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U.S. Cities With The Biggest Change In Rent Prices

by Author Contribution
U.S. Cities Rent Prices

By Jonathan Jones

Note: This is the most recent release of our U.S. Cities With the Biggest Change in Rent Prices study.

To see data from previous years,
please visit the Full Results section below.

While, in many ways, the U.S. economy looks strong—with low unemployment levels, easing inflation, and a robust stock market—many Americans continue to feel the squeeze of high costs. The inflation rate has come down from its peak in mid-2022, but the effects of several years of record price increases still linger, leaving households struggling to make ends meet.

One of the most pressing financial challenges for many is the cost of housing. According to data from Zillow, median rents are approximately 35% higher today than they were before the pandemic. With high home prices and mortgage interest rates pricing many would-be buyers out of the real estate market, rentals have been highly competitive.

Underlying these trends is a long-term shortage of housing stock in the United States. Many builders were hard-hit by the Great Recession, and as a result, the U.S. dramatically underbuilt its housing stock throughout the 2010s. Renters are feeling the consequences: rental vacancy rates are near their lowest level on record. In short, this means that more renters are competing for fewer available units.

Cities With the Biggest Change in Rent Prices

Top Large Metros Change*
1. Charlotte-Concord-Gastonia, NC-SC +16.8%
2. Riverside-San Bernardino-Ontario, CA +14.7%
3. Virginia Beach-Chesapeake-Norfolk, VA-NC +14.4%
4. Washington-Arlington-Alexandria, DC-VA-MD-WV +13.8%
5. Houston-Pasadena-The Woodlands, TX +13.3%
6. Nashville-Davidson–Murfreesboro–Franklin, TN +12.5%
7. Richmond, VA +12.5%
8. Columbus, OH +11.1%
9. Pittsburgh, PA +11.0%
10. San Jose-Sunnyvale-Santa Clara, CA +10.1%
11. Milwaukee-Waukesha, WI +9.9%
12. Cincinnati, OH-KY-IN +8.8%
13. Cleveland, OH +8.7%
14. Salt Lake City-Murray, UT +8.5%
15. Rochester, NY +8.5%
Bottom Large Metros Change*
1. Indianapolis-Carmel-Greenwood, IN -4.0%
2. Providence-Warwick, RI-MA -3.8%
3. Denver-Aurora-Centennial, CO -3.2%
4. Hartford-East Hartford-Middletown, CT -1.1%
5. Boston-Cambridge-Newton, MA-NH -0.3%
6. Atlanta-Sandy Springs-Roswell, GA +0.7%
7. Buffalo-Cheektowaga, NY +1.1%
8. San Francisco-Oakland-Fremont, CA +1.1%
9. Baltimore-Columbia-Towson, MD +1.3%
10. Portland-Vancouver-Hillsboro, OR-WA +1.3%
11. Seattle-Tacoma-Bellevue, WA +1.4%
12. New York-Newark-Jersey City, NY-NJ +1.5%
13. St. Louis, MO-IL +1.7%
14. San Diego-Chula Vista-Carlsbad, CA +1.7%
15. Birmingham, AL +1.8%

 Full Results


The Views Expressed In This Article Belong Solely To The Original Author, And We Assume No Responsibility For Its Accuracy, Completeness, Or Any Consequences Arising From Its Use.

The Views Expressed In This Article Belong Solely To The Original Author, And We Assume No Responsibility For Its Accuracy, Completeness, Or Any Consequences Arising From Its Use.

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