Rent prices in major U.S. cities have continued to experience double-declines even as local leaders ease COVID-19 restrictions, new data shows.
Rents among the 8 most expensive U.S. cities dropped 16.3% since the beginning of the pandemic, according to apartment rental site Zumper.
When compared with the same period last year, the average rent for a one-bedroom apartment in San Francisco for the month of May was down more than 21%, while the declines in New York and Boston were 14.2% and 11%, respectively.
Rent for a one-bedroom apartment in San Jose, California, was down nearly 10% year over year, while prices dropped more than 13% in both Seattle and Philadelphia. Los Angeles saw a 9.2% decline.
Despite the declines, San Francisco and New…