ApartmentAdvisor National Rent Report
February 2023
The ApartmentAdvisor National Rent Report is published monthly and includes national rent trend data as well as rent price data by state and by city.
Published March 1
U.S. National Rent Trends
The median national rent for a 1-bedroom rental apartment in the U.S. was $1,475 in February 2023, 1.26% higher than the median national rent for January.
Median Rents
Rent Prices Over Time in the U.S.
Average Rent by City
National median rent prices grew slightly in February, but were holding relatively flat compared to last quarter, continuing an overall deceleration that began last summer. Still, compared to a year ago at this time, apartment prices are sitting much higher. At $1,475, the one-bedroom median rent price is up 5.7% from February 2022, and the two-bedroom median ($1,695) is up 5.9%.
In our ranking of the top ten most expensive rental cities, New York City was still on top as the most expensive market to rent a one-bedroom apartment this month. The median asking rent for a one bedroom there was $3,741 in February, up 2.5% from January and up 23% year-over-year. San Francisco and Boston held their spots at #2 and #3 respectively. Miami jumped back up to its place as the 5th most expensive market, with prices up 4.5% from January. Despite the recent uptick, Miami is among a very short list of cities that have seen rent prices decrease year-over-year. The average price for a one-bedroom apartment in Miami is down 7.7% compared to February 2022. Minneapolis, MN, Las Vegas, NV and Austin, TX also are bucking the national year-over-year rent growth trend.
The top 10 least expensive cities to rent were also the only cities on our list with one-bedroom median rent prices below $1,000 per month in January. However, all but one of these cities (Tucson, AZ) have seen substantial rent increases compared to last year.
Top 10 Most Expensive Cities to Rent an Apartment
Top 10 Least Expensive Cities to Rent an Apartment
Rent Prices in the Top 50 Most Populated Cities
This table shows median rent data for the top 50 most populated cities in the US.
To download this data as a CSV, click .
Average Rent by State
Massachusetts was again the most expensive state to rent a one-bedroom apartment in February, with the median price at $2,485 – up from January by .9% and up 10.4% year-over-year. At $650 per month, West Virginia had the least expensive one-bedroom median rent in February.
Report Methodology
For the February ApartmentAdvisor National Rent Report, ApartmentAdvisor analyzed rental listings available on our platform, calculating median rent prices by unit size and location for every state as well as the top 50 most populated U.S. cities. Listings on ApartmentAdvisor come from both small and large property owners and include luxury and non-luxury rental units. ApartmentAdvisor also tracks more detailed rental price and inventory data for each of the top 50 most populated cities in the United States, updated daily. These can be found on our Market Reports page.
The tables above can be sorted by price by clicking the column headers. Data can also be downloaded as a CSV. If you have questions about our data, or if you have a specific question you would like us to answer, please contact our team at pr@apartmentadvisor.com.
Top metro areas
Atlanta Apartments
741 apartments starting at $550/month
Austin Apartments
933 apartments starting at $625/month
Baltimore Apartments
592 apartments starting at $450/month
Birmingham Apartments
209 apartments starting at $550/month
Boston Apartments
3,322 apartments starting at $700/month
Buffalo Apartments
108 apartments starting at $750/month
Charlotte Apartments
674 apartments starting at $605/month
Chicago Apartments
3,710 apartments starting at $400/month
Cincinnati Apartments
322 apartments starting at $600/month
Cleveland Apartments
440 apartments starting at $499/month
Columbus Apartments
867 apartments starting at $500/month
Dallas Apartments
1,189 apartments starting at $600/month
Denver Apartments
635 apartments starting at $500/month
Detroit Apartments
477 apartments starting at $525/month
Grand Rapids Apartments
226 apartments starting at $560/month
Hartford Apartments
72 apartments starting at $795/month
Houston Apartments
598 apartments starting at $649/month
Indianapolis Apartments
528 apartments starting at $400/month
Jacksonville Apartments
917 apartments starting at $448/month
Kansas City Apartments
499 apartments starting at $500/month
Las Vegas Apartments
798 apartments starting at $600/month
Los Angeles Apartments
3,429 apartments starting at $600/month
Louisville Apartments
292 apartments starting at $594/month
Memphis Apartments
702 apartments starting at $475/month
Miami Apartments
597 apartments starting at $1,300/month
Milwaukee Apartments
507 apartments starting at $465/month
Minneapolis Apartments
666 apartments starting at $625/month
Nashville Apartments
346 apartments starting at $875/month
New Orleans Apartments
437 apartments starting at $595/month
New York City Apartments
1,811 apartments starting at $850/month
Oklahoma City Apartments
557 apartments starting at $549/month
Orlando Apartments
400 apartments starting at $650/month
Philadelphia Apartments
1,671 apartments starting at $400/month
Phoenix Apartments
1,054 apartments starting at $600/month
Pittsburgh Apartments
733 apartments starting at $600/month
Portland Apartments
853 apartments starting at $415/month
Providence Apartments
149 apartments starting at $799/month
Raleigh Apartments
400 apartments starting at $600/month
Richmond Apartments
451 apartments starting at $650/month
Riverside Apartments
106 apartments starting at $590/month
Sacramento Apartments
344 apartments starting at $811/month
Salt Lake City Apartments
178 apartments starting at $550/month
San Antonio Apartments
724 apartments starting at $410/month
San Diego Apartments
936 apartments starting at $795/month
San Francisco Apartments
757 apartments starting at $775/month
San Jose Apartments
208 apartments starting at $1,000/month
Seattle Apartments
898 apartments starting at $600/month
St. Louis Apartments
371 apartments starting at $525/month
Tampa Apartments
389 apartments starting at $800/month
Virginia Beach Apartments
208 apartments starting at $595/month
Washington DC Apartments
522 apartments starting at $828/month