\"column-3\">10%<\/td><td class=\"column-4\">22%<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">Philadelphia, PA<\/td><td class=\"column-2\">1%<\/td><td class=\"column-3\">17%<\/td><td class=\"column-4\">4%<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">Denver, CO<\/td><td class=\"column-2\">1%<\/td><td class=\"column-3\">14%<\/td><td class=\"column-4\">16%<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Indianapolis, IN<\/td><td class=\"column-2\">0%<\/td><td class=\"column-3\">-1%<\/td><td class=\"column-4\">-4%<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">Washington, D.C.<\/td><td class=\"column-2\">-2%<\/td><td class=\"column-3\">-13%<\/td><td class=\"column-4\">-7%<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">San Antonio, TX<\/td><td class=\"column-2\">-2%<\/td><td class=\"column-3\">0%<\/td><td class=\"column-4\">0%<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">Los Angeles, CA<\/td><td class=\"column-2\">3%<\/td><td class=\"column-3\">5%<\/td><td class=\"column-4\">-1%<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">Columbus, OH<\/td><td class=\"column-2\">-3%<\/td><td class=\"column-3\">23%<\/td><td class=\"column-4\">13%<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">Houston, TX<\/td><td class=\"column-2\">-3%<\/td><td class=\"column-3\">2%<\/td><td class=\"column-4\">4%<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">San Diego, CA<\/td><td class=\"column-2\">-4%<\/td><td class=\"column-3\">-13%<\/td><td class=\"column-4\">-1%<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">Boston, MA<\/td><td class=\"column-2\">-6%<\/td><td class=\"column-3\">8%<\/td><td class=\"column-4\">13%<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">Louisville, KY<\/td><td class=\"column-2\">-10%<\/td><td class=\"column-3\">-13%<\/td><td class=\"column-4\">-9%<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">Austin, TX<\/td><td class=\"column-2\">-12%<\/td><td class=\"column-3\">5%<\/td><td class=\"column-4\">-6%<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">San Jose, CA<\/td><td class=\"column-2\">-14%<\/td><td class=\"column-3\">55%<\/td><td class=\"column-4\">16%<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">El Paso, TX<\/td><td class=\"column-2\">-17%<\/td><td class=\"column-3\">11%<\/td><td class=\"column-4\">30%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<p><span style=\"font-weight: 400;\">Detroit saw the fastest rise in renter movement out of the city, a 35.7% increase in renters moving out since last year, as well as a 13% drop in renters moving in. Oklahoma City closely follows, as 34.2% more renters left the city in 2020, and 3.5% fewer moved in. Meanwhile, New York ranks third with a 25.1% increase in renters moving out. Other notable large cities where more renters moved out in 2020 than in previous years are Seattle and San Francisco.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Rates Dropped in All of the Top 10 Most Expensive Large Cities for Renters\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The national average rent stagnated this year at $1,465 as of November. Rents decreased or stagnated in 18 of the 30 largest U.S. cities, and increased in 13.\u00a0<\/span><\/p>\n<h2 id=\"tablepress-388-name\" class=\"tablepress-table-name tablepress-table-name-id-388\">Rent Prices in the 30 Largest U.S. Cities<\/h2>\n\n<table id=\"tablepress-388\" class=\"tablepress tablepress-id-388\" aria-labelledby=\"tablepress-388-name\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">City<\/th><th class=\"column-2\">2020 Average Rent<\/th><th class=\"column-3\">2019 Average Rent<\/th><th class=\"column-4\">Change Y-o-Y<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">San Francisco, CA<\/td><td class=\"column-2\"> $3,055 <\/td><td class=\"column-3\"> $3,695 <\/td><td class=\"column-4\">-17.3%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Manhattan, NY<\/td><td class=\"column-2\"> $3,761 <\/td><td class=\"column-3\"> $4,215 <\/td><td class=\"column-4\">-10.8%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Seattle, WA<\/td><td class=\"column-2\"> $1,966 <\/td><td class=\"column-3\"> $2,148 <\/td><td class=\"column-4\">-8.5%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Boston, MA<\/td><td class=\"column-2\"> $3,144 <\/td><td class=\"column-3\"> $3,429 <\/td><td class=\"column-4\">-8.3%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Chicago, IL<\/td><td class=\"column-2\"> $1,794 <\/td><td class=\"column-3\"> $1,955 <\/td><td class=\"column-4\">-8.2%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">San Jose, CA<\/td><td class=\"column-2\"> $2,531 <\/td><td class=\"column-3\"> $2,742 <\/td><td class=\"column-4\">-7.7%<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Washington, D.C.<\/td><td class=\"column-2\"> $2,083 <\/td><td class=\"column-3\"> $2,234 <\/td><td class=\"column-4\">-6.8%<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Los Angeles, CA<\/td><td class=\"column-2\"> $2,359 <\/td><td class=\"column-3\"> $2,503 <\/td><td class=\"column-4\">-5.8%<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Austin, TX<\/td><td class=\"column-2\"> $1,372 <\/td><td class=\"column-3\"> $1,442 <\/td><td class=\"column-4\">-4.9%<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Portland, OR<\/td><td class=\"column-2\"> $1,493 <\/td><td class=\"column-3\"> $1,542 <\/td><td class=\"column-4\">-3.2%<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">Nashville, TN<\/td><td class=\"column-2\"> $1,399 <\/td><td class=\"column-3\"> $1,431 <\/td><td class=\"column-4\">-2.2%<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Denver, CO<\/td><td class=\"column-2\"> $1,636 <\/td><td class=\"column-3\"> $1,672 <\/td><td class=\"column-4\">-2.2%<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">San Diego, CA<\/td><td class=\"column-2\"> $2,201 <\/td><td class=\"column-3\"> $2,237 <\/td><td class=\"column-4\">-1.6%<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Houston, TX<\/td><td class=\"column-2\"> $1,108 <\/td><td class=\"column-3\"> $1,116 <\/td><td class=\"column-4\">-0.7%<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">Philadelphia, PA<\/td><td class=\"column-2\"> $1,643 <\/td><td class=\"column-3\"> $1,653 <\/td><td class=\"column-4\">-0.5%<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">Dallas, TX<\/td><td class=\"column-2\"> $1,247 <\/td><td class=\"column-3\"> $1,243 <\/td><td class=\"column-4\">0.3%<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">San Antonio, TX<\/td><td class=\"column-2\"> $1,058 <\/td><td class=\"column-3\"> $1,050 <\/td><td class=\"column-4\">0.8%<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">Louisville, KY<\/td><td class=\"column-2\">$994<\/td><td class=\"column-3\">$978<\/td><td class=\"column-4\">1.6%<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Charlotte, NC<\/td><td class=\"column-2\"> $1,286 <\/td><td class=\"column-3\"> $1,256 <\/td><td class=\"column-4\">2.4%<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">Oklahoma City, OK<\/td><td class=\"column-2\">$805<\/td><td class=\"column-3\">$784<\/td><td class=\"column-4\">2.7%<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">Columbus, OH<\/td><td class=\"column-2\">$979<\/td><td class=\"column-3\">$952<\/td><td class=\"column-4\">2.8%<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">El Paso, TX<\/td><td class=\"column-2\">$812<\/td><td class=\"column-3\">$789<\/td><td class=\"column-4\">2.9%<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">Baltimore, MD<\/td><td class=\"column-2\"> $1,312 <\/td><td class=\"column-3\"> $1,274 <\/td><td class=\"column-4\">3.0%<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">Detroit, MI<\/td><td class=\"column-2\"> $1,102 <\/td><td class=\"column-3\"> $1,068 <\/td><td class=\"column-4\">3.2%<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">Fort Worth, TX<\/td><td class=\"column-2\"> $1,171 <\/td><td class=\"column-3\"> $1,132 <\/td><td class=\"column-4\">3.4%<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">Las Vegas, NV<\/td><td class=\"column-2\"> $1,150 <\/td><td class=\"column-3\"> $1,110 <\/td><td class=\"column-4\">3.6%<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">Indianapolis, IN<\/td><td class=\"column-2\">$933<\/td><td class=\"column-3\">$894<\/td><td class=\"column-4\">4.4%<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">Jacksonville, FL<\/td><td class=\"column-2\"> $1,162 <\/td><td class=\"column-3\"> $1,111 <\/td><td class=\"column-4\">4.6%<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">Memphis, TN<\/td><td class=\"column-2\">$863<\/td><td class=\"column-3\">$819<\/td><td class=\"column-4\">5.4%<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">Phoenix, AZ<\/td><td class=\"column-2\">$1182<\/td><td class=\"column-3\">$1120<\/td><td class=\"column-4\">5.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<p>The sharpest drops took place in the nation\u2019s most expensive cities for renters. San Francisco\u2019s average rent saw the fastest yearly decrease, plummeting to $3,055 after a 17.3% yearly drop. As remote work became more prevalent, apartments close to the hottest areas for <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ca\/san-francisco\/\" target=\"_blank\" rel=\"noopener\">San Francisco office space<\/a> saw drops in demand. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/manhattan-ny\/\">Manhattan, New York<\/a> ($3,761) witnessed a similar trend, coming in second with a 10.8% rent decrease, which pushed its average rate below the $4,000 mark for the first time in years. Seattle saw prices drop the third fastest, by 8.5%, while Boston dethroned San Francisco as the nation\u2019s second most expensive city for renters despite a 8.3% yearly drop in prices.<\/p>\n<p>Phoenix\u2019s average rent ($1,182) is still going strong, registering the most significant yearly surge among the nation\u2019s 30 largest cities, 5.5%. At the same time, Memphis saw a 5.4% surge which pushed its average rent up to $863.<\/p>\n<p>The most affordable cities in terms of rent in 2020, with an average monthly rent below the $1,000 mark, are: Oklahoma City, OK, El Paso, TX, Memphis, TN, Indianapolis, IN, Columbus, OH and Louisville, KY.<\/p>\n<h2><span style=\"font-weight: 400;\">Methodology<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">Rent prices were sourced from Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. The data on average rents comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey.<\/span><\/i><\/li>\n<li><em>Rental application data was sourced from RentGrow, Inc. and was received completely anonymized and aggregated. No personally identifiable or other confidential renter information was disclosed or used in conjunction with this article.\u00a0<\/em><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">The top 30 largest U.S. cities are ranked by population, according to the U.S. Census Bureau\u2019s 2019 ACS 1-year estimate.\u00a0<\/span><\/i><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">Analysis is based on data from 5.8 million rental applications from RentGrow, Inc. for approximately 37,000 apartment communities. We included only properties which had available data for all years pertinent to the analysis.<\/span><\/i><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">Gen Z are defined as the generation born between 1997 and 2012, Millennials are defined as the generation born between 1981 and 1996, Gen X as those born between 1965 and 1980 and Baby Boomers as those born between 1946 and 1964.<\/span><\/i><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Highlights: Renting activity was 10% slower in 2020, with a shorter rental season that started with a two-month delay\u00a0 Gen Z overtook Gen X and is the only renter generation that became more active this year 18 of the 30 largest U.S. cities saw more renters leaving compared to last year Apartment rents decreased in&hellip;<\/p>\n","protected":false},"author":163,"featured_media":112706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3661,3660],"tags":[],"class_list":["post-110457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-snapshots","category-real-estate-news","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Year-End Report 2020: Rental Season Delayed and Cut Short, Gen Z Renters Overtake Gen X, and Big City Rents Drop - RentCafe rental blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Year-End Report 2020: Rental Season Delayed and Cut Short, Gen Z Renters Overtake Gen X, and Big City Rents Drop\" \/>\n<meta property=\"og:description\" content=\"Highlights: Renting activity was 10% slower in 2020, with a shorter rental season that started with a two-month delay\u00a0 Gen Z overtook Gen X and is the only renter generation that became more active this year 18 of the 30 largest U.S. cities saw more renters leaving compared to last year Apartment rents decreased in&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-16T06:50:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-10T07:50:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/YE-Report.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"890\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Irina Lupa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Irina Lupa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/\",\"name\":\"Year-End Report 2020: Rental Season Delayed and Cut Short, Gen Z Renters Overtake Gen X, and Big City Rents Drop - RentCafe rental blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/YE-Report.jpg\",\"datePublished\":\"2020-12-16T06:50:33+00:00\",\"dateModified\":\"2023-03-10T07:50:50+00:00\",\"author\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/53c137935eb9a0b8b28b481df604316c\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/#primaryimage\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/YE-Report.jpg\",\"contentUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/YE-Report.jpg\",\"width\":890,\"height\":400},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rentcafe.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Year-End Report 2020: Rental Season Delayed and Cut Short, Gen Z Renters Overtake Gen X, and Big City Rents Drop\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/\",\"name\":\"RentCafe rental blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rentcafe.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/53c137935eb9a0b8b28b481df604316c\",\"name\":\"Irina Lupa\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/12\/Default_profile_pic.png?w=96\",\"contentUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/12\/Default_profile_pic.png?w=96\",\"caption\":\"Irina Lupa\"},\"description\":\"Irina Lupa is a creative writer for several Yardi publications, where they cover real estate market trends and industry news. Their work has been cited in Forbes, Globe St. and CNBC, among others. Irina has an academic background in journalism and media theory. You can connect with Irina via email.\",\"sameAs\":[\"irina.lupa@yardi.com\"],\"url\":\"https:\/\/www.rentcafe.com\/blog\/author\/irina-lupa\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Year-End Report 2020: Rental Season Delayed and Cut Short, Gen Z Renters Overtake Gen X, and Big City Rents Drop - RentCafe rental blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/","og_locale":"en_US","og_type":"article","og_title":"Year-End Report 2020: Rental Season Delayed and Cut Short, Gen Z Renters Overtake Gen X, and Big City Rents Drop","og_description":"Highlights: Renting activity was 10% slower in 2020, with a shorter rental season that started with a two-month delay\u00a0 Gen Z overtook Gen X and is the only renter generation that became more active this year 18 of the 30 largest U.S. cities saw more renters leaving compared to last year Apartment rents decreased in&hellip;","og_url":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/","og_site_name":"RentCafe rental blog","article_published_time":"2020-12-16T06:50:33+00:00","article_modified_time":"2023-03-10T07:50:50+00:00","og_image":[{"width":890,"height":400,"url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/YE-Report.jpg","type":"image\/jpeg"}],"author":"Irina Lupa","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Irina Lupa","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/","url":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/","name":"Year-End Report 2020: Rental Season Delayed and Cut Short, Gen Z Renters Overtake Gen X, and Big City Rents Drop - RentCafe rental blog","isPartOf":{"@id":"https:\/\/www.rentcafe.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/#primaryimage"},"image":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/YE-Report.jpg","datePublished":"2020-12-16T06:50:33+00:00","dateModified":"2023-03-10T07:50:50+00:00","author":{"@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/53c137935eb9a0b8b28b481df604316c"},"breadcrumb":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/#primaryimage","url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/YE-Report.jpg","contentUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/YE-Report.jpg","width":890,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/year-end-report-2020\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rentcafe.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Year-End Report 2020: Rental Season Delayed and Cut Short, Gen Z Renters Overtake Gen X, and Big City Rents Drop"}]},{"@type":"WebSite","@id":"https:\/\/www.rentcafe.com\/blog\/#website","url":"https:\/\/www.rentcafe.com\/blog\/","name":"RentCafe rental blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rentcafe.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/53c137935eb9a0b8b28b481df604316c","name":"Irina Lupa","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/12\/Default_profile_pic.png?w=96","contentUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/12\/Default_profile_pic.png?w=96","caption":"Irina Lupa"},"description":"Irina Lupa is a creative writer for several Yardi publications, where they cover real estate market trends and industry news. Their work has been cited in Forbes, Globe St. and CNBC, among others. Irina has an academic background in journalism and media theory. You can connect with Irina via email.","sameAs":["irina.lupa@yardi.com"],"url":"https:\/\/www.rentcafe.com\/blog\/author\/irina-lupa\/"}]}},"jetpack_featured_media_url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/12\/YE-Report.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/110457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/users\/163"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/comments?post=110457"}],"version-history":[{"count":11,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/110457\/revisions"}],"predecessor-version":[{"id":125431,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/110457\/revisions\/125431"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/media\/112706"}],"wp:attachment":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/media?parent=110457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/categories?post=110457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/tags?post=110457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}