ApartmentAdvisor National Rent Report

June 2024

The ApartmentAdvisor National Rent Report is published monthly and includes national rent trend data as well as rent price data by state and by city.

Overview

This month’s report focuses on three key findings:

There are only 12 cities where rent is up MoM and YoY. Half are in the Midwest.
Rent is down MoM and YoY in the Southwest region, with Texas seeing the biggest decreases over time.
Iowa saw the biggest rent increase MoM on the state level.

Need help setting rent prices for your property? Try our free rental pricing tool here.

U.S. National Rent Trends

The median national rent for a 1-bedroom rental apartment in the U.S. was $1,544 in June 2024, 0.99% higher than the median national rent for May.

	Studio	1 Bed	2 Bed	3 Bed
Median Rent	$1,600	$1,544	$1,700	$2,083
1 Month Change	0%	+1%	+0.3%	+4%
3 Month Change	+3.3%	+3.8%	+1.3%	+5.7%
1 Year Change	+1.6%	-2.2%	-2.1%	+3%

Median Rents

Studio$1,600 (0%)

1 Bedroom$1,544 (+1%)

2 Bedrooms$1,700 (+0.3%)

3 Bedrooms$2,083 (+4%)

Rent Prices Over Time in the U.S.

Key Findings

Once again, the Midwest bears the brunt of the country’s biggest rent increases.

For most of the country, the rent price of a one-bedroom apartment is either down or flat when compared with May 2024. While these decreases are not huge (the average rent decrease in the 45 cities that are seeing lower rent in June is only 2.43%), it’s a welcome change during summer, which is the country’s peak renting season. Another encouraging sign for renters: Of these 45 cities, only 13 have higher rent prices in 2024 than they did this time last year.

Unfortunately, it’s not such a rosy rent story in the Midwest, according to our rent data. While some Midwestern cities saw a monthly rent decline in June (Cleveland, OH; Akron, OH; Chicago, IL; and Ann Arbor, MI actually have the largest rent decreases of any city this month, all down more than 5%), asking rents for one-bedrooms are still more expensive this year than in previous years for nearly all cities. Half of the cities on our list that saw both month-over-month and year-over-year rent growth in June are located in the Midwest, with Cedar Rapids (+8% MoM, +24% YoY) and Des Moines, IA (+5% MoM, +20% YoY) seeing the biggest hikes. This doesn’t come as a surprise this month, as rent in the Midwest has been trending upward for the last years.

There’s a reason Midwestern cities often top our annual Best Cities for College Grads list: They’re historically affordable and they offer ample career opportunities due to the significant number of companies with corporate headquarters in the area, allowing renters to get more bang for their buck. It’s clear that the Midwest has been gaining popularity, but the region could be heading towards a housing crisis if construction does not meet up with demand.

Everything is bigger in Texas — including the rent drops.

The Southwest is seeing rent decreases across the board. Of the 12 Southwestern rental markets that we track, only two saw MoM increases (Houston and El Paso, TX) and only one had a YoY increase (Tucson, AZ) for one-bedroom apartments. However, these increases are marginal; they’re all below 1%. Meanwhile, Austin, Dallas, and San Antonio, TX are all had asking rent prices that were over 10% lower than they were in June of last year. This is in line with the decreasing rent we’ve seen across Texas in the last several years.

The majority of Texas cities that we track saw rent peak during the pandemic around July ’22 (with the exception of Corpus Christi, where it peaked in Oct. ’23). Since then, prices have been rapidly decreasing, even in boomtowns like Austin.

Average Rent by City

Top 10 Most Expensive Cities to Rent an Apartment

1. New York, NY$3,600 (-0.5%)

2. San Francisco, CA$2,975 (+2.6%)

3. Boston, MA$2,750 (0%)

4. Jersey City, NJ$2,500 (-2.7%)

5. San Jose, CA$2,354 (+7.1%)

6. Washington, DC$2,300 (+0.2%)

7. San Diego, CA$2,280 (-0.7%)

8. Los Angeles, CA$2,150 (+0.9%)

9. Miami, FL$2,073 (-1.4%)

10. Charleston, SC$2,055 (-5%)

Rank #	City	Median Rent	1 Month Change	Rank Change
1	New York, NY	$3,600	-0.5%	-
2	San Francisco, CA	$2,975	+2.6%	-
3	Boston, MA	$2,750	0%	-
4	Jersey City, NJ	$2,500	-2.7%	-
5	San Jose, CA	$2,354	+7.1%	↑2
6	Washington, DC	$2,300	+0.2%	↓1
7	San Diego, CA	$2,280	-0.7%	↓1
8	Los Angeles, CA	$2,150	+0.9%	↑1
9	Miami, FL	$2,073	-1.4%	↑1
10	Charleston, SC	$2,055	-5%	↓2

Top 10 Least Expensive Cities to Rent an Apartment

1. Toledo, OH$681 (+0.8%)

2. Wichita, KS$701 (-3.3%)

3. Akron, OH$750 (-5.7%)

4. Lincoln, NE$768 (-3.3%)

5. Baton Rouge, LA$801 (+0.1%)

6. El Paso, TX$818 (+0.7%)

7. Cedar Rapids, IA$837 (+8%)

8. Huntsville, AL$846 (-2.6%)

9. Louisville, KY$850 (-2.9%)

10. Fayetteville, NC$857 (-2%)

Rank #	City	Median Rent	1 Month Change	Rank Change
1	Toledo, OH	$681	+0.8%	-
2	Wichita, KS	$701	-3.3%	-
3	Akron, OH	$750	-5.7%	↑2
4	Lincoln, NE	$768	-3.3%	-
5	Baton Rouge, LA	$801	+0.1%	↑1
6	El Paso, TX	$818	+0.7%	↑1
7	Cedar Rapids, IA	$837	+8%	↓4
8	Huntsville, AL	$846	-2.6%	↑1
9	Louisville, KY	$850	-2.9%	↑3
10	Fayetteville, NC	$857	-2%	↑4

Rent Prices in 100 Major Cities

This table shows median rent data for 100 major cities in the US.

New York, NY$3,600 (-0.5%)

Los Angeles, CA$2,150 (+0.9%)

Chicago, IL$1,895 (-5.3%)

Houston, TX$1,279 (+0.6%)

Phoenix, AZ$1,295 (-0.9%)

Philadelphia, PA$1,450 (+1.8%)

San Antonio, TX$1,050 (-4.1%)

San Diego, CA$2,280 (-0.7%)

Dallas, TX$1,272 (-1.4%)

San Jose, CA$2,354 (+7.1%)

Austin, TX$1,323 (-2%)

Jacksonville, FL$1,159 (-2.6%)

Fort Worth, TX$1,332 (-2.3%)

Columbus, OH$1,245 (+2.5%)

Charlotte, NC$1,486 (+4%)

San Francisco, CA$2,975 (+2.6%)

Indianapolis, IN$964 (-1.1%)

Seattle, WA$1,850 (+0.7%)

Denver, CO$1,646 (-0.3%)

Washington, DC$2,300 (+0.2%)

Boston, MA$2,750 (0%)

El Paso, TX$818 (+0.7%)

Nashville, TN$1,450 (+2.8%)

Detroit, MI$1,000 (+1.3%)

Oklahoma City, OK$861 (-1.1%)

Portland, OR$1,435 (-0.2%)

Las Vegas, NV$1,200 (0%)

Memphis, TN$902 (-4%)

Louisville, KY$850 (-2.9%)

Baltimore, MD$1,299 (+3.7%)

Milwaukee, WI$1,016 (+2.4%)

Albuquerque, NM$900 (-1.8%)

Tucson, AZ$906 (-0.9%)

Fresno, CA$1,320 (+2.2%)

Sacramento, CA$1,495 (+3.1%)

Atlanta, GA$1,599 (+0.8%)

Kansas City, MO$1,095 (0%)

Colorado Springs, CO$1,050 (-4.1%)

Omaha, NE$941 (+1.7%)

Raleigh, NC$1,278 (+1.6%)

Miami, FL$2,073 (-1.4%)

Virginia Beach, VA$1,560 (+3.3%)

Oakland, CA$1,950 (+1.1%)

Minneapolis, MN$1,108 (-1.3%)

Tulsa, OK$868 (-3.4%)

Tampa, FL$1,500 (-3.8%)

New Orleans, LA$1,298 (+2%)

Wichita, KS$701 (-3.3%)

Cleveland, OH$945 (-6.8%)

Honolulu, HI$1,950 (-3.6%)

Riverside, CA$1,750 (0%)

Corpus Christi, TX$914 (-5%)

Lexington, KY$875 (+0%)

St. Paul, MN$1,050 (0%)

Cincinnati, OH$995 (0%)

St. Louis, MO$972 (-0.2%)

Pittsburgh, PA$1,160 (-2.9%)

Greensboro, NC$999 (0%)

Lincoln, NE$768 (-3.3%)

Anchorage, AK-

Orlando, FL$1,417 (-0.3%)

Newark, NJ-

Toledo, OH$681 (+0.8%)

Fort Wayne, IN$888 (+1.9%)

St. Petersburg, FL$1,595 (+6.7%)

Jersey City, NJ$2,500 (-2.7%)

Madison, WI$1,532 (-0.2%)

Reno, NV$1,200 (0%)

Buffalo, NY$1,100 (0%)

Richmond, VA$1,295 (-1%)

Boise, ID$1,249 (+0.2%)

Spokane, WA$1,074 (-1.9%)

Baton Rouge, LA$801 (+0.1%)

Des Moines, IA$1,030 (+5.3%)

Fayetteville, NC$857 (-2%)

Birmingham, AL$940 (-1.8%)

Rochester, NY$1,033 (+0.9%)

Grand Rapids, MI$1,257 (-1.4%)

Huntsville, AL$846 (-2.6%)

Salt Lake City, UT$1,250 (-1.8%)

Augusta, GA$920 (-2.9%)

Akron, OH$750 (-5.7%)

Little Rock, AR$965 (+13.5%)

Tallahassee, FL$975 (-1.1%)

Sioux Falls, SD$895 (+0.8%)

Providence, RI$1,778 (+3.3%)

Jackson, MS-

Savannah, GA$1,609 (+5.5%)

Charleston, SC$2,055 (-5%)

Cedar Rapids, IA$837 (+8%)

Fargo, ND$940 (-2.6%)

Hartford, CT$1,250 (0%)

Ann Arbor, MI$1,807 (-5.2%)

Manchester, NH-

Billings, MT-

Wilmington, DE-

Portland, ME-

Cheyenne, WY-

Burlington, VT-

Morgantown, WV-

City	Population	Median Rent	1 Month Change	1 Year Change
New York, NY	8,336,820	$3,600	-0.5%	+3.7%
Los Angeles, CA	3,979,580	$2,150	+0.9%	-2.7%
Chicago, IL	2,693,980	$1,895	-5.3%	+8.3%
Houston, TX	2,320,270	$1,279	+0.6%	-6.8%
Phoenix, AZ	1,680,990	$1,295	-0.9%	-7.7%
Philadelphia, PA	1,584,060	$1,450	+1.8%	+4%
San Antonio, TX	1,547,250	$1,050	-4.1%	-10.3%
San Diego, CA	1,423,850	$2,280	-0.7%	-0.9%
Dallas, TX	1,343,570	$1,272	-1.4%	-11.7%
San Jose, CA	1,021,800	$2,354	+7.1%	-5.7%
Austin, TX	978,908	$1,323	-2%	-12.5%
Jacksonville, FL	911,507	$1,159	-2.6%	-5.6%
Fort Worth, TX	909,585	$1,332	-2.3%	-3.7%
Columbus, OH	898,553	$1,245	+2.5%	+3.8%
Charlotte, NC	885,708	$1,486	+4%	-1%
San Francisco, CA	881,549	$2,975	+2.6%	+2.8%
Indianapolis, IN	876,384	$964	-1.1%	-1.1%
Seattle, WA	753,675	$1,850	+0.7%	-5.1%
Denver, CO	727,211	$1,646	-0.3%	-7%
Washington, DC	705,749	$2,300	+0.2%	-6.1%
Boston, MA	692,600	$2,750	0%	+1.9%
El Paso, TX	681,728	$818	+0.7%	-3.8%
Nashville, TN	670,820	$1,450	+2.8%	-14.9%
Detroit, MI	670,031	$1,000	+1.3%	-9.1%
Oklahoma City, OK	655,057	$861	-1.1%	-4.2%
Portland, OR	654,741	$1,435	-0.2%	-4%
Las Vegas, NV	651,319	$1,200	0%	-6.6%
Memphis, TN	651,073	$902	-4%	-7.3%
Louisville, KY	617,638	$850	-2.9%	-2.9%
Baltimore, MD	593,490	$1,299	+3.7%	-0.1%
Milwaukee, WI	590,157	$1,016	+2.4%	+2.8%
Albuquerque, NM	560,513	$900	-1.8%	-9.9%
Tucson, AZ	548,073	$906	-0.9%	+0.4%
Fresno, CA	531,576	$1,320	+2.2%	-2.6%
Sacramento, CA	513,624	$1,495	+3.1%	-4.3%
Atlanta, GA	506,811	$1,599	+0.8%	-11.2%
Kansas City, MO	495,327	$1,095	0%	-4.3%
Colorado Springs, CO	478,221	$1,050	-4.1%	-16%
Omaha, NE	478,192	$941	+1.7%	-4.5%
Raleigh, NC	474,069	$1,278	+1.6%	-10.9%
Miami, FL	467,963	$2,073	-1.4%	-20.3%
Virginia Beach, VA	449,974	$1,560	+3.3%	+2.6%
Oakland, CA	433,031	$1,950	+1.1%	-4.9%
Minneapolis, MN	429,606	$1,108	-1.3%	-1.5%
Tulsa, OK	401,190	$868	-3.4%	-5.5%
Tampa, FL	399,700	$1,500	-3.8%	-11.4%
New Orleans, LA	390,144	$1,298	+2%	-2.3%
Wichita, KS	389,938	$701	-3.3%	+2.4%
Cleveland, OH	381,009	$945	-6.8%	-14.1%
Honolulu, HI	345,064	$1,950	-3.6%	+21.9%
Riverside, CA	331,360	$1,750	0%	+1.4%
Corpus Christi, TX	326,586	$914	-5%	-1%
Lexington, KY	323,152	$875	+0%	+3%
St. Paul, MN	308,096	$1,050	0%	-8.6%
Cincinnati, OH	303,940	$995	0%	+4.7%
St. Louis, MO	300,576	$972	-0.2%	+7.6%
Pittsburgh, PA	300,286	$1,160	-2.9%	-3.3%
Greensboro, NC	296,710	$999	0%	-3.9%
Lincoln, NE	289,102	$768	-3.3%	-2.3%
Anchorage, AK	288,000	-	-	-
Orlando, FL	287,442	$1,417	-0.3%	-10.9%
Newark, NJ	282,011	-	-	-
Toledo, OH	272,779	$681	+0.8%	-6.4%
Fort Wayne, IN	270,402	$888	+1.9%	+11%
St. Petersburg, FL	265,351	$1,595	+6.7%	+0.9%
Jersey City, NJ	262,075	$2,500	-2.7%	-20.8%
Madison, WI	259,680	$1,532	-0.2%	+0.8%
Reno, NV	255,601	$1,200	0%	-5.3%
Buffalo, NY	255,284	$1,100	0%	+0.5%
Richmond, VA	230,436	$1,295	-1%	-7.2%
Boise, ID	228,959	$1,249	+0.2%	-10.4%
Spokane, WA	222,081	$1,074	-1.9%	+2.3%
Baton Rouge, LA	220,236	$801	+0.1%	-17.9%
Des Moines, IA	214,237	$1,030	+5.3%	+19.8%
Fayetteville, NC	211,657	$857	-2%	-7.1%
Birmingham, AL	209,403	$940	-1.8%	-10.5%
Rochester, NY	205,695	$1,033	+0.9%	+5.9%
Grand Rapids, MI	201,013	$1,257	-1.4%	+6.3%
Huntsville, AL	200,574	$846	-2.6%	-21.1%
Salt Lake City, UT	200,567	$1,250	-1.8%	-3.5%
Augusta, GA	197,888	$920	-2.9%	-5.5%
Akron, OH	197,597	$750	-5.7%	+7.1%
Little Rock, AR	197,312	$965	+13.5%	+28.7%
Tallahassee, FL	194,500	$975	-1.1%	-2.5%
Sioux Falls, SD	183,793	$895	+0.8%	+0.2%
Providence, RI	179,883	$1,778	+3.3%	-2.5%
Jackson, MS	160,628	-	-	-
Savannah, GA	144,464	$1,609	+5.5%	-3.6%
Charleston, SC	137,566	$2,055	-5%	+2.1%
Cedar Rapids, IA	133,562	$837	+8%	+24%
Fargo, ND	124,662	$940	-2.6%	+14.5%
Hartford, CT	122,105	$1,250	0%	+8.7%
Ann Arbor, MI	119,980	$1,807	-5.2%	+5.3%
Manchester, NH	112,673	-	-	-
Billings, MT	109,577	-	-	-
Wilmington, DE	70,166	-	-	-
Portland, ME	66,215	-	-	-
Cheyenne, WY	64,235	-	-	-
Burlington, VT	42,819	-	-	-
Morgantown, WV	30,549	-	-	-

To download this data as a CSV, click .

Average Rent by State

Rent is up more than 1% in only 10 states. The biggest jump is in Iowa.

For most states, the rental price of a one-bedroom apartment either remained flat or decreased since last month. Only 10 states had increases of 1% or higher — three of those being in the Midwest. Similar to what we are seeing on the city level, Iowa is bearing the brunt of big rent hikes. The median rent price of a one-bedroom apartment in Iowa at the state level is up 4% MoM and 13% YoY. The second highest increase at the state level was in Kansas, where rent is up 5.4% MoM but flat when compared to last year.

On the other end of the spectrum was Maine, where rent decreased by almost 7% MoM at the state level.

State	Median Rent	1 Month Change	1 Year Change
Delaware	-	-	-
Hawaii	$2,000	-4.6%	+14.3%
Texas	$1,209	-0.5%	-9.9%
Massachusetts	$2,565	-0.5%	+2.6%
Maryland	$1,500	-1.7%	-10%
Iowa	$886	+4.3%	+12.7%
Maine	$1,400	-6.7%	0%
Idaho	$1,154	-1.8%	-3.4%
Michigan	$1,046	+2.4%	+6.4%
Utah	$1,225	-1.7%	-3.4%
Minnesota	$1,150	0%	-2.1%
Missouri	$925	0%	+2.4%
Illinois	$1,733	-3.4%	+8.7%
Indiana	$949	-0.1%	+5.4%
Mississippi	$890	-1.1%	-6.3%
Montana	$1,222	+1.9%	+6.3%
Alaska	$1,228	-5%	-0.7%
Alabama	$926	+0.5%	-5.1%
Virginia	$1,537	+2.5%	-2.7%
Arkansas	$775	-1.4%	+7.6%
North Carolina	$1,265	+1.2%	-4.7%
North Dakota	$900	-2.7%	+12%
Nebraska	$908	+0.3%	-4.9%
Rhode Island	$1,500	+0.2%	-3.2%
Arizona	$1,250	0%	-7.8%
New Hampshire	$1,524	-4.5%	+1.6%
New Jersey	$2,229	-2.1%	+3.7%
Vermont	$1,650	-1.5%	+13.9%
New Mexico	$900	+0.6%	-4.2%
Florida	$1,500	-1.6%	-9.1%
Nevada	$1,236	-1.1%	-4.9%
Washington	$1,629	+0.4%	-5.6%
New York	$3,450	+0.5%	+7.1%
South Carolina	$1,250	0%	-9.5%
South Dakota	$915	+0.7%	+2.2%
Wisconsin	$1,122	-0.1%	+2.6%
Ohio	$925	-1.1%	0%
Georgia	$1,329	-1.4%	-9.9%
Oklahoma	$825	-0.8%	-0.5%
California	$2,090	+0.5%	-1.6%
West Virginia	$700	-1.8%	+7.6%
Wyoming	-	-	-
Oregon	$1,375	+0.3%	-4.8%
Kansas	$795	+5.4%	0%
Colorado	$1,483	+0.5%	-7.3%
Kentucky	$850	0%	0%
Connecticut	$1,889	+3%	+11.1%
Pennsylvania	$1,250	+2%	+4.2%
Louisiana	$909	+1.3%	+1.4%
Tennessee	$1,154	-0.6%	-6.4%
Washington DC	$2,300	+0.2%	-6.1%

Delaware-

Hawaii$2,000 (-4.6%)

Texas$1,209 (-0.5%)

Massachusetts$2,565 (-0.5%)

Maryland$1,500 (-1.7%)

Iowa$886 (+4.3%)

Maine$1,400 (-6.7%)

Idaho$1,154 (-1.8%)

Michigan$1,046 (+2.4%)

Utah$1,225 (-1.7%)

Minnesota$1,150 (0%)

Missouri$925 (0%)

Illinois$1,733 (-3.4%)

Indiana$949 (-0.1%)

Mississippi$890 (-1.1%)

Montana$1,222 (+1.9%)

Alaska$1,228 (-5%)

Alabama$926 (+0.5%)

Virginia$1,537 (+2.5%)

Arkansas$775 (-1.4%)

North Carolina$1,265 (+1.2%)

North Dakota$900 (-2.7%)

Nebraska$908 (+0.3%)

Rhode Island$1,500 (+0.2%)

Arizona$1,250 (0%)

New Hampshire$1,524 (-4.5%)

New Jersey$2,229 (-2.1%)

Vermont$1,650 (-1.5%)

New Mexico$900 (+0.6%)

Florida$1,500 (-1.6%)

Nevada$1,236 (-1.1%)

Washington$1,629 (+0.4%)

New York$3,450 (+0.5%)

South Carolina$1,250 (0%)

South Dakota$915 (+0.7%)

Wisconsin$1,122 (-0.1%)

Ohio$925 (-1.1%)

Georgia$1,329 (-1.4%)

Oklahoma$825 (-0.8%)

California$2,090 (+0.5%)

West Virginia$700 (-1.8%)

Wyoming-

Oregon$1,375 (+0.3%)

Kansas$795 (+5.4%)

Colorado$1,483 (+0.5%)

Kentucky$850 (0%)

Connecticut$1,889 (+3%)

Pennsylvania$1,250 (+2%)

Louisiana$909 (+1.3%)

Tennessee$1,154 (-0.6%)

Washington DC$2,300 (+0.2%)

Report Methodology

For the National Rent Report, ApartmentAdvisor analyzes rental listings available on our platform, sourced from multiple listing syndication partners. The set of 100 large cities highlighted in our report is primarily determined by overall population size, however we include some smaller cities with relatively high populations for the home state (e.g. Burlington, VT and Portland, ME) and we exclude some highly populated cities due to their proximity to other major cities (eg. Garland, Texas is not included due to its proximity to Dallas). We take all the unique apartments that were available for any amount of time during a time period, deduplicate them by unit type, and remove unreliable listings. We use a minimum threshold of units for cities to ensure that data is accurate. Luxury bias is removed by focusing on median figures instead of averages.

Top metro areas

Atlanta Metro Apartments

5,424 apartments starting at $402/month

Austin Metro Apartments

11,344 apartments starting at $474/month

Baltimore Metro Apartments

1,935 apartments starting at $636/month

Boston Metro Apartments

6,741 apartments starting at $900/month

Charlotte Metro Apartments

3,340 apartments starting at $475/month

Chicago Metro Apartments

6,580 apartments starting at $650/month

Dallas Fort Worth Metro Apartments

15,678 apartments starting at $400/month

Houston Metro Apartments

6,086 apartments starting at $500/month

Las Vegas Metro Apartments

3,410 apartments starting at $600/month

Los Angeles Metro Apartments

15,456 apartments starting at $450/month

Miami Metro Apartments

1,414 apartments starting at $999/month

Milwaukee Metro Apartments

1,338 apartments starting at $545/month

New York Metro Apartments

9,865 apartments starting at $590/month

Orlando Metro Apartments

3,109 apartments starting at $650/month

Philadelphia Metro Apartments

2,874 apartments starting at $500/month

Phoenix Metro Apartments

4,855 apartments starting at $695/month

Pittsburgh Metro Apartments

1,355 apartments starting at $549/month

Portland Metro Apartments

4,999 apartments starting at $412/month

Raleigh Metro Apartments

2,655 apartments starting at $600/month

Riverside Metro Apartments

1,475 apartments starting at $550/month

San Antonio Metro Apartments

4,801 apartments starting at $400/month

San Diego Metro Apartments

3,223 apartments starting at $615/month

San Francisco Metro Apartments

3,108 apartments starting at $595/month

San Jose Metro Apartments

1,417 apartments starting at $750/month

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5,813 apartments starting at $595/month

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2,077 apartments starting at $500/month

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4,029 apartments starting at $610/month