National Rental Price Index
Nationwide, rent growth has begun to pick back up. From June to July, rents grew by 0.3%, resulting in national median rent prices of $1,300 for a 2-bedroom and $1,120 for a 1-bed.
The 10 Cities With the Highest Rents
Rents in coastal cities continue to be the nation’s most expensive, with New York City and San Francisco boasting the highest rents in the nation.
- New York: New York CIty has beat out San Francisco as the nation’s most expensive city for renters. Median rent prices here are at a whopping $5,130 for a 2-bedroom and $3,510 for a 1-bed. Rents here have increased by 1.6% over the past month.
- San Francisco: With rents continuing their month-to-month decrease, San Francisco has fallen to be the second most expensive city for renters in the United States. Rents here fell by 0.1% from June to July, and median prices are now at $4,730 for a 2-bedroom and $3,520 for a 1-bed.
- Boston: Rents in Boston experienced significant growth in the past month (increasing by 2.9%), making this historical city the 4th most expensive in the nation. Median prices are at $3,190 for a 2-bedroom and $2,850 for a 1-bed.
Notable cities from the interior that barely missed the cut include Denver (#14), Atlanta (#19), and Chicago (#20). See prices and rent growth for 100 cities in the table below.
The 10 Cities With the Fastest Growing Rents
- Colorado Springs, CO: Colorado Springs claims the highest average rent increases over last year, averaging a 10.4% rent growth since July 2015. 2-bedrooms here have a median rent rate of $1,000 while 1-bedrooms are at $750.
- Seattle, WA: Seattle has the second-fastest growing rents in the United States, having experienced an 8.4% growth over last year. Median rent prices here are at $2,300 for a 2-bedroom and $1,770 for a 1-bed.
- Reno, NV: Reno takes 3rd place for fastest-growing rents. It falls just barely behind Seattle’s growth, with rents 8.3% higher than last year. 2-bedrooms go for $940 while 1-bedrooms go for $700.
Please see additional data for 100 cities below, or check out the full data for your city or county at our rental data page. And as always, feel free to contact us with any questions!