The average monthly rent for all apartment types in the U.S. soared in 2021 and 2022, followed by a slight decline in the next two years. In January 2025, the monthly rent for a two-bedroom apartment amounting to 1,356 U.S. dollars. That was an increase from 1,136 U.S. dollars in January 2021 but a decline from the peak value of 1,427 U.S. dollars in August 2022. Where are the most expensive apartments in the U.S.? Apartment rents vary widely from state to state. To afford a two-bedroom apartment in California, for example, a renter needed to earn an average hourly wage of nearly 42 U.S. dollars, which was approximately double the average wage in North Carolina and three times as much as the average wage in Arkansas. In fact, rental costs were considerably higher than the hourly minimum wage in all U.S. states. How did rents change in different states in the U.S.? In 2024, some of the most expensive states to rent an apartment only saw a moderate increase in rental prices. Nevertheless, rents increased in most states as of January 2025. In West Virginia, the annual rental growth was the highest, at seven percent.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Rent of Primary Residence in U.S. City Average (CUSR0000SEHA) from Jan 1981 to Feb 2025 about primary, rent, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

The average monthly rent of apartments in Florida increased substantially in 2021, followed by two years of slight decrease. As of May 2024, the average rent of a two-bedroom apartment in Florida cost 1,557 U.S. dollars, which was an increase of 400 U.S. dollars from May 2020 when prices started to rise.

Apartment rents in two states and the District of Columbia in the U.S. exceeded 2,000 U.S. dollars in December 2023. In Hawaii, the median rent was about 2,200 U.S. dollars, more than 800 U.S. dollars higher than the national average. At the other end of the spectrum was Nebraska, when renters paid about 1,100 U.S. dollars for the median new lease. Overall, most states saw rental rates increase year-on-year.

VITAL SIGNS INDICATOR List Rents (EC9)

FULL MEASURE NAME List Rents

LAST UPDATED October 2016

DESCRIPTION List rent refers to the advertised rents for available rental housing and serves as a measure of housing costs for new households moving into a neighborhood, city, county or region.

DATA SOURCE real Answers (1994 – 2015) no link

Zillow Metro Median Listing Price All Homes (2010-2016) http://www.zillow.com/research/data/

CONTACT INFORMATION vitalsigns.info@mtc.ca.gov

METHODOLOGY NOTES (across all datasets for this indicator) List rents data reflects median rent prices advertised for available apartments rather than median rent payments; more information is available in the indicator definition above. Regional and local geographies rely on data collected by real Answers, a research organization and database publisher specializing in the multifamily housing market. real Answers focuses on collecting longitudinal data for individual rental properties through quarterly surveys. For the Bay Area, their database is comprised of properties with 40 to 3,000+ housing units. Median list prices most likely have an upward bias due to the exclusion of smaller properties. The bias may be most extreme in geographies where large rental properties represent a small portion of the overall rental market. A map of the individual properties surveyed is included in the Local Focus section.

Individual properties surveyed provided lower- and upper-bound ranges for the various types of housing available (studio, 1 bedroom, 2 bedroom, etc.). Median lower- and upper-bound prices are determined across all housing types for the regional and county geographies. The median list price represented in Vital Signs is the average of the median lower- and upper-bound prices for the region and counties. Median upper-bound prices are determined across all housing types for the city geographies. The median list price represented in Vital Signs is the median upper-bound price for cities. For simplicity, only the mean list rent is displayed for the individual properties. The metro areas geography rely upon Zillow data, which is the median price for rentals listed through www.zillow.com during the month. Like the real Answers data, Zillow's median list prices most likely have an upward bias since small properties are underrepresented in Zillow's listings. The metro area data for the Bay Area cannot be compared to the regional Bay Area data. Due to afore mentioned data limitations, this data is suitable for analyzing the change in list rents over time but not necessarily comparisons of absolute list rents. Metro area boundaries reflects today’s metro area definitions by county for consistency, rather than historical metro area boundaries.

Due to the limited number of rental properties surveyed, city-level data is unavailable for Atherton, Belvedere, Brisbane, Calistoga, Clayton, Cloverdale, Cotati, Fairfax, Half Moon Bay, Healdsburg, Hillsborough, Los Altos Hills, Monte Sereno, Moranga, Oakley, Orinda, Portola Valley, Rio Vista, Ross, San Anselmo, San Carlos, Saratoga, Sebastopol, Windsor, Woodside, and Yountville.

Inflation-adjusted data are presented to illustrate how rents have grown relative to overall price increases; that said, the use of the Consumer Price Index does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of CPI itself. Percent change in inflation-adjusted median is calculated with respect to the median price from the fourth quarter or December of the base year.

In the first quarter of 2024, Amsterdam was the most expensive city to rent a furnished one-bedroom apartment among the 23 leading European cities surveyed. At 2,300 euros per month, rent in Amsterdam was more than twice as high as in Brussels. Amsterdam was also the most expensive city to rent a private room.One of the main factors driving high rents across European cities is the same as any other consumer-driven business. If demand outweighs supply, prices will inflate. The drive for high paid professionals to be located centrally in prime locations, mixed with the low levels of available space, high land, and construction costs, all help keep rental prices increasing.

Clackamas, Multnomah, and Washington counties as well as Metro-area median studio, 1 bedroom, and 2 bedroom rental prices for 2011 - 2019.Data sourced from https://www.zillow.com/research/data/

The average monthly rent of apartments in California increased substantially 2021, followed by a period of stabilization. In May 2024, the average rent of a two-bedroom apartment cost over 2,200 U.S. dollars, up from 1,849 U.S. dollars in December 2020 before rents started to rise. Nevertheless, not all cities saw rents rise at the same pace.

Israel Rental Prices: Avg data was reported at 4,817.400 ILS in Dec 2024. This records an increase from the previous number of 4,745.100 ILS for Sep 2024. Israel Rental Prices: Avg data is updated quarterly, averaging 4,074.500 ILS from Mar 2017 (Median) to Dec 2024, with 32 observations. The data reached an all-time high of 4,817.400 ILS in Dec 2024 and a record low of 3,684.800 ILS in Mar 2017. Israel Rental Prices: Avg data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Israel – Table IL.EB009: Average Rental Price: Dwellings.

A list of job applications filed for a particular day and associated data. Prior weekly and monthly reports are archived at DOB and are not available on NYC Open Data.

This table contains data described by the following dimensions (Not all combinations are available): Geography (247 items: Carbonear; Newfoundland and Labrador; Corner Brook; Newfoundland and Labrador; Grand Falls-Windsor; Newfoundland and Labrador; Gander; Newfoundland and Labrador ...), Type of structure (4 items: Apartment structures of three units and over; Apartment structures of six units and over; Row and apartment structures of three units and over; Row structures of three units and over ...), Type of unit (4 items: Two bedroom units; Three bedroom units; One bedroom units; Bachelor units ...).

VITAL SIGNS INDICATOR
Rent Payments (EC8)

FULL MEASURE NAME
Median rent payment

LAST UPDATED
January 2023

DESCRIPTION
Rent payments refer to the cost of leasing an apartment or home and serves as a measure of housing costs for individuals who do not own a home. The data reflect the median monthly rent paid by Bay Area households across apartments and homes of various sizes and various levels of quality. This differs from advertised rents for available apartments, which usually are higher. Note that rent can be presented using nominal or real (inflation-adjusted) dollar values; data are presented inflation-adjusted to reflect changes in household purchasing power over time.

DATA SOURCE
U.S. Census Bureau: Decennial Census - https://nhgis.org
Count 2 (1970)
Form STF1 (1980-1990)
Form SF3a (2000)

U.S. Census Bureau: American Community Survey - https://data.census.gov/
Form B25058 (2005-2021; median contract rent)

Bureau of Labor Statistics: Consumer Price Index - https://www.bls.gov/data/
1970-2021

CONTACT INFORMATION
vitalsigns.info@mtc.ca.gov

METHODOLOGY NOTES (across all datasets for this indicator)
Rent data reflects median rent payments rather than list rents (refer to measure definition above). American Community Survey 1-year data is used for larger geographies – Bay counties and most metropolitan area counties – while smaller geographies rely upon 5-year rolling average data due to their smaller sample sizes. Note that 2020 data uses the 5-year estimates because the ACS did not collect 1-year data for 2020.

1970 Census data for median rent payments has been imputed from quintiles using methodology from California Department of Finance as the source data only provided the mean, rather than the median, monthly rent. Metro area boundaries reflects today’s metro area definitions by county for consistency, rather than historical metro area boundaries.

Inflation-adjusted data are presented to illustrate how rent payments have grown relative to overall price increases; that said, the use of the Consumer Price Index (CPI) does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of CPI itself.

Displacement risk indicator classifying census tracts according to apartment rent prices in census tracts. We classify apartment rent along two dimensions:The median rents within the census tract for the specified year, balancing between nominal rental price and rental price per square foot.The change in median rent price (again balanced between nominal rent price and price per square foot) from the previous year.Note: Median rent calculations include market-rate and mixed-income multifamily apartment properties with 5 or more rental units in Seattle, excluding special types like student, senior, corporate or military housing.Source: Data from CoStar Group, www.costar.com, prepared by City of Seattle, Office of Planning and Community Development

Israel Rental Prices: Avg: Ramat Gan data was reported at 5,574.100 ILS in Dec 2024. This records an increase from the previous number of 5,518.900 ILS for Sep 2024. Israel Rental Prices: Avg: Ramat Gan data is updated quarterly, averaging 4,647.550 ILS from Mar 2017 (Median) to Dec 2024, with 32 observations. The data reached an all-time high of 5,574.100 ILS in Dec 2024 and a record low of 4,206.662 ILS in Mar 2017. Israel Rental Prices: Avg: Ramat Gan data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Israel – Table IL.EB009: Average Rental Price: Dwellings.

Rents in Germany continued to increase in all seven major cities in 2024. The average rent per square meter in Munich was approximately 19.8 euros — the highest in the country. Conversely, Düsseldorf had the most affordable rent, at approximately 13.1 euros per square meter. But how does renting compare to buying? According to the house price to rent ratio, house prices in Germany have risen faster than rents, making renting more affordable than buying. Affordability of housing in Germany In 2023, Germany was among the European countries with a relatively high house price to income ratio in Europe. The indicator compares the affordability of housing across OECD countries and is calculated as the nominal house prices divided by nominal disposable income per head, with 2015 chosen as a base year. Between 2012 and 2022, property prices in the country rose much faster than income, with the house price to income index peaking at 138 index points at the beginning of 2022. Slower house price growth in the following years has led to the index declining, as incomes catch up. Nevertheless, homebuyers in 2024 faced significantly higher mortgage interest rates, contributing to a higher final cost. How much does buying a property in Germany cost? Just as with renting, Munich was the most expensive city for newly built apartments. In 2024, the cost per square meter in Munich was almost 2,800 euros pricier than in the runner-up city, Frankfurt. Detached and semi-detached houses are usually more expensive. The price gap between Munich and the second most expensive city, Stuttgart, was nearly 4,000 euros per square meter.

Israel Rental Prices: Avg: Bnei Brak: 2.5 to 3 rooms data was reported at 4,003.700 ILS in Dec 2024. This records an increase from the previous number of 3,995.800 ILS for Sep 2024. Israel Rental Prices: Avg: Bnei Brak: 2.5 to 3 rooms data is updated quarterly, averaging 3,610.350 ILS from Mar 2017 (Median) to Dec 2024, with 32 observations. The data reached an all-time high of 4,003.700 ILS in Dec 2024 and a record low of 3,270.334 ILS in Mar 2017. Israel Rental Prices: Avg: Bnei Brak: 2.5 to 3 rooms data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Israel – Table IL.EB009: Average Rental Price: Dwellings.

RealFacts Report, Market Overview, 2Q2014, 8/25/2014. Includes average asking rent and average occupancy.Average asking rent is average for all (studio, 1 bedroom/1 bathroom, 2 bedroom/1 bathroom, etc.).

The average agreed rent for new tenancies in the UK ranged from 665 British pounds to 2,100 British pounds, depending on the region. On average, renters outside of London paid 1,095 British pounds, whereas in London, this figure amounted to 2,025 British pounds. Rents have been on the rise for many years, but the period after the COVID-19 pandemic accelerated this trend. Since 2015, the average rent in the UK increased by about 25 percent, with about half of that gain achieved in the period after the pandemic. Why have UK rents increased so much? One of the main reasons driving up rental prices is the declining affordability of homeownership. Historically, house prices grew faster than rents, making renting more financially feasible than buying. In 2022, when the house price to rent ratio index peaked, house prices had outgrown rents by nearly 30 percent since 2015. As house prices peaked in 2022, home buying slowed, exacerbating demand for rental properties and leading to soaring rental prices. How expensive is too expensive? Although there is no official requirement about the proportion of income spent on rent for it to be considered affordable, a popular rule is that rent should not exceed more than 30 percent of income. In 2024, most renters in the UK exceeded that threshold, with the southern regions significantly more likely to spend upward of 30 percent of their income on rent. Rental affordability has sparked a move away from the capital to other regions in the UK, such as the South East (Brighton and Southampton), the West Midlands (Birmingham) and the North West (Liverpool, Manchester, Blackpool and Preston).

Israel Rental Prices: Avg: Haifa: 3.5 to 4 rooms data was reported at 3,852.200 ILS in Dec 2024. This records an increase from the previous number of 3,820.600 ILS for Sep 2024. Israel Rental Prices: Avg: Haifa: 3.5 to 4 rooms data is updated quarterly, averaging 3,378.000 ILS from Mar 2017 (Median) to Dec 2024, with 32 observations. The data reached an all-time high of 3,852.200 ILS in Dec 2024 and a record low of 3,118.100 ILS in Jun 2017. Israel Rental Prices: Avg: Haifa: 3.5 to 4 rooms data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Israel – Table IL.EB009: Average Rental Price: Dwellings.

As of October 2024, Cluj-Napoca had the highest rent for one-room apartments, on average, renting a studio apartment costs 400 euros per month. Arad was the most affordable city to live in on the given list — 220 euros per month, even reaching an average of 180 euros in January and February 2024.