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.

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 rent for a one-bedroom apartment in Tokyo, Japan, was approximately ***** U.S. dollars per month. In comparison, the average monthly rent for a one-bedroom apartment in Shanghai, China, was approximately *** U.S. dollars.

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.

The monthly median asking rent for unfurnished apartments in the United States in the first quarter of 2025 amounted to ***** U.S. dollars. This was an increase of about *** U.S. dollars in just five years. In 2020, the median rent stood at ***** U.S. dollars. The U.S. rental market As rental apartment vacancy rates fall, rents are on the rise. This makes it more difficult for Americans to, first, find an apartment to rent, and second, find an apartment which they can afford. Nevertheless, renting has become much more common in recent years, with the number of renter households having substantially increased in the past two decades. In 2025, there were approximately **** million renter households in the U.S. Rents in different states Of course, rents vary from state to state. The most expensive rents are found in Hawaii, California, District of Colombia, New Jersey, and Florida. Following the COVID-19 pandemic, growth was the strongest in the Sun Belt states, and especially in states with lower costs of living, such as Texas. In Austin, TX, the average rent soared by nearly ** percent in 2021, and remained elevated, despite a slight decline in 2023.

The monthly median asking rent for unfurnished apartments in the United States in the first quarter of 2025 amounted to 1,920 U.S. dollars. This was an increase of about 300 U.S. dollars in just five years. In 2020, the median rent stood at 1,611 U.S. dollars. The U.S. rental market As rental apartment vacancy rates fall, rents are on the rise. This makes it more difficult for Americans to, first, find an apartment to rent, and second, find an apartment which they can afford. Nevertheless, renting has become much more common in recent years, with the number of renter households having substantially increased in the past two decades. In 2025, there were approximately 45.5 million renter households in the U.S. Rents in different states Of course, rents vary from state to state. The most expensive rents are found in Hawaii, California, District of Colombia, New Jersey, and Florida. Following the COVID-19 pandemic, growth was the strongest in the Sun Belt states, and especially in states with lower costs of living, such as Texas. In Austin, TX, the average rent soared by nearly 26 percent in 2021, and remained elevated, despite a slight decline in 2023.

The median rent for one- and two-bedroom apartments in Chicago, Illinois, amounted to about 1,663 U.S. dollars in January 2025. Rents soared during the COVID-19 pandemic, with February 2022 experiencing the highest year-on-year increase of nearly 16 percent. Growth has since mellowed, with the average rental increase amounting to 1.7 percent in January 2025. Among the different states, Illinois ranked alongside Texas, South Carolina, and Pennsylvania in terms of rental costs.

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.

As of January 2025, the rent for a two-bedroom apartment in Hawaii was about *** U.S. dollars higher than in California. The states of Hawaii and California ranked as the most expensive within the United States for apartment renters. Conversely, an apartment in Arkansas was almost ***** times more affordable than one in Hawaii.In 2025, the average monthly rent in the U.S. declined slightly. Nevertheless, in rents increased in most states, with West Virginia registering the highest growth.

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.

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.

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.

Single-family houses and apartments in large residential buildings with five or more units were the most popular structure type for American renters in 2023. About 39 percent of the population who lived in rental accommodation occupied an apartment in a multifamily building. The share of households renting such apartments was even higher, at about 47 percent. In 2023, the average asking rent for an unfurnished apartment in the U.S. declined slightly, after surging for three years in a row.

The median rent for one- and two-bedroom apartments in Phoenix, Arizona, amounted to about 1,308 U.S. dollars in January 2025. Rents soared during the COVID-19 pandemic, hitting a year-on-year growth of 29 percent in October 2021. This trend reversed in November 2022 and in January 2025, the year-on-year decline was 3.3 percent. Among the different states in the U.S., Arizona ranks as one of the mid-priced rental markets in 2023.

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.

View quarterly updates and historical trends for US Rental Vacancy Rate. from United States. Source: Census Bureau. Track economic data with YCharts analy…

The median rent for one- and two-bedroom apartments in Dallas, Texas, amounted to ***** U.S. dollars by the end of 2023. Rents decreased slightly after the start of the coronavirus pandemic, but this trend quickly reversed, in April 2022, the annual rental growth reached its peak at around ** percent. Among the different states in the U.S., Texas ranks as one of the mid-price range rental markets.

The median monthly apartment rental rate for a one bedroom apartment in San Francisco Bay Area was the highest in Mountain View as of May 2023, at nearly ***** U.S. dollars. The median monthly rent for a one bedroom apartment in Vallejo, on the other hand, was aproximately ***** U.S. dollars per month.

The monthly rent of mobile homes in the U.S. has gradually increased since 2010, peaking in 2024. In the third quarter of that year, the average monthly rent for manufactured homes was 717 U.S. dollars. Similarly, apartment rents also soared in 2022, followed by a slight decline in the next two years. Where in the U.S. are manufactured homes most popular? States with a growing economy and large population provide the best opportunities for manufactured housing. In September 2023, Texas had the highest number of mobile homes in the United States. Other states with a high number of mobile homes were North Carolina and Florida. Moreover, Texas also boasted the highest number of manufactured home production plants. Affordability of mobile homes across the U.S. Manufactured homes are considerably less expensive than regular homes, which makes them an attractive option for people looking to purchase property without breaking the bank. Mobile homes are cheaper because manufacturers benefit from economies of scale due to large-scale production, which allows them to lower costs per unit. Additionally, mobile homes lose value faster than traditional homes, which can make them more affordable to purchase initially. The average sales price for a new mobile home has been on the rise, but during the housing boom in 2021, it increased dramatically.

The median rent for one- and two-bedroom apartments in Austin, Texas, amounted to ***** U.S. dollars by the end of April 2025. Prices increased slightly after the start of the coronavirus pandemic, but in November 2021, rents surged by almost ** percent. Finally, in April 2025, the rental growth rate experienced a decrease of **** percent. Among the different states in the U.S., Texas ranks as one of the mid-price range rental markets.