Rent Report: The State of the Rental Market

Updated: August 3, 2020

Apartment Guide’s 2020 Mid-Year Rent Report highlights current trends and price fluctuations that renters may experience in various parts of the United States. The report evaluates overall year-over-year trends from mid-year 2019 to 2020 but also offers month-over-month analysis to understand how the coronavirus pandemic and changing economic climate may be impacting rent prices. We compare rent prices for studio, one-bedroom and two-bedroom apartments to determine which areas of the country or cities are becoming more expensive or more affordable for renters.

Plus, we analyze a key few takeaways and insights from our findings — such as whether or not markets with the largest rent increases are also those with the most expensive rent prices — to educate renters about trends they may experience when searching for a new place to call home.

In this report:

National average rent price trends in Q2

Through the second quarter of 2020, national average rent prices have increased year-over-year across unit types.

mid year rent report national average rent prices

We noted:

  • Studio apartments currently reflect the biggest change in average rent prices, jumping to $1,691 per month in 2020 from $1,605 in 2019 (a 5.37% increase)
  • One-bedroom apartments, on the other hand, have changed the least — rising to $1,621 in 2020 from $1,596 in 2019 (a 1.6% increase)
  • The second-largest pricing change was for two-bedroom units, which currently rent for $1,878 in 2020 vs. $1,815 in 2019 (up 3.46%)

An interesting takeaway here is that the average studio unit remains more expensive nationally than the average one-bedroom apartment, but that gap has widened in 2020 compared to 2019.

Month-to-month national average rent price trends

While all unit sizes saw an increase in average rent prices in the second quarter of 2020 compared to the same period last year, the comparison looks slightly different when you look at average rent prices in each of the first six months of the year. The trend line for 2020 more closely resembles that of 2018, whereas 2019 appears to the outlier.

This is perhaps surprising due to the economic struggles caused by the coronavirus pandemic in 2020, but it shows that, as a whole, national average rent prices have not yet been largely impacted by current events and instead have followed more traditional seasonal patterns.

Average rent prices in individual markets are seeing more fluctuation, as we’ll get to later in this report.

Monthly average studio rent prices in 2020 compared to 2019 and 2018

National studio rent prices increased by 4.23% (or nearly $70) when comparing June 2020 to January 2020.

month over month studio national average rent price changes

Digging deeper into the monthly trends, we noticed the following interesting takeaways:

  • Average rent prices in 2020 decreased each month from January to March, before increasing in April (2.42%), May (1.8%) and June (1.3%)
  • In April, average rent prices were highest in 2018 ($1,697)
  • 2018 had the highest increase in rent prices (5.49%) from January to June out of all three years

Monthly average 1-bedroom rent prices in 2020 compared to 2019 and 2018

One-bedroom average rent prices followed a more consistent trend over the first six months of 2020, 2019 and 2018. In 2020, prices increased by 5.73%, compared to 2.59% in 2019 and 6.22% in 2018.

month over month 1-bedroom national average rent price changes

Looking closely at the month-to-month price changes, we noticed the following interesting data points:

  • Similar to studio average rent prices, one-bedroom rent remained relatively flat from January to March before increasing each month in April (2.09%), May (2.14%) and June (1.5%)
  • 2019 had the most expensive average rent prices in January ($1,577), February ($1,582) and March ($1,573), while 2020 was most expensive in April ($1,592), May ($1,626) and June ($1,651)
  • Rent prices in 2018 experienced the largest overall growth during the first six months of the year (6.22%) even though 2018’s average rent was most affordable in each month compared to 2020 and 2019

Monthly average 2-bedroom rent prices in 2020 compared to 2019 and 2018

The average national rent for two-bedroom apartments had the largest growth during the first six months of 2020 compared to all other unit types. Between January and June, prices increased by 7.86% or nearly $140.

month over month 2-bedroom national average rent price changes

There are noticeable similarities and differences when you compare the two-bedroom rent price trends to other unit sizes:

  • Just like we saw with studio and one-bedroom units, the national average rent price for two-bedroom apartments was flat from January to March before increasing in April (3.16%), May (2.11%) and June (1.91%)
  • The largest month-over-month increase was 5.43% between March 2018 and April 2018
  • The $140 average rent price increase between June and January in 2020 is 3.5 times higher than the $40 increase noted over the same time period in 2019

State average rent price trends

Narrowing in on a more local view, here’s a look at the changes we observed state-by-state.

When comparing different states and different unit sizes, we noticed that two-bedroom units saw the largest number of states with rent price increases:

  • Average studio rent prices increased in 28 states and decreased in 18 states (including Washington, DC). Five states had insufficient inventory.
  • Average one-bedroom rent prices increased in 26 states and decreased in 25 states (including Washington, DC)
  • Average two-bedroom rent prices increased in 30 states and decreased in 21 states (including Washington, DC)

Top 10 states for one-bedroom rent increases

These states have seen average one-bedroom apartment prices increase from Q2 2019 to Q2 2020:

RankState2020 Q2 1BR Average Rent2019 Q2 1BR Average RentYoY Percentage Change
1New Mexico$967.75$778.3224.34%
2New York$2,476.63$2,030.1721.99%
3Missouri$1,490.26$1,231.0321.06%
4West Virginia$1,170.67$984.5418.91%
5Arkansas$759.03$678.8711.81%
6Iowa$920.27$828.5311.07%
7Nevada$1,231.97$1,113.3410.66%
8Rhode Island$1,893.35$1,729.739.46%
9Nebraska$1,001.97$945.345.99%
10Arizona$1,317.31$1,243.045.98%

Top 10 states for one-bedroom rent decreases

These states have seen average one-bedroom rent prices fall the most from Q2 2019 to Q2 2020:

RankState2020 Q2 1BR Average Rent2019 Q2 1BR Average RentYoY Percentage Change
1Hawaii$1,795.91$2,318.74-22.55%
2Wyoming$697.53$883.12-21.02%
3Kansas$1,030.91$1,190.59-13.41%
4Utah$1,267.42$1,431.98-11.49%
5Montana$1,145.93$1,285.40-10.85%
6Oregon$1,706.40$1,827.76-6.64%
7North Carolina$1,151.17$1,229.69-6.39%
8Connecticut$1,642.01$1,746.17-5.96%
9Maine$1,375.47$1,448.31-5.03%
10Alaska$679.74$715.52-5.00%

Here are some additional trends we spotted for one-bedroom average rent prices by state:

  • Of the 10 states where rent increased the most, two (New York and Rhode Island) were also in the top 10 for average one-bedroom rent prices. Three (New Mexico, Arkansas and Iowa) were in the bottom 10 for average one-bedroom rent prices.
  • Of the 10 states where rent decreased the most, only one (Hawaii) was in the top 10 for average one-bedroom prices. Two states (Alaska and Wyoming) were in the bottom 10 for average one-bedroom rent prices and are actually the two most affordable states by average rent prices in the country.

Average rent price trends in the most populated markets

We were able to identify rent trends for nearly 90 percent of the 100 most populated cities in the U.S., based on inventory levels. Complete data for these cities can be found in our methodology.

National overall rent price increases in the most populated cities

  • 17 cities show across-the-board rent increases in studio, one- and two-bedroom units
  • 24 cities show across-the-board rent decreases in studio, one- and two-bedroom units

National studio rent price increases in the most populated cities

  • 52% of qualified cities reflected an increase in studio prices
  • 48% of qualified cities reflected a decrease in studio prices

National one-bedroom rent price increases in the most populated cities

  • 43% of qualified cities reflected an increase in one-bedroom prices
  • 57% of qualified cities reflected a decrease in one-bedroom prices

National two-bedroom rent price increases in the most populated cities

  • 38% of qualified cities reflected an increase in two-bedroom prices
  • 62% of qualified cities reflected a decrease in two-bedroom prices

Rent price trends in the 25 most populated cities

One-bedroom rents are increasing in nine of the top 25 U.S. markets by population:

In contrast, one-bedroom rents are decreasing in 16 of the top 25 U.S. markets by population:

Top markets for rising and falling rent prices

The majority of dramatic changes in rents, whether up or down, were seen in the West, followed by the South — with the exception of larger units that experienced more up and downshifts in the Midwest than anywhere else. The Northeast seems, by far, to be demonstrating the most stability in rent prices.

Top 10 cities for studio increases

Studio prices have risen sharply in some markets — up nearly 50% in two West Coast cities. Of the cities seeing the most dramatic upward shifts for this unit size, four are in the West, three are in the Midwest and three are in the South. Interestingly, none are in the Northeast region.

RankCityPopulation2020 Q2 Studio Average Rent2019 Q2 Studio Average RentYoY Percentage Change
1Sacramento, CA508,529$2,255.42 $1,510.65 49.30%
2Reno, NV250,998$1,040.44 $714.3845.64%
3Wichita, KS389,255$848.50$670.4426.56%
4Scottsdale, AZ255,310$1,620.68 $1,283.50 26.27%
5Las Vegas, NV644,644$829.53$658.5425.96%
6Columbus, OH892,533$1,138.40 $925.7922.96%
7Irving, TX242,242$1,863.76 $1,517.96 22.78%
8Nashville, TN669,053$1,880.35 $1,609.80 16.81%
9St. Louis, MO302,838$1,251.35 $1,077.48 16.14%
10El Paso, TX682,669$644.91$563.5014.45%

Top 10 cities for studio decreases

The biggest drops in studio prices have been seen in the West (six cities), followed by the South (three cities). The Northeast gets one mention on this list, and the Midwest has none.

RankCityPopulation2020 Q2 Studio Average Rent2019 Q2 Studio Average RentYoY Percentage Change
1San Antonio, TX1,532,233$804.25$1,206.28-33.33%
2Houston, TX2,325,502$1,186.34$1,492.75-20.53%
3Phoenix, AZ1,660,272$1,075.30$1,312.22-18.06%
4Irvine, CA282,572$2,094.86$2,540.17-17.53%
5San Francisco, CA883,305$3,408.63$4,085.27-16.56%
6Henderson, NV310,390$1,255.23$1,497.63-16.19%
7Jacksonville, FL903,889$723.08$844.65-14.39%
8San Diego, CA1,425,976$1,998.50$2,301.91-13.18%
9Newark, NJ282,090$1,719.19$1,946.64-11.68%
10San Jose, CA1,030,119$2,409.52$2,724.18-11.55%

Top 10 cities for one-bedroom increases

The cost of a one-bedroom is shooting up fastest in the West (four cities) and Midwest (four cities), followed by the South (two cities).

RankCityPopulation2020 Q2 1BR Average Rent2019 Q2 1BR Average RentYoY Percentage Change
1St. Louis, MO302,838$1,856.09$1,280.9644.90%
2Sacramento, CA508,529$2,262.85$1,612.8240.30%
3Albuquerque, NM560,218$933.77$777.6220.08%
4Lincoln, NE287,401$1,093.48$940.2916.29%
5Las Vegas, NV644,644$1,174.32$1,010.7216.19%
6St. Petersburg, FL265,098$1,633.18$1,408.7315.93%
7Wichita, KS389,255$889.79$777.5814.43%
8Virginia Beach, VA450,189$1,322.62$1,156.6614.35%
9Colorado Springs, CO472,688$1,346.14$1,192.1312.92%
10Columbus, OH892,533$1,130.43$1,001.7712.84%

Top 10 cities for one-bedroom decreases

Although the West dominates this list (six cities), this is the first point at which every region is represented in the top 10.

RankCityPopulation2020 Q2 1BR Average Rent2019 Q2 1BR Average RentYoY Percentage Change
1Long Beach, CA467,354$1,907.99$2,512.84-24.07%
2Spokane, WA219,190$1,136.55$1,400.74-18.86%
3Irvine, CA282,572$2,262.15$2,707.89-16.46%
4Newark, NJ282,090$1,984.78$2,323.63-14.58%
5Fresno, CA530,093$1,133.89$1,323.49-14.33%
6Portland, OR653,115$1,803.48$2,061.12-12.50%
7Oklahoma City, OK649,021$781.51$885.16-11.71%
8San Jose, CA1,030,119$2,863.85$3,201.28-10.54%
9Baltimore, MD602,495$1,601.52$1,777.35-9.89%
10Milwaukee, WI592,025$1,280.39$1,416.48-9.61%

Top 10 cities for two-bedroom increases

This is the first list dominated by the Midwest (five cities). The West isn’t far behind (three cities), followed by the South (two cities).

RankCityPopulation2020 Q2 2BR Average Rent2019 Q2 2BR Average RentYoY Percentage Change
1St. Louis, MO302,838$2,185.39$1,502.5445.45%
2Las Vegas, NV644,644$1,446.72$1,185.7022.01%
3Sacramento, CA508,529$2,315.28$1,898.2521.97%
4Albuquerque, NM560,218$1,112.88$924.8820.33%
5Greensboro, NC294,722$1,126.11$949.3218.62%
6Indianapolis, IN867,125$1,407.20$1,203.0816.97%
7Milwaukee, WI592,025$1,717.74$1,484.4615.71%
8Lincoln, NE287,401$1,264.40$1,095.7715.39%
9Columbus, OH892,533$1,346.15$1,181.4013.95%
10Virginia Beach, VA450,189$1,437.79$1,265.4913.61%

Top 10 cities for two-bedroom decreases

When it comes to the most notable decreases in two-bedroom rents, the Midwest leads (four cities). After that, the West and South tie at three each.

RankCityPopulation2020 Q2 2BR Average Rent2019 Q2 2BR Average RentYoY Percentage Change
1Long Beach, CA467,354$2,295.22$3,352.57-31.54%
2Wichita, KS389,255$621.72$876.34-29.06%
3Fresno, CA530,093$1,093.46$1,485.91-26.41%
4Irvine, CA282,572$2,725.58$3,243.87-15.98%
5Cleveland, OH383,793$1,776.77$2,107.10-15.68%
6Arlington, TX398,112$1,302.67$1,532.82-15.02%
7Baltimore, MD602,495$1,692.96$1,977.93-14.41%
8Detroit, MI672,662$1,720.47$2,008.85-14.36%
9Louisville, KY620,118$1,185.29$1,380.54-14.14%
10Minneapolis, MN425,403$1,995.30$2,315.35-13.82%

Average month-to-month rent changes in the most populated U.S. cities

As noted earlier in our report, although national rent prices seemed to follow a standard seasonal trend in Q2, there was more fluctuation in specific markets. Most notably, we identified 33 cities with sufficient inventory where the average one-bedroom rent price decreased from April 2020 to June 2020.

Majority of cities with month-to-month Q2 decreases in 2020 had increases in 2019

Looking more closely at the rent price trends in these cities from April to June, it appears the 2020 changes are more indicative of current economic conditions than the national or even state-level trends.

  • Out of the 33 cities with month-to-month decreases, 67% had rent price increases over the same time period in 2019 and 36% had rent prices increases or remained flat over the same time period in both 2019 and 2018
  • Only six cities (Baltimore, Oklahoma City, Milwaukee, Chicago, Tulsa and Houston) had month-over-month decreases from April to June in 2020, 2019 and 2018
RankCityPopulationJune 2020 vs. April 2020June 2019 vs. April 2019June 2018 vs. April 2018
1Garland, TX242,507-18.35%5.61%9.27%
2Oakland, CA429,082-10.58%3.13%N/A
3Plano, TX288,061-9.61%5.57%1.90%
4Scottsdale, AZ255,310-9.04%3.96%-1.27%
5Greensboro, NC294,722-7.65%-16.90%10.27%
6Baltimore, MD602,495-7.39%-0.20%-6.75%
7Louisville, KY620,118-5.90%-0.63%0.69%
8Los Angeles, CA3,990,456-5.42%-2.31%0.52%
9Oklahoma City, OK649,021-5.26%-6.60%-1.89%
10Anaheim, CA352,005-4.43%4.21%3.30%
11Atlanta, GA498,044-4.41%-0.33%0.27%
12Milwaukee, WI592,025-4.31%-1.74%-4.38%
13Miami, FL470,914-3.97%0.21%-1.78%
14Charlotte, NC872,498-3.74%16.73%-4.50%
15Lubbock, TX255,885-3.43%N/AN/A
16Chicago, IL2,705,994-3.28%-2.03%-3.95%
17Orlando, FL285,713-2.87%3.20%2.13%
18Austin, TX964,254-2.74%1.23%1.33%
19San Jose, CA1,030,119-2.61%2.78%0.29%
20Seattle, WA744,955-2.33%4.80%11.54%
21Raleigh, NC469,298-2.30%0.95%5.30%
22Aurora, CO374,114-2.29%0.17%0.00%
23Tulsa, OK400,669-1.94%-3.95%-0.15%
24Jersey City, NJ265,549-1.76%5.44%-2.26%
25Jacksonville, FL903,889-1.71%10.33%6.07%
26Houston, TX2,325,502-1.69%-3.29%-0.68%
27Nashville, TN669,053-1.66%5.72%-3.22%
28Tuscon, AZ545,975-1.20%2.95%3.47%
29Henderson, NV310,390-1.02%11.80%-0.81%
30San Diego, CA1,425,976-0.39%4.59%5.30%
31Minneapolis, MN425,403-0.34%5.94%-0.54%
32Albuquerque, NM560,218-0.32%1.09%-12.26%
33Corpus Christi, TX326,554-0.22%-6.34%1.67%

Prices are decreasing in half of the 15 largest cities

Population generally does not seem to have an overall impact on which cities saw month-to-month price increases or decreases during Q2 2020. However, we did notice that April to June rent was down in roughly half of the 15 most populous cities in the country, including Los Angeles, Chicago, Houston and San Jose.

In addition, there are several smaller cities in metropolitan areas (Garland, TX; Plano, TX; Scottsdale, AZ; Jersey City, NJ; Henderson, NV; Aurora, CO) that saw decreases while their larger neighbors had average rent increases.

Month-to-month decreases do not necessarily mean YoY decreases

Out of the 33 cities with month-to-month decreases, 67% also had YoY decreases, while 33% had a YoY increase. The most notable exceptions are Garland, TX (18.35% April to June decrease and 8.49% YoY increase), Scottsdale, AZ (9.04% April to June decrease and 10.52% YoY increase) and Albuquerque, NM (0.32% April to June decrease and 20.08% YoY increase).

RankCityPopulationJune 2020 vs. April 2020Q2 2020 vs Q2 2019
1Garland, TX242,507-18.35%8.49%
2Oakland, CA429,082-10.58%-0.07%
3Plano, TX288,061-9.61%6.22%
4Scottsdale, AZ255,310-9.04%10.52%
5Greensboro, NC294,722-7.65%0.82%
6Baltimore, MD602,495-7.39%-9.89%
7Louisville, KY620,118-5.90%-9.32%
8Los Angeles, CA3,990,456-5.42%-4.75%
9Oklahoma City, OK649,021-5.26%-11.71%
10Anaheim, CA352,005-4.43%4.18%
11Atlanta, GA498,044-4.41%-2.54%
12Milwaukee, WI592,025-4.31%-9.61%
13Miami, FL470,914-3.97%-3.37%
14Charlotte, NC872,498-3.74%-5.83%
15Lubbock, TX255,885-3.43%-0.53%
16Chicago, IL2,705,994-3.28%1.74%
17Orlando, FL285,713-2.87%-4.00%
18Austin, TX964,254-2.74%3.98%
19San Jose, CA1,030,119-2.61%-10.54%
20Seattle, WA744,955-2.33%-3.06%
21Raleigh, NC469,298-2.30%-6.82%
22Aurora, CO374,114-2.29%-5.03%
23Tulsa, OK400,669-1.94%-2.95%
24Jersey City, NJ265,549-1.76%0.20%
25Jacksonville, FL903,889-1.71%-6.30%
26Houston, TX2,325,502-1.69%-3.54%
27Nashville, TN669,053-1.66%0.75%
28Tuscon, AZ545,975-1.20%2.11%
29Henderson, NV310,390-1.02%-4.57%
30San Diego, CA1,425,976-0.39%-7.56%
31Minneapolis, MN425,403-0.34%-2.70%
32Albuquerque, NM560,218-0.32%20.08%
33Corpus Christi, TX326,554-0.22%-1.89%

It stands to reason that some of the recent price decreases in cities that are also experiencing year-over-year increases may be, in part, caused by the current economic climate and coronavirus pandemic. These are areas where prices have gone up from this time last year, which follows the national trend, but at the same time have decreased slightly over the past three months, which goes against the month-to-month national trend.

It’s important to note that additional factors may also be influencing these changes, including local supply and demand, new construction or changes in available inventory and shifting ratios of affordable to luxury-level units.

Rent prices are going down in half of coronavirus hotspot cities

Since the coronavirus pandemic arrived in the United States earlier this year, several cities have been dubbed “hotspots” by media and health officials. In the first few months of the pandemic, it was Seattle, New York City, Los Angeles, New Orleans and Detroit. In recent weeks, Miami, Houston and Phoenix were added to the list.

Looking at April to June rent price changes, it seems prices have decreased in Los Angeles (-5.42%), Miami (-3.97%), Seattle (-2.33%) and Houston (-1.69%). However, it’s worth pointing out that these cities also saw YoY price decreases from Q2 2020 to Q2 2019.

Prices in New Orleans (4.82%), New York (5.5%) and Phoenix (7.28%) have increased from April to June of this year. Detroit had insufficient inventory to draw a meaningful conclusion.

Advice for renters

The new normal that we’re all living in, given the coronavirus pandemic, has already influenced how we live – and in some cases, where we live or might want to live in the future. Here are a few suggestions to help you navigate these changing times:

  • Prepare for virtual tours. An increasing number of properties have moved to online-only tours; others will provide physical access to the property but may choose to distribute keys to prospective tenants for self-guided walk-throughs.
  • Do your homework. Research what’s on the market before and during your search, and know what typical rent prices and amenities are in your desired neighborhood and price range. Remember to ask each property you visit for the average cost of utilities per unit type and if there are charges for amenities like on-site parking, additional storage, access tools such as fobs, pest control and trash valet. Find out if the property you’re interested in has negotiated deals with the local cable and internet provider, and ask whether neighborhood merchants offer residents any deals or perks as well. Lastly, find out how maintenance requests are handled — particularly during the coronavirus pandemic.
  • Negotiate. There aren’t deals to be found everywhere, but as personal finance expert Suze Orman shared with us recently, it’s a good time to be a renter. Prices are down in many areas and value is a constantly shifting baseline given supply and demand, as well as other variables. You should feel empowered to ask landlords how to lower your rent, extend a lease term, pursue amenity upgrades, and understand payment plan options or request a financial break in a time of hardship.
  • Ask about shared amenities. Many rental buildings have closed community amenities such as the on-site gym, conference room and swimming pool. For those that haven’t or have re-opened, you have a right to know what management’s approach is. Are there social distancing rules in place in these areas? How safe will you feel retrieving your mail and packages or entering an elevator? Consider each need that arises in your daily life and understand how the environment you’re considering will meet those needs.
  • Assess safety. Some buildings are making choices aimed at keeping residents safe from coronavirus, such as propping stairwell doors open. Ask about the property’s efforts to ventilate and weigh the answer against any potential safety concerns it could raise.
  • Learn about quiet hours and noise rules. Without question, more people than ever before are spending unprecedented amounts of time at home. Find out what the property’s quiet hours are, how they’re enforced and what kind of guidance is in place regarding noise levels.
  • Evaluate needs vs. wants. Choose a neighborhood and property based on needs first. Allow yourself a stable financial foundation to work from with the knowledge that creature comforts come in many forms and can be added to your life as your budget allows.
  • Look for levers. If your neighborhood and property allow you easy access to public transportation, then you know you’ll have a key cost-saving measure available if you need it. Similarly, if your property has an on-site gym or your desired apartment has ample storage space, you know you won’t need to budget for those expenses. The balance of amenities that you’re able to establish will allow you choices about how to spend your money, beyond rent.
  • Remember, timing matters. There’s a reason that people tend to buy cars and televisions on certain days of the year, and the same rule applies when looking for a new home. Rents can be lower in the fall and winter months and higher in summer months as people relocate for school zoning needs and job-related reasons. Understand the ways in which seasonality can impact your search, and be as flexible as you can about your desired move-in date.
  • Partner up. A roommate can be more than just good company. Consider the benefits of sharing the cost of rent, utilities and perhaps an on-site storage locker and cost club membership.
  • Live on a middle floor. You might want the convenience of a first-floor unit or the views and quiet that come with a top floor, but did you know you can save money on rent, as well as your heating and cooling bills, by living on a middle floor? When you have other units surrounding yours, you can benefit from some of the heat or air conditioning that your neighbors are using. This means you might be able to run your heating and cooling units less, saving on your electric or gas bill.

The new meaning of home

Before the coronavirus pandemic, some of us were homebodies and some of us weren’t — but now all of us are looking for ways to be more comfortable at home and keep expenses down in living spaces that are suddenly occupied 24/7.

Remember that despite the roll-out of virtual apartment tours and new guidelines governing how renters share space, you are still in control of your experience with renting and living in an apartment home. Think about not only where you want to live, but how you want to live — including how you want to manage your finances right now. Advocate for yourself to ensure that you land in a situation that meets your current needs, and remember to give yourself the time and space needed for decision-making in an unusual period of time.

Methodology

To determine our average rent prices for Q2, we took data from Apartment Guide and Rent.com’s multifamily rental property inventory from April, May and June in each given year and averaged those prices together to find an average for the quarter. Month-to-month averages are based on the average price for that respective month. We used a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets.

The U.S. Census divides the country into four geographic regions: Northeast (Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont); Midwest (Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin); South (Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, District of Columbia and West Virginia) and West (Alaska, Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Hawaii, Utah, Washington and Wyoming).

The top 100 cities are determined by 2018 U.S. Census Bureau population estimates. We excluded cities with less than 10 average available studio units and 50 average available one- or two-bedroom units in each quarter or month to eliminate potential outliers or highly volatile data caused by a small sample size. Year-over-year rent price increases and decreases are based on the percentage change of apartment rental prices from Q2 2020 to Q2 2019. The month-to-month analysis is based on 74 total cities with more than 50 average units in every month from April to June in its respective year.

Here is the full rental data among the top 100 most populated cities. Insufficient data is marked as N/A.

Rank by PopulationCityPopulation2020 Q2 Studio Avg Rent1-Year Change: Studio2020 Q2 1-BR Avg Rent1-Year Change: 1BR2020 Q2 2-BR Avg Rent1-Year Change: 2BR
1New York, NY8,398,748$3,300.25-0.12%$4,434.499.14%$5,622.72-6.02%
2Los Angeles, CA3,990,456$2,456.41-7.92%$3,167.72-4.75%$4,596.28-9.17%
3Chicago, IL2,705,994$1,795.05-6.61%$2,424.471.74%$3,191.90-5.32%
4Houston, TX2,325,502$1,186.34-20.53%$1,235.68-3.54%$1,615.94-4.55%
5Phoenix, AZ1,660,272$1,075.30-18.06%$1,393.79-3.89%$1,780.238.39%
6Philadelphia, PA1,584,138$1,604.57-0.96%$2,116.705.01%$2,918.733.52%
7San Antonio, TX1,532,233$804.25-33.33%$1,128.50-0.26%$1,378.70-3.01%
8San Diego, CA1,425,976$1,998.50-13.18%$2,335.27-7.56%$2,932.98-11.85%
9Dallas, TX1,345,047$1,429.661.87%$1,589.423.84%$2,278.5312.21%
10San Jose, CA1,030,119$2,409.52-11.55%$2,863.85-10.54%$3,456.45-7.41%
11Austin, TX964,254$1,289.364.53%$1,511.213.98%$1,737.98-7.55%
12Jacksonville, FL903,889$723.08-14.39%$1,097.24-6.30%$1,294.53-5.93%
13Fort Worth, TX895,008$1,353.654.90%$1,289.02-5.81%$1,570.22-7.49%
14Columbus, OH892,533$1,138.4022.96%$1,130.4312.84%$1,346.1513.95%
15San Francisco, CA883,305$3,408.63-16.56%$3,899.85-8.86%$5,158.25-10.22%
16Charlotte, NC872,498$1,368.732.89%$1,322.65-5.83%$1,596.86-4.75%
17Indianapolis, IN867,125$1,035.76-5.92%$1,131.608.96%$1,407.2016.97%
18Seattle, WA744,955$1,732.677.90%$2,495.28-3.06%$3,996.71-3.73%
19Denver, CO716,492$1,599.01-8.70%$1,925.55-3.58%$2,532.71-11.70%
20Washington, DC702,455$2,020.33-6.68%$2,729.08-1.17%$3,574.72-4.52%
21Boston, MA694,583$2,950.18-6.31%$3,818.74-1.35%$5,473.59-4.91%
22El Paso, TX682,669$644.9114.45%$892.465.91%$1,050.116.12%
23Detroit, MI672,662N/AN/A$1,494.56-9.55%$1,720.47-14.36%
24Nashville, TN669,053$1,880.3516.81%$1,779.330.75%$2,243.33-0.49%
25Portland, OR653,115$1,432.66-6.15%$1,803.48-12.50%$2,379.98-8.16%
26Memphis, TN650,618$1,026.105.73%$955.466.08%$1,067.8212.97%
27Oklahoma City, OK649,021$735.102.24%$781.51-11.71%$988.45-3.01%
28Las Vegas, NV644,644$829.5325.96%$1,174.3216.19%$1,446.7222.01%
29Louisville, KY620,118$931.43-10.12%$1,060.34-9.32%$1,185.29-14.14%
30Baltimore, MD602,495$1,331.88-3.83%$1,601.52-9.89%$1,692.96-14.41%
31Milwaukee, WI592,025$1,209.68-10.91%$1,280.39-9.61%$1,717.7415.71%
32Albuquerque, NM560,218$697.2813.93%$933.7720.08%$1,112.8820.33%
33Tucson, AZ545,975$700.619.43%$824.352.11%$1,057.414.23%
34Fresno, CA530,093N/AN/A$1,133.89-14.33%$1,093.46-26.41%
35Mesa, AZ508,958$890.224.06%$1,035.18-3.02%$1,314.77-2.32%
36Sacramento, CA508,529$2,255.4249.30%$2,262.8540.30%$2,315.2821.97%
37Atlanta, GA498,044$1,618.48-4.29%$1,642.91-2.54%$2,146.70-0.54%
38Kansas City, MO491,918$1,038.45-5.35%$1,222.73-8.60%$1,527.92-7.91%
39Colorado Springs, CO472,688N/AN/A$1,346.1412.92%$1,643.0313.19%
40Miami, FL470,914$1,856.83-3.32%$2,412.38-3.37%$2,941.432.35%
41Raleigh, NC469,298$1,391.169.55%$1,196.58-6.82%$1,260.83-13.02%
42Omaha, NE468,262$806.624.02%$944.970.73%$1,140.34-5.48%
43Long Beach, CA467,354$2,232.260.27%$1,907.99-24.07%$2,295.22-31.54%
44Virginia Beach, VA450,189$1,174.43-0.37%$1,322.6214.35%$1,437.7913.61%
45Oakland, CA429,082$3,137.449.32%$3,246.42-0.07%$4,121.04-2.35%
46Minneapolis, MN425,403$1,268.640.15%$1,459.43-2.70%$1,995.30-13.82%
47Tulsa, OK400,669N/AN/A$659.00-2.95%$862.23-2.54%
48Arlington, TX398,112N/AN/A$1,060.384.72%$1,302.67-15.02%
49Tampa, FL392,890$1,368.40-11.46%$1,370.02-8.31%$1,760.11-5.14%
50New Orleans, LA391,006$1,228.27-1.22%$1,544.52-3.21%$2,193.908.96%
51Wichita, KS389,255$848.5026.56%$889.7914.43%$621.72-29.06%
52Cleveland, OH383,793$994.66-0.14%$1,335.00-7.04%$1,776.77-15.68%
53Bakersfield, CA383,579N/AN/AN/AN/AN/AN/A
54Aurora, CO374,114N/AN/A$1,427.76-5.03%$1,685.35-7.75%
55Anaheim, CA352,005$1,851.826.22%$2,187.134.18%$2,536.381.27%
56Honolulu, HI347,397N/AN/AN/AN/AN/AN/A
57Santa Ana, CA332,725$1,799.5514.00%$1,873.04-2.59%$2,326.68-8.58%
58Riverside, CA330,063N/AN/A$1,793.015.56%$2,114.541.52%
59Corpus Christi, TX326,554N/AN/A$941.05-1.89%$1,178.45-1.65%
60Lexington, KY323,780$797.56-0.47%$911.74-0.93%$1,065.79-10.32%
61Stockton, CA311,178N/AN/AN/AN/AN/AN/A
62Henderson, NV310,390$1,255.23-16.19%$1,359.32-4.57%$1,479.35-2.31%
63St. Paul, MN307,695$1,250.821.56%$1,454.429.19%$1,914.934.32%
64St. Louis, MO302,838$1,251.3516.14%$1,856.0944.90%$2,185.3945.45%
65Cincinnati, OH302,605$907.530.08%$1,100.13-3.10%$1,471.03-0.54%
66Pittsburgh, PA301,048$1,263.126.70%$1,523.842.64%$1,722.71-8.47%
67Greensboro, NC294,722$650.281.67%$832.750.82%$1,126.1118.62%
68Anchorage, AK291,538N/AN/AN/AN/AN/AN/A
69Plano, TX288,061$1,301.41-8.95%$1,505.046.22%$2,009.147.45%
70Lincoln, NE287,401$860.185.84%$1,093.4816.29%$1,264.4015.39%
71Orlando, FL285,713$1,399.83-10.31%$1,489.29-4.00%$1,782.27-6.39%
72Irvine, CA282,572$2,094.86-17.53%$2,262.15-16.46%$2,725.58-15.98%
73Newark, NJ282,090$1,719.19-11.68%$1,984.78-14.58%$2,619.02-6.22%
74Toledo, OH274,975N/AN/A$819.729.97%$890.21-4.16%
75Durham, NC274,291$1,388.81-0.21%$1,267.71-4.15%$1,577.94-5.78%
76Chula Vista, CA271,651$1,835.6910.95%$2,113.941.19%$2,709.10-2.56%
77Fort Wayne, IN267,633$730.70N/A$864.067.73%$1,013.62-8.57%
78Jersey City, NJ265,549$2,497.541.46%$2,971.730.20%$4,054.272.66%
79St. Petersburg, FL265,098$1,422.160.66%$1,633.1815.90%$1,910.537.80%
80Laredo, TX261,639N/AN/AN/AN/AN/AN/A
81Madison, WI258,054$1,187.2913.92%$1,233.19-0.19%$1,669.524.99%
82Chandler, AZ257,165N/AN/A$1,336.48-5.29%$1,583.57-4.96%
83Buffalo, NY256,304N/AN/AN/AN/A$1,479.241.74%
84Lubbock, TX255,885N/AN/A$719.36-0.53%$934.002.65%
85Scottsdale, AZ255,310$1,620.6826.27%$1,843.5510.52%$2,170.92-10.66%
86Reno, NV250,998$1,040.4445.64%$1,338.58-7.22%$1,687.13-3.24%
87Glendale, AZ250,702N/AN/A$1,125.93-3.40%$1,601.4310.30%
88Gilbert, AZ248,279N/AN/A$1,223.742.61%$1,487.462.72%
89Winston-Salem, NC246,328N/AN/A$830.08-8.77%$986.942.64%
90North Las Vegas, NV245,949N/AN/AN/AN/A$1,132.5711.16%
91Norfolk, VA244,076N/AN/A$1,257.20-5.19%$1,411.13-8.24%
92Chesapeake, VA242,634N/AN/AN/AN/A$1,417.352.83%
93Garland, TX242,507N/AN/A$1,114.388.49%$1,518.02-1.42%
94Irving, TX242,242$1,863.7622.78%$1,474.503.70%$1,751.983.43%
95Hialeah, FL238,942N/AN/AN/AN/AN/AN/A
96Fremont, CA237,807N/AN/A$2,485.834.62%$3,008.511.91%
97Boise, ID228,790N/AN/A$1,251.121.39%$1,368.73-2.18%
98Richmond, VA228,783$1,069.801.53%$1,156.825.14%$1,487.0612.11%
99Baton Rouge, LA221,599$1,007.00-1.65%$966.00-7.60%$1,086.29-11.73%
100Spokane, WA219,190N/AN/A$1,136.55-18.86%$1,332.27-6.76%

The rent information included in this article is based on multifamily rental property inventory on Apartment Guide and Rent.com and is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

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