The District of Columbia is the most expensive U.S. state for studio apartments, with monthly rents nearly *** U.S. dollars higher than in Hawaii. As of February 2021, renters in District of Columbia paid on average ***** U.S. dollars monthly for a studio apartment. In comparison, studios in Arkansas were approximately three times more affordable.

Between 2020 and 2021, the average monthly rent in the U.S. saw an overall increase. Nevertheless, this was not the case in some states that experienced dramatic negative rental growth.

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 keep rental prices increasing. Renting in European cities In 2025, Munich was the most expensive city to rent a furnished studio among the 23 cities surveyed. At ***** euros per month, renting a studio in Munich cost nearly twice the price of a studio in Athens. For one-bedroom apartments or a furnished private room, the most expensive city was Amsterdam. Homeownership in Europe In many European countries owning your home is more commonplace than renting – for instance, in Romania, the homeownership rate is over ** percent. In the UK, affordability of housing is one of the leading housing concerns, with the majority of adults agreeing that first-time buyers getting on a property ladder is a very or somewhat serious problem.

In 2024, New York, NY, was the most expensive rental market for one-bedroom apartments in the United States. The median monthly rental rate of an apartment in New York was ***** U.S. dollars, while in San Francisco, CA which ranked second highest, renters paid on average ***** U.S. dollars.

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 April 2025, the monthly rent for a two-bedroom apartment amounting 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, 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 April 2025. In West Virginia, the annual rental growth was the highest, at ***** percent.

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.

Virginia (VA) has the 19th highest rent in the country out of 56 states and territories. The Fair Market Rent in Virginia ranges from $701 for a 2-bedroom apartment in Grayson County, VA to $1,765 for a 2-bedroom unit in Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area.

For FY 2024, the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area (Arlington County) rent for a studio or efficiency is $1,772 per month and $3,015 per month to rent a house or an apartment with 4 bedrooms. The average Fair Market Rent for a 2-bedroom home in Virginia is $1,056 per month.

Approximately 15% of Americans qualify for some level of housing assistance. The population in Virginia is around 2,038,847 people. So, there are around 305,827 people in Virginia who could be receiving housing benefits from the HUD. For FY 2025, the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area (Arlington County) rent for a studio or efficiency is $2,012 per month and $3,413 per month to rent a house or an apartment with 4 bedrooms. The average Fair Market Rent for a 2-bedroom home in Virginia is $1,059 per month.

Revenue for Canadian apartment lessors has gained through the end of 2025. Apartment lessors collect rental income from rental properties, so market forces largely determine their rates. The supply of apartment rentals has grown slower than demand, which has elevated rental rates for lessors' benefit. Favourable economic conditions and demographic trends during most of the period have driven growth in demand. In 2020, the spread of COVID-19 lessened demand for apartment rentals, but the nature of apartment leases prevented a dip in revenue until 2021. Revenue has climbed since 2022 as higher prices and strong demand have fuelled a robust rental market. Revenue has climbed at a CAGR of 1.7% over the past five years and will reach $67.6 billion through the end of 2025. This includes a 1.6% swell in 2025 alone. Climbing vacancies fueled by a historic increase in rental supply will limit rent growth in 2025. The urban population in Canada has continued to expand, fuelling demand for housing in recent years. The supply of apartment rental units has lagged behind demand growth, reflected in low vacancy rates across Canada. Major urban centres have had especially low vacancy rates in recent years. Disposable income has also grown despite significant economic volatility. This has given individuals more funds to cover living expenses, which has enabled lessors to raise rental rates. Despite skyrocketing rental prices, profit has declined because of rising operating costs and property taxes. Favourable macroeconomic conditions are expected to fuel demand for apartment rentals moving forward. Per capita disposable income will climb while vacancy rates remain low. Furthermore, immigration and urbanization growth will fuel rent growth in major cities, benefiting apartment rental providers. Demand will continue to outpace supply growth, prompting a revenue gain. Revenue will expand at a CAGR of 1.3% through the end of 2030, reaching $71.9 billion in 2030.

Amsterdam is set to maintain its position as Europe's most expensive city for apartment rentals in 2025, with median costs reaching 2,500 euros per month for a furnished unit. This figure is double the rent in Prague and significantly higher than other major European capitals like Paris, Berlin, and Madrid. The stark difference in rental costs across European cities reflects broader economic trends, housing policies, and the complex interplay between supply and demand in urban centers. Factors driving rental costs across Europe The disparity in rental prices across European cities can be attributed to various factors. In countries like Switzerland, Germany, and Austria, a higher proportion of the population lives in rental housing. This trend contributes to increased demand and potentially higher living costs in these nations. Conversely, many Eastern and Southern European countries have homeownership rates exceeding 90 percent, which may help keep rental prices lower in those regions. Housing affordability and market dynamics The relationship between housing prices and rental rates varies significantly across Europe. As of 2024, countries like Turkey, Iceland, Portugal, and Hungary had the highest house price to rent ratio indices. This indicates a widening gap between property values and rental costs since 2015. The affordability of homeownership versus renting differs greatly among European nations, with some countries experiencing rapid increases in property values that outpace rental growth. These market dynamics influence rental costs and contribute to the diverse rental landscape observed across European cities.

Youth Apartment Market Outlook

The global youth apartment market size was estimated to be $65 billion in 2023 and is forecasted to reach approximately $108 billion by 2032, growing at a compound annual growth rate (CAGR) of around 5.8%. The primary growth factors driving this market include increasing urbanization, a rising trend of young professionals seeking independent living, and the expanding student population across the globe.

One of the main drivers propelling the youth apartment market is the significant shift in lifestyle preferences among young adults. Millennials and Generation Z are increasingly prioritizing flexibility and mobility, which makes renting an attractive option over purchasing property. This demographic values experiences over ownership, leading to a robust demand for rental housing. Additionally, the global rise in higher education enrollment means more students are moving to urban areas, further boosting the need for youth-specific housing solutions.

The surge in remote working opportunities is another pivotal growth factor for this market. As companies continue to adopt flexible working models, many young professionals are moving to cities that offer a better quality of life and cost of living advantages. This migration is fueling the demand for youth apartments, particularly in tech hubs and cultural capitals. Moreover, the preference for co-living spaces, which offer a sense of community and shared amenities, is becoming increasingly popular among young adults, driving the market further.

Technological advancements in property management and rental services are also playing a crucial role in market growth. The advent of mobile applications and online platforms has simplified the process of finding and renting apartments, making it easier for young adults to move between apartments and cities. These platforms often provide virtual tours and comprehensive reviews, helping tenants make informed decisions. The integration of smart home technologies in youth apartments is also becoming a selling point, appealing to the tech-savvy younger generation.

Regionally, the Asia Pacific market is poised for significant growth, driven by rapid urbanization and a burgeoning student population, particularly in countries like China and India. North America and Europe also present substantial opportunities due to their large student populations and the rising trend of young professionals seeking rental accommodations. In contrast, regions like Latin America and the Middle East & Africa show moderate growth potential, but increasing investments in infrastructure and education could change this trajectory in the coming years.

Type Analysis

Studio apartments constitute a significant segment within the youth apartment market. These units are particularly popular among young professionals and students who prioritize affordability and efficient use of space. Studio apartments typically consist of a single room that serves as the living, dining, and sleeping area, along with a separate bathroom. The cost-effectiveness and minimalistic lifestyle associated with studio apartments appeal to the younger demographic, who often prioritize location and accessibility over space. In urban settings where real estate prices are high, studio apartments offer a practical solution for independent living without the burden of high rent.

One-bedroom apartments are another crucial segment in this market, offering slightly more space and privacy compared to studio apartments. These units usually feature a separate bedroom, living area, kitchen, and bathroom. The additional space makes one-bedroom apartments an attractive option for young couples or single professionals who prefer a bit more room. The demand for one-bedroom apartments is particularly high in metropolitan areas where young professionals seek a balance between cost and comfort. This segment is also growing due to the increasing trend of remote work, as individuals seek dedicated spaces for both living and working.

Shared apartments or co-living spaces are gaining significant traction among the youth segment. These setups involve multiple tenants sharing a larger apartment or house, often with private bedrooms and communal living areas, kitchens, and bathrooms. Shared apartments offer a blend of affordability and community living, making them popular among students and young professionals new to a city. The social aspect of co-living, combined with the cost benefits of shared rent and utilities, drives this market segment. Operators of co-living spaces often include ad

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 ...).

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.

BR: FipeZap: House Asking Price Index: Rent: São Paulo: 1 Bedroom data was reported at 248.396 2010=100 in Mar 2025. This records an increase from the previous number of 245.521 2010=100 for Feb 2025. BR: FipeZap: House Asking Price Index: Rent: São Paulo: 1 Bedroom data is updated monthly, averaging 144.731 2010=100 from Jan 2008 (Median) to Mar 2025, with 207 observations. The data reached an all-time high of 248.396 2010=100 in Mar 2025 and a record low of 69.277 2010=100 in Jan 2008. BR: FipeZap: House Asking Price Index: Rent: São Paulo: 1 Bedroom data remains active status in CEIC and is reported by Institute of Economic Research Foundation. The data is categorized under Global Database’s Brazil – Table BR.RKB005: Real Estate: FipeZap House Asking Price Index: Rent. The FipeZap Index uses announcements of sale or rental of apartments ready registered in many websites as data sources.

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.

BR: FipeZap: House Asking Price Index: Rent: MoM: São Paulo: 1 Bedroom data was reported at 1.171 % in Mar 2025. This records a decrease from the previous number of 1.328 % for Feb 2025. BR: FipeZap: House Asking Price Index: Rent: MoM: São Paulo: 1 Bedroom data is updated monthly, averaging 0.601 % from Feb 2008 (Median) to Mar 2025, with 206 observations. The data reached an all-time high of 8.583 % in Mar 2008 and a record low of -1.604 % in Jan 2010. BR: FipeZap: House Asking Price Index: Rent: MoM: São Paulo: 1 Bedroom data remains active status in CEIC and is reported by Institute of Economic Research Foundation. The data is categorized under Global Database’s Brazil – Table BR.RKB006: Real Estate: FipeZap House Asking Price Index: Rent: Month-on-Month. The FipeZap Index uses announcements of sale or rental of apartments ready registered in many websites as data sources.

BR: FipeZap: House Asking Price Index: Rent: Rio de Janeiro: 1 Bedroom data was reported at 246.678 2010=100 in Mar 2025. This records an increase from the previous number of 241.883 2010=100 for Feb 2025. BR: FipeZap: House Asking Price Index: Rent: Rio de Janeiro: 1 Bedroom data is updated monthly, averaging 151.143 2010=100 from Jan 2008 (Median) to Mar 2025, with 207 observations. The data reached an all-time high of 246.678 2010=100 in Mar 2025 and a record low of 65.125 2010=100 in Aug 2008. BR: FipeZap: House Asking Price Index: Rent: Rio de Janeiro: 1 Bedroom data remains active status in CEIC and is reported by Institute of Economic Research Foundation. The data is categorized under Global Database’s Brazil – Table BR.RKB005: Real Estate: FipeZap House Asking Price Index: Rent. The FipeZap Index uses announcements of sale or rental of apartments ready registered in many websites as data sources.

What is Rental Data?

Rental data encompasses detailed information about residential rental properties, including single-family homes, multifamily units, and large apartment complexes. This data often includes key metrics such as rental prices, occupancy rates, property amenities, and detailed property descriptions. Advanced rental datasets integrate listings directly sourced from property management software systems, ensuring real-time accuracy and eliminating reliance on outdated or scraped information.

Additional Rental Data Details

The rental data is sourced from over 20,000 property managers via direct feeds and property management platforms, covering over 30 percent of the national rental housing market for diverse and broad representation. Real-time updates ensure data remains current, while verified listings enhance accuracy, avoiding errors typical of survey-based or scraped datasets. The dataset includes 14+ million rental units with detailed descriptions, rich photography, and amenities, offering address-level granularity for precise market analysis. Its extensive coverage of small multifamily and single-family rentals sets it apart from competitors focused on premium multifamily properties.

Rental Data Includes:

• Property Types
• Single-Family Rentals
• Small Multi-family Units
• Premium Apartments
• 16,000+ ZIP Codes
• 800+ MSAs
• Pricing Trends
• Lease Terms Amenities

BR: FipeZap: House Asking Price Index: Rent: YoY: Rio de Janeiro: 1 Bedroom data was reported at 11.526 % in Mar 2025. This records an increase from the previous number of 9.995 % for Feb 2025. BR: FipeZap: House Asking Price Index: Rent: YoY: Rio de Janeiro: 1 Bedroom data is updated monthly, averaging 7.824 % from Jan 2009 (Median) to Mar 2025, with 195 observations. The data reached an all-time high of 42.147 % in Jan 2011 and a record low of -10.512 % in Nov 2017. BR: FipeZap: House Asking Price Index: Rent: YoY: Rio de Janeiro: 1 Bedroom data remains active status in CEIC and is reported by Institute of Economic Research Foundation. The data is categorized under Global Database’s Brazil – Table BR.RKB007: Real Estate: FipeZap House Asking Price Index: Rent: Year-on-Year. The FipeZap Index uses announcements of sale or rental of apartments ready registered in many websites as data sources.

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.).

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.

BR: FipeZap: House Asking Price Index: Rent: YoY: São Paulo: 1 Bedroom data was reported at 12.382 % in Mar 2025. This records a decrease from the previous number of 12.688 % for Feb 2025. BR: FipeZap: House Asking Price Index: Rent: YoY: São Paulo: 1 Bedroom data is updated monthly, averaging 6.561 % from Jan 2009 (Median) to Mar 2025, with 195 observations. The data reached an all-time high of 32.519 % in Jan 2009 and a record low of -8.399 % in Jul 2021. BR: FipeZap: House Asking Price Index: Rent: YoY: São Paulo: 1 Bedroom data remains active status in CEIC and is reported by Institute of Economic Research Foundation. The data is categorized under Global Database’s Brazil – Table BR.RKB007: Real Estate: FipeZap House Asking Price Index: Rent: Year-on-Year. The FipeZap Index uses announcements of sale or rental of apartments ready registered in many websites as data sources.