The median monthly rent for all apartment types in the U.S. has stabilized since 2022, despite some seasonal fluctuations. In August 2025, the monthly rent for a two-bedroom apartment amounted to ***** U.S. dollars. That was an increase from ***** U.S. dollars in January 2021, but a decline from the peak value of ***** 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 ** U.S. dollars. This 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 2025, 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 August 2025. In West Virginia, the annual rental growth was the highest, at ***** 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 Aug 2025 about primary, rent, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

Apartment rents in two states and the District of Columbia in the U.S. exceeded ***** U.S. dollars in April 2025. In Hawaii, the median rent was about ***** U.S. dollars, nearly *** U.S. dollars higher than the national average. At the other end of the spectrum was Nebraska, where renters paid about ***** U.S. dollars for the median new lease. Overall, most states saw rental rates increase year-on-year.

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 ***** U.S. dollars, up from ***** U.S. dollars in December 2020 before rents started to rise. Nevertheless, not all cities saw rents rise at the same pace.

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

In 2025, the average monthly rent affordable to a family of four with a household income at the poverty line was 804 U.S. dollars. However, the average fair market rent for a two-bedroom rental home was 1,749 U.S. dollars per month in that year.

Rents in California's most populous cities briefly decreased in 2020, but swiftly headed for recovery in the following year. In San Jose, the average rent amounted to ***** U.S. dollars in May 2024, higher than the previous peak of ***** U.S. dollars in August 2019. In May 2024, the average monthly rent of a two-bedroom apartment in California was close to ***** U.S. dollars.

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.

Price to Rent Ratio in the United States increased to 134.20 in the fourth quarter of 2024 from 133.60 in the third quarter of 2024. This dataset includes a chart with historical data for the United States Price to Rent Ratio.

Rent Inflation in the United States decreased to 3.60 percent in August from 3.70 percent in July of 2025. This dataset includes a chart with historical data for the United States Rent Inflation.

The average monthly rent of apartments in Florida's biggest cities has increased substantially since 2020. In April 2024, the average rent in Miami-Fort Lauderdale-Pompano Beach, Florida was 1,895 U.S. dollars, which was an increase of approximately 400 U.S. dollars from September 2020.

The average monthly rent in California for a two-bedroom apartment was ***** U.S. dollars in 2025, while a one-bedroom unit cost ******U.S. dollars. Only renters who earn the area median income (AMI) can afford two-bedroom housing in California. Rent affordable to renters with full-time jobs at mean renter wage, or 30 percent area median income, was lower than the fair market rent of a two-bedroom and one-bedroom apartment in California, making this housing in this state not affordable for them. The rent in California ranked highest among all other states in the United States for a two bedroom apartment in 2025.

Graph and download economic data for Rental Vacancy Rate in the United States (RRVRUSQ156N) from Q1 1956 to Q2 2025 about vacancy, rent, rate, and USA.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Owners' Equivalent Rent of Residences in U.S. City Average (CUSR0000SEHC) from Jan 1983 to Aug 2025 about rent, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Rent of Shelter in U.S. City Average (CUSR0000SAS2RS) from Jan 1990 to Aug 2025 about shelter, rent, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

The fair market monthly rent in Florida for a two-bedroom apartment was 1,938 U.S. dollars in 2025. Only renters who earn the area median income (AMI) can afford this housing in Florida. Rent affordable to renters with full-time jobs at mean renter wage or 30 percent area median income was lower than the fair market rent of a two-bedroom apartment and one-bedroom apartment in Florida, making housing in this state not affordable for them. The rent in Florida ranks ninth among all other states in the United States for a two bedroom apartment.

The fair market monthly rent in Florida for a two-bedroom apartment was ******U.S. dollars in 2025. Only renters who earn the area median income (AMI) can afford this housing in Florida. Rent affordable to renters with full-time jobs at mean renter wage or 30 percent area median income was lower than the fair market rent of a two-bedroom apartment and one-bedroom apartment in Florida, making housing in this state not affordable for them. The rent in Florida ranks ******among all other states in the United States for a two bedroom apartment.

In 2025, the average monthly rent affordable to a family of four with a household income at the poverty line was 804 U.S. dollars. However, the average fair market rent for a two-bedroom rental home was 1,749 U.S. dollars per month in that year.

VITAL SIGNS INDICATOR Rent Payments (EC8)

FULL MEASURE NAME Median rent payment

LAST UPDATED August 2019

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 1970-2000 https://nhgis.org Note: Count 1 and Count 2; Form STF1; Form SF3a

U.S. Census Bureau: American Community Survey 2005-2017 http://api.census.gov Note: Form B25058; 1-YR

Bureau of Labor Statistics: Consumer Price Index 1970-2017 http://www.bls.gov/data/ Note: All Urban Consumers Data Table (by metro)

CONTACT INFORMATION vitalsigns.info@bayareametro.gov

METHODOLOGY NOTES (across all datasets for this indicator) Rent data reflects median rent payments rather than list rents (refer to measure definition above). Larger geographies (metro and county) rely upon ACS 1-year data, while smaller geographies rely upon ACS 5-year rolling average data. 1970 Census data for median rent payments has been imputed by ABAG staff 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 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.

High-end, or luxury apartments, are usually larger, situated in desirable locations, and provide various amenities, such as sporting facilities, recreational areas, and in-building services. In Fresno, California, which was one of the 30 best large cities for renting a luxury apartment according to the source, the average monthly rent of a high-end apartment was 1,588 U.S. dollars as of February 2021.