Average Rent by City (2026)
Data last reviewed: July 2026
The national “average rent” hides a 3x spread between the most and least expensive major metros. This page lists typical asking rents for 54 major US metros as of mid-2026, with the year-over-year direction and rent as a share of local median household income, then explains why the two most-cited national rent numbers disagree and how investors should read asking-rent data.
National picture, June 2026: Zillow’s Observed Rent Index (all rental types, including houses) puts typical asking rent at $1,965/month, up 2.2% year over year. Apartment List’s apartment-only median is $1,385/month, down 1.2% year over year. The gap is methodology, not error: single-family homes rent for far more than apartments, and Zillow weights to the whole rental stock. About 39.7% of rental listings offered a concession in June 2026.
Average rent by metro (mid-2026)
Rents are Zillow Observed Rent Index (ZORI) metro levels from June 2026, blending apartments and single-family rentals; rows marked * use estimated values for metros outside the Zillow top-50 table. Income share compares annualized rent to the approximate metro median household income (ACS-style estimates).
| # | Metro | Typical asking rent | YoY direction | Rent as % of median income |
|---|---|---|---|---|
| 1 | San Jose, CA | $3,729/mo | Up (+6.2%) | ~29.2% |
| 2 | New York, NY | $3,573/mo | Up (+4.5%) | ~46.1% |
| 3 | San Francisco, CA | $3,301/mo | Up (+8.2%) | ~30.9% |
| 4 | Boston, MA | $3,210/mo | Up (+2.6%) | ~37% |
| 5 | San Diego, CA | $2,991/mo | Up (+1.7%) | ~37.4% |
| 6 | Los Angeles, CA | $2,927/mo | Up (+1.5%) | ~39.5% |
| 7 | Miami, FL | $2,695/mo | Up (+1.2%) | ~45.5% |
| 8 | Riverside, CA | $2,539/mo | Up (+2.3%) | ~36.3% |
| 9 | Washington, DC | $2,448/mo | Flat (+0.1%) | ~26.5% |
| 10 | Sacramento, CA | $2,308/mo | Up (+2%) | ~30.1% |
| 11 | Chicago, IL | $2,275/mo | Up (+5.2%) | ~31.7% |
| 12 | Seattle, WA | $2,269/mo | Up (+1.4%) | ~24.8% |
| 13 | Tampa, FL | $2,020/mo | Flat (-0.7%) | ~34.1% |
| 14 | Orlando, FL | $1,972/mo | Flat (+0.7%) | ~32.4% |
| 15 | Baltimore, MD | $1,936/mo | Up (+2.2%) | ~25.5% |
| 16 | Denver, CO | $1,930/mo | Down (-1.3%) | ~23.4% |
| 17 | Philadelphia, PA | $1,928/mo | Up (+3.6%) | ~27.2% |
| 18 | Virginia Beach, VA | $1,878/mo | Up (+5.5%) | ~27.5% |
| 19 | Atlanta, GA | $1,854/mo | Up (+1.9%) | ~26.8% |
| 20 | Nashville, TN | $1,810/mo | Flat (+0.4%) | ~26.5% |
| 21 | Portland, OR | $1,805/mo | Flat (+0.4%) | ~23% |
| 22 | Richmond, VA | $1,772/mo | Up (+3.3%) | ~25.6% |
| 23 | Charlotte, NC | $1,750/mo | Flat (+0.5%) | ~26.9% |
| 24 | Las Vegas, NV | $1,748/mo | Flat (+0.3%) | ~27.6% |
| 25 | Phoenix, AZ | $1,733/mo | Flat (0%) | ~25.4% |
| 26 | Minneapolis-St. Paul, MN | $1,727/mo | Up (+3.4%) | ~22.5% |
| 27 | Jacksonville, FL | $1,708/mo | Up (+1.2%) | ~27% |
| 28 | Raleigh, NC | $1,689/mo | Flat (+0.3%) | ~22.3% |
| 29 | Dallas-Fort Worth, TX | $1,673/mo | Flat (0%) | ~24.2% |
| 30 | Austin, TX | $1,653/mo | Down (-1.7%) | ~20.9% |
| 31 | Houston, TX | $1,648/mo | Flat (-0.1%) | ~25.4% |
| 32 | Salt Lake City, UT | $1,638/mo | Flat (+0.6%) | ~20.7% |
| 33 | New Orleans, LA | $1,617/mo | Flat (+0.8%) | ~30.8% |
| 34 | Cincinnati, OH | $1,583/mo | Up (+2.8%) | ~25% |
| 35 | Indianapolis, IN | $1,558/mo | Up (+2.5%) | ~24.3% |
| 36 | Milwaukee, WI | $1,552/mo | Up (+4.2%) | ~24.8% |
| 37 | Huntsville, AL | $1,550/mo | Flat (+1%) | ~24.2% |
| 38 | Kansas City, MO | $1,545/mo | Up (+3.4%) | ~23.2% |
| 39 | Columbus, OH | $1,528/mo | Up (+1.5%) | ~22.9% |
| 40 | Pittsburgh, PA | $1,523/mo | Up (+3.6%) | ~25.4% |
| 41 | Detroit, MI | $1,518/mo | Up (+3.2%) | ~26% |
| 42 | Cleveland, OH | $1,474/mo | Up (+4%) | ~25.6% |
| 43 | Birmingham, AL | $1,462/mo | Up (+1.2%) | ~25.8% |
| 44 | Buffalo, NY | $1,461/mo | Up (+3.1%) | ~25.8% |
| 45 | St. Louis, MO | $1,459/mo | Up (+4%) | ~23.3% |
| 46 | Memphis, TN | $1,435/mo | Flat (+0.7%) | ~26.5% |
| 47 | Rochester, NY | $1,420/mo | Up (+3.5%) | ~24.3% |
| 48 | San Antonio, TX | $1,416/mo | Down (-1.8%) | ~24.3% |
| 49 | Oklahoma City, OK | $1,393/mo | Up (+2.8%) | ~23.9% |
| 50 | Louisville, KY | $1,385/mo | Up (+2.3%) | ~23.7% |
| 51 | Akron, OH | $1,320/mo | Up (+3.5%) | ~23.6% |
| 52 | Toledo, OH | $1,302/mo | Up (+4.7%) | ~24.8% |
| 53 | Tulsa, OK | $1,300/mo | Up (+2.5%) | ~23.3% |
| 54 | Little Rock, AR | $1,250/mo | Up (+2%) | ~23.4% |
The most and least expensive rental markets
The most expensive: San Jose, CA ($3,729), New York, NY ($3,573), San Francisco, CA ($3,301), Boston, MA ($3,210), San Diego, CA ($2,991). All five are supply-constrained coastal metros where rent consumes roughly 29-46% of median household income, and, as our price-to-rent ratio page shows, where buying is even more stretched than renting.
The least expensive: Little Rock, AR ($1,250), Tulsa, OK ($1,300), Toledo, OH ($1,302), Akron, OH ($1,320), Louisville, KY ($1,385). These metros pair sub-$1,450 rents with low home prices, which is why several of them top our cap rates by city ranking, cheap rent cities are usually even cheaper house cities, so yields stay high.
The fastest-changing markets
The sharpest 2026 story is the Sun Belt supply wave. Metros that permitted record apartment construction in 2021-2023 are now absorbing it: Austin (−1.7% YoY), San Antonio (−1.8%), Denver (−1.3%), Tampa (−0.7%), and Phoenix and Dallas (flat) all have soft asking rents and widespread concessions. Meanwhile supply-tight Midwest and Northeast metros are quietly leading rent growth: San Francisco (+8.2%, rebounding from its post-2020 hole), San Jose (+6.2%), Virginia Beach (+5.5%), Chicago (+5.2%), Milwaukee (+4.2%), and Cleveland and St. Louis (+4%). The lesson for 2026: rent growth is following whoever did not build, not whoever grew fastest.
How investors should read asking-rent data
- Asking rents lead in-place rents. ZORI tracks new listings, so it previews where renewals will drift over the next 6-12 months. Falling asking rents in Austin today mean tougher renewal negotiations there next year.
- Watch concessions, not just headline rent.With ~40% of national listings offering a concession, effective rents run below asking in soft markets. A “$1,700” unit with six weeks free is really a ~$1,500 unit.
- Metro averages are a starting point only. Bedroom count, submarket, and condition swing rent by far more than citywide trends. Underwrite each property with a specific estimate, our free rent estimate calculator plus local comps, then stress-test the deal in the rental property calculator.
- Compare rent to income, not just to other rents. Markets where rent already consumes 35%+ of median income (Miami, Los Angeles, New York) have limited room for rent growth without wage growth, whatever demand looks like. Midwest markets in the low-to-mid-20s band have more headroom.
If you would rather own the rent check than write one, the Lofty marketplace lists fractional shares of rental properties across many of these metros, and our best cities for investing in 2026 ranking scores which rent markets are most attractive to landlords right now.
Frequently asked questions
- What is the average rent in the US in 2026?
- It depends on the measure. Zillow’s Observed Rent Index put the national typical asking rent at $1,965 in June 2026 (up 2.2% year over year) across all home types including single-family houses. Apartment List’s apartment-focused median was $1,385 (down 1.2% year over year). Both are correct for what they measure; houses rent for more than apartments.
- Why do Zillow and Apartment List report such different rents?
- Methodology. Zillow’s ZORI blends all rental types, including single-family homes, and weights to the full rental stock, so it skews higher. Apartment List tracks median apartment rents from its listings. Investors underwriting single-family rentals should lean on ZORI-style figures; apartment investors on apartment medians.
- Which US city has the highest rent in 2026?
- Among major US metros, San Jose leads at roughly $3,729/month typical asking rent, followed by New York (~$3,573), San Francisco (~$3,301), Boston (~$3,210), and San Diego (~$2,991), per Zillow’s June 2026 data.
- Which major cities have the cheapest rent?
- Little Rock (~$1,250), Tulsa (~$1,300), Toledo (~$1,302), Akron (~$1,320), Louisville (~$1,385), and Oklahoma City (~$1,393) are the least expensive large metros, all roughly 30% below the national typical rent of $1,965.
- Are rents going up or down in 2026?
- Mildly up nationally (+2.2% by ZORI), but the direction splits by region. Midwest and Northeast metros are rising 3-5% on tight supply, while Sun Belt metros that built heavily, Austin, San Antonio, Denver, Phoenix, Tampa, are flat to down. Nearly 40% of listings nationwide offered a concession in June 2026.
- How much of my income should go to rent?
- The standard guideline is at most 30% of gross income. On the metro medians in this table, typical rent consumes roughly 22-26% of median household income in most Midwest metros but 29-46% in coastal California, Miami, and New York, which is why affordability, not just price, matters when comparing cities.
- How should investors use asking-rent data?
- Asking rents lead in-place rents by 6-12 months, so they show where your renewal rates are heading. But underwrite with a property-specific estimate, not a metro average: submarket, condition, and bedroom count move rent far more than the citywide number. A rent-estimate tool plus local comps is the standard approach.
Methodology & sources
Metro rents are Zillow Observed Rent Index (ZORI) levels from the June 2026 Zillow market report, except rows marked as estimated, which are editorial approximations. National comparisons use ZORI ($1,965) and the Apartment List June 2026 national median ($1,385). Median household incomes are rounded ACS-style estimates, so income-share figures are approximate, as of mid-2026. Data last reviewed: July 2026.
- Zillow Research — Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI), metro-level typical home values and asking rents.
- Tax Foundation — Effective property tax rates on owner-occupied housing by state (2026 table, 2024 American Community Survey data).
- U.S. Census Bureau — American Community Survey data on household incomes, housing values, and property taxes paid.
- FRED, Federal Reserve Bank of St. Louis — Historical series for home prices, rents, and mortgage rates used to sanity-check levels and trends.
All figures on this page are approximate estimates compiled for research and education, as of mid-2026. They are not investment advice, an offer to sell securities, or a substitute for your own underwriting. Metro-level averages hide wide neighborhood-level variation; always verify current local data before making decisions.