ApartmentAdvisor National Rent Report

October 2025

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.

Overview

Is there a mismatch between national median rent prices and renewal rates?
Miami’s housing market has been called a bubble about to burst. Is it true?
In-migration is spiking the median asking rent prices in Wisconsin.

Need help setting rent prices for your property? Try our free rental pricing tool here.

U.S. National Rent Trends

The median national rent for a 1-bedroom rental apartment in the U.S. was $1,495 in October 2025, 3.24% lower than the median national rent for September.

	Studio	1 Bed	2 Bed	3 Bed
Median Rent	$1,532	$1,495	$1,621	$1,995
1 Month Change	-3.3%	-3.2%	-1.8%	-0.3%
3 Month Change	-5.9%	-6.3%	-4.4%	-4.8%
1 Year Change	-5.8%	-5.1%	-2.3%	0%

Median Rents

Studio$1,532 (-3.3%)

1 Bedroom$1,495 (-3.2%)

2 Bedrooms$1,621 (-1.8%)

3 Bedrooms$1,995 (-0.3%)

Rent Prices Over Time in the U.S.

Key Findings

National Overview: Rent prices have consistently been down this year — but what about renewal prices?

Since April, national median rent prices have been dropping YoY across all apartment sizes. October was no exception — with the median asking rent price for a one-bedroom apartment sitting 3.2% lower MoM and 5.1% lower YoY. While this trend has offered consistently good news for renters looking to move this year, the same isn’t necessarily true for those looking to stay in their current apartment. Renewal offers do not follow market trends as closely as prices for new leases. As asking rent prices continue to soften — especially in areas where construction has been high and demand has softened, like the Mountain West and Southeast — property owners are starting to look to their current tenants to help balance their books.

This strategy can be dangerous for owners and operators. Renters are tech-savvier than ever and most have easy access to rent price histories online. With newly developed communities offering lower prices and concessions next door, a high renewal price becomes a tougher pill to swallow. Owners may want to consider smart pricing strategies that encourage existing residents to stay where they are as competition grows in some key markets.

Regional Deep Dive: Miami’s rent prices have steadily been decreasing for years. Is this really a sign that the housing bubble is ready to burst?

Recently, UBS released a report on housing bubbles most likely to crash — ranking Miami, FL at No. 1. The report cites the gap between rising home prices and lowering rents as a major indicator that housing in the city has been mispriced, as well as the disparity between home prices and incomes.

Like much of Florida, Miami has been experiencing a steady rent decline for several years now. Every October since 2022, rent has consistently decreased: By 16% from ’22 to ’23, 5.6% from ’23 to ’24, and by 3.7% from ’24 to ’25. However, the numbers alone don’t tell the whole story. The larger drops can be explained by the pandemic housing peak, which brought Miami rental prices to unsustainable highs in April ’22, forcing a dramatic rent cooldown in the years to come — a phenomenon observed across the country. The smaller, more recent price drops can be attributed to the construction of new housing. Miami-Dade County has been leading the state and country in new multifamily housing development. Florida was also ranked No. 2 in 2024 for most new construction approvals (Texas was No. 1) — leading to lower rent prices in markets across the state this year.

The persistence of cash home sales and strong international in-migration, coupled with the slowing rent declines and relatively stable sale prices hints that — if Miami is a bubble — it is a long way from bursting.

Average Rent by City

Top 10 Most Expensive Cities to Rent an Apartment

1. New York, NY$3,600 (+0%)

2. San Francisco, CA$3,309 (-2.7%)

3. Jersey City, NJ$2,825 (+13.7%)

4. Boston, MA$2,795 (+3.5%)

5. Washington, DC$2,200 (-4.1%)

6. Charleston, SC$2,200 (+5.1%)

7. San Diego, CA$2,195 (0%)

8. San Jose, CA$2,195 (-0.2%)

9. Burlington, VT$2,125 (-2.1%)

10. Los Angeles, CA$2,050 (0%)

Rank #	City	Median Rent	1 Month Change	Rank Change
1	New York, NY	$3,600	+0%	-
2	San Francisco, CA	$3,309	-2.7%	-
3	Jersey City, NJ	$2,825	+13.7%	↑1
4	Boston, MA	$2,795	+3.5%	↓1
5	Washington, DC	$2,200	-4.1%	-
6	Charleston, SC	$2,200	+5.1%	↑4
7	San Diego, CA	$2,195	0%	-
8	San Jose, CA	$2,195	-0.2%	↓2
9	Burlington, VT	$2,125	-2.1%	↓1
10	Los Angeles, CA	$2,050	0%	↑1

Top 10 Least Expensive Cities to Rent an Apartment

1. Wichita, KS$695 (+1.4%)

2. Cedar Rapids, IA$695 (-10.3%)

3. Toledo, OH$745 (+2.7%)

4. El Paso, TX$750 (0%)

5. Lincoln, NE$777 (-2.3%)

6. Huntsville, AL$785 (+5.6%)

7. Akron, OH$795 (0%)

8. Fort Wayne, IN$801 (-2.9%)

9. Baton Rouge, LA$838 (-1.5%)

10. Sioux Falls, SD$845 (-2.6%)

Rank #	City	Median Rent	1 Month Change	Rank Change
1	Wichita, KS	$695	+1.4%	-
2	Cedar Rapids, IA	$695	-10.3%	↑3
3	Toledo, OH	$745	+2.7%	↓1
4	El Paso, TX	$750	0%	-
5	Lincoln, NE	$777	-2.3%	↑1
6	Huntsville, AL	$785	+5.6%	↓3
7	Akron, OH	$795	0%	-
8	Fort Wayne, IN	$801	-2.9%	-
9	Baton Rouge, LA	$838	-1.5%	↑1
10	Sioux Falls, SD	$845	-2.6%	↑3

Rent Prices in 100 Major Cities

This table shows median rent data for 100 major cities in the US.

New York, NY$3,600 (+0%)

Los Angeles, CA$2,050 (0%)

Chicago, IL$1,928 (-1.1%)

Houston, TX$1,171 (-6.3%)

Phoenix, AZ$1,194 (-0.5%)

Philadelphia, PA$1,390 (+1.1%)

San Antonio, TX$899 (-0.1%)

San Diego, CA$2,195 (0%)

Dallas, TX$1,291 (-5.3%)

San Jose, CA$2,195 (-0.2%)

Austin, TX$1,173 (-2.3%)

Jacksonville, FL$1,073 (+2.1%)

Fort Worth, TX$1,355 (-1.3%)

Columbus, OH$1,200 (-4.9%)

Charlotte, NC$1,509 (-10.1%)

San Francisco, CA$3,309 (-2.7%)

Indianapolis, IN$900 (-2%)

Seattle, WA$1,795 (0%)

Denver, CO$1,400 (-3.4%)

Washington, DC$2,200 (-4.1%)

Boston, MA$2,795 (+3.5%)

El Paso, TX$750 (0%)

Nashville, TN$1,493 (-9.5%)

Detroit, MI$900 (0%)

Oklahoma City, OK$875 (-0.3%)

Portland, OR$1,400 (0%)

Las Vegas, NV$1,100 (+4.8%)

Memphis, TN$900 (+0.6%)

Louisville, KY$850 (-2.6%)

Baltimore, MD$1,221 (-2.4%)

Milwaukee, WI$1,099 (-16.1%)

Albuquerque, NM$900 (+0%)

Tucson, AZ$869 (-0.2%)

Fresno, CA$1,295 (+1.9%)

Sacramento, CA$1,495 (-1%)

Atlanta, GA$1,594 (-1.5%)

Kansas City, MO$1,102 (-0.2%)

Colorado Springs, CO$977 (-2.2%)

Omaha, NE$921 (-2%)

Raleigh, NC$1,184 (-3.4%)

Miami, FL$2,000 (-6.2%)

Virginia Beach, VA$1,385 (-4.9%)

Oakland, CA$1,895 (+0.8%)

Minneapolis, MN$1,099 (+0.4%)

Tulsa, OK$854 (-1.2%)

Tampa, FL$1,499 (-0.1%)

New Orleans, LA$1,347 (-9.5%)

Wichita, KS$695 (+1.4%)

Cleveland, OH$894 (-0.7%)

Honolulu, HI$2,000 (+0.1%)

Riverside, CA$1,750 (0%)

Corpus Christi, TX$872 (+0.3%)

Lexington, KY$925 (0%)

St. Paul, MN$1,038 (-0.7%)

Cincinnati, OH$991 (+4.3%)

St. Louis, MO$900 (-2.7%)

Pittsburgh, PA$1,275 (-1.5%)

Greensboro, NC$950 (+5.5%)

Lincoln, NE$777 (-2.3%)

Anchorage, AK$1,360 (+5%)

Orlando, FL$1,300 (0%)

Newark, NJ-

Toledo, OH$745 (+2.7%)

Fort Wayne, IN$801 (-2.9%)

St. Petersburg, FL$1,500 (-0.1%)

Jersey City, NJ$2,825 (+13.7%)

Madison, WI$1,493 (+7%)

Reno, NV$1,250 (+0.2%)

Buffalo, NY$1,123 (-3.4%)

Richmond, VA$1,297 (+0.2%)

Boise, ID$1,295 (+3%)

Spokane, WA$1,050 (0%)

Baton Rouge, LA$838 (-1.5%)

Des Moines, IA$850 (+3%)

Fayetteville, NC$882 (+2.2%)

Birmingham, AL$902 (-2.8%)

Rochester, NY$1,231 (+3.1%)

Grand Rapids, MI$1,154 (-3.5%)

Huntsville, AL$785 (+5.6%)

Salt Lake City, UT$1,150 (-2.8%)

Augusta, GA$955 (+3.2%)

Akron, OH$795 (0%)

Little Rock, AR$916 (+1.9%)

Tallahassee, FL$975 (+1.8%)

Sioux Falls, SD$845 (-2.6%)

Providence, RI$1,575 (-4.5%)

Jackson, MS-

Savannah, GA$1,500 (-3.2%)

Charleston, SC$2,200 (+5.1%)

Cedar Rapids, IA$695 (-10.3%)

Fargo, ND$975 (+2.6%)

Hartford, CT$1,326 (+2%)

Ann Arbor, MI$1,600 (+1.2%)

Manchester, NH$1,538 (-2.4%)

Billings, MT-

Wilmington, DE-

Portland, ME-

Cheyenne, WY-

Charleston, WV-

Burlington, VT$2,125 (-2.1%)

City	Population	Median Rent	1 Month Change	1 Year Change
New York, NY	8,336,820	$3,600	+0%	+8.4%
Los Angeles, CA	3,979,580	$2,050	0%	-2.3%
Chicago, IL	2,693,980	$1,928	-1.1%	-1.1%
Houston, TX	2,320,270	$1,171	-6.3%	-6.3%
Phoenix, AZ	1,680,990	$1,194	-0.5%	-2.6%
Philadelphia, PA	1,584,060	$1,390	+1.1%	+4.7%
San Antonio, TX	1,547,250	$899	-0.1%	-3.3%
San Diego, CA	1,423,850	$2,195	0%	0%
Dallas, TX	1,343,570	$1,291	-5.3%	+0.3%
San Jose, CA	1,021,800	$2,195	-0.2%	+4.5%
Austin, TX	978,908	$1,173	-2.3%	-9.4%
Jacksonville, FL	911,507	$1,073	+2.1%	+0.7%
Fort Worth, TX	909,585	$1,355	-1.3%	-0.5%
Columbus, OH	898,553	$1,200	-4.9%	+9.6%
Charlotte, NC	885,708	$1,509	-10.1%	-2.6%
San Francisco, CA	881,549	$3,309	-2.7%	+11.8%
Indianapolis, IN	876,384	$900	-2%	-0.1%
Seattle, WA	753,675	$1,795	0%	+1.6%
Denver, CO	727,211	$1,400	-3.4%	-9.7%
Washington, DC	705,749	$2,200	-4.1%	-6.3%
Boston, MA	692,600	$2,795	+3.5%	+0.1%
El Paso, TX	681,728	$750	0%	-1.6%
Nashville, TN	670,820	$1,493	-9.5%	-0.5%
Detroit, MI	670,031	$900	0%	-12.5%
Oklahoma City, OK	655,057	$875	-0.3%	0%
Portland, OR	654,741	$1,400	0%	-1.4%
Las Vegas, NV	651,319	$1,100	+4.8%	-7.9%
Memphis, TN	651,073	$900	+0.6%	+5.9%
Louisville, KY	617,638	$850	-2.6%	+0.4%
Baltimore, MD	593,490	$1,221	-2.4%	+1.3%
Milwaukee, WI	590,157	$1,099	-16.1%	+10.5%
Albuquerque, NM	560,513	$900	+0%	+1.7%
Tucson, AZ	548,073	$869	-0.2%	-2.6%
Fresno, CA	531,576	$1,295	+1.9%	+1.6%
Sacramento, CA	513,624	$1,495	-1%	+1.1%
Atlanta, GA	506,811	$1,594	-1.5%	+0.2%
Kansas City, MO	495,327	$1,102	-0.2%	+0.7%
Colorado Springs, CO	478,221	$977	-2.2%	-1.8%
Omaha, NE	478,192	$921	-2%	-0.6%
Raleigh, NC	474,069	$1,184	-3.4%	+8.1%
Miami, FL	467,963	$2,000	-6.2%	-3.7%
Virginia Beach, VA	449,974	$1,385	-4.9%	-3.6%
Oakland, CA	433,031	$1,895	+0.8%	+2.4%
Minneapolis, MN	429,606	$1,099	+0.4%	+6.8%
Tulsa, OK	401,190	$854	-1.2%	+1.1%
Tampa, FL	399,700	$1,499	-0.1%	-6.3%
New Orleans, LA	390,144	$1,347	-9.5%	+12.3%
Wichita, KS	389,938	$695	+1.4%	+6.1%
Cleveland, OH	381,009	$894	-0.7%	+4%
Honolulu, HI	345,064	$2,000	+0.1%	0%
Riverside, CA	331,360	$1,750	0%	0%
Corpus Christi, TX	326,586	$872	+0.3%	-6.7%
Lexington, KY	323,152	$925	0%	+5.7%
St. Paul, MN	308,096	$1,038	-0.7%	+1.5%
Cincinnati, OH	303,940	$991	+4.3%	+4.3%
St. Louis, MO	300,576	$900	-2.7%	+4.3%
Pittsburgh, PA	300,286	$1,275	-1.5%	+2%
Greensboro, NC	296,710	$950	+5.5%	+6.3%
Lincoln, NE	289,102	$777	-2.3%	+0.2%
Anchorage, AK	288,000	$1,360	+5%	-1.5%
Orlando, FL	287,442	$1,300	0%	-5.3%
Newark, NJ	282,011	-	-	-
Toledo, OH	272,779	$745	+2.7%	-1.6%
Fort Wayne, IN	270,402	$801	-2.9%	+0.1%
St. Petersburg, FL	265,351	$1,500	-0.1%	0%
Jersey City, NJ	262,075	$2,825	+13.7%	-18.6%
Madison, WI	259,680	$1,493	+7%	+5.1%
Reno, NV	255,601	$1,250	+0.2%	+2%
Buffalo, NY	255,284	$1,123	-3.4%	+15.2%
Richmond, VA	230,436	$1,297	+0.2%	+3.8%
Boise, ID	228,959	$1,295	+3%	+3.6%
Spokane, WA	222,081	$1,050	0%	+4%
Baton Rouge, LA	220,236	$838	-1.5%	+5.3%
Des Moines, IA	214,237	$850	+3%	-6.1%
Fayetteville, NC	211,657	$882	+2.2%	+3.7%
Birmingham, AL	209,403	$902	-2.8%	-1.9%
Rochester, NY	205,695	$1,231	+3.1%	+12.5%
Grand Rapids, MI	201,013	$1,154	-3.5%	-2.6%
Huntsville, AL	200,574	$785	+5.6%	0%
Salt Lake City, UT	200,567	$1,150	-2.8%	-2.4%
Augusta, GA	197,888	$955	+3.2%	+6.9%
Akron, OH	197,597	$795	0%	+6%
Little Rock, AR	197,312	$916	+1.9%	-7.9%
Tallahassee, FL	194,500	$975	+1.8%	+2.6%
Sioux Falls, SD	183,793	$845	-2.6%	-1.6%
Providence, RI	179,883	$1,575	-4.5%	-10.6%
Jackson, MS	160,628	-	-	-
Savannah, GA	144,464	$1,500	-3.2%	-6.3%
Charleston, SC	137,566	$2,200	+5.1%	-0.5%
Cedar Rapids, IA	133,562	$695	-10.3%	-0.7%
Fargo, ND	124,662	$975	+2.6%	+9.2%
Hartford, CT	122,105	$1,326	+2%	+4.2%
Ann Arbor, MI	119,980	$1,600	+1.2%	+7.8%
Manchester, NH	112,673	$1,538	-2.4%	+1.7%
Billings, MT	109,577	-	-	-
Wilmington, DE	70,166	-	-	-
Portland, ME	66,215	-	-	-
Cheyenne, WY	64,235	-	-	-
Charleston, WV	46,536	-	-	-
Burlington, VT	42,819	$2,125	-2.1%	-1.2%

To download this data as a CSV, click .

Average Rent by State

Post-pandemic population growth in Wisconsin is contributing to drastic rent increases at the state level.

In 2024, Wisconsin saw the largest population gain through migration in over 20 years. While the state’s population growth from 2004 to 2017 was dominated by natural change (births minus deaths), the tides began to turn after the pandemic. Aside from 2021, the only year in the last two decades during which the state had a net loss of residents, in-migration has been accounting for the vast majority of the population growth since 2022. While overall the net migration in Wisconsin is below average compared to the entire country, it is ranked No. 1 for net migration in the Midwest.

While international in-migration had a large impact on Wisconsin, as well as the rest of the country, this ranking is also the result of domestic affordability migration — the trend of higher earners moving from HCOL cities to lower-cost housing markets in an effort to buy property or save on rental housing.

In-migration can have positive impacts on the local economy, while also putting severe stressors on housing — especially in a low-construction state like Wisconsin. The result? Higher demand in an already supply-strapped state, and higher prices. This month, Wisconsin saw the greatest MoM rent increase for a one-bedroom apartment at the state level (+6.5%), and the second-highest YoY change (+17.9%). This has drawn the attention of the Senate, though any quick relief is unlikely. New housing takes years to impact a market and demand does not show signs of slowing down.

State	Median Rent	1 Month Change	1 Year Change
Alabama	$875	0%	+1.7%
Alaska	$1,288	-0.9%	-0.4%
Arizona	$1,100	-3.6%	-4.1%
Arkansas	$800	+1.4%	0%
California	$1,995	0%	-0.1%
Colorado	$1,295	0%	-2.3%
Connecticut	$1,700	-1.9%	+8.6%
Delaware	-	-	-
Florida	$1,400	-0.7%	-3.4%
Georgia	$1,225	-2%	-5.4%
Hawaii	$2,100	+5%	+5%
Idaho	$1,220	+1.9%	+3.4%
Illinois	$1,650	-2.7%	-2.7%
Indiana	$900	0%	-2.5%
Iowa	$800	0%	-5.3%
Kansas	$775	+1.9%	+10.7%
Kentucky	$870	-0.9%	+2.4%
Louisiana	$1,002	-4.1%	+17.9%
Maine	$1,350	0%	-1.4%
Maryland	$1,400	+3.7%	-0.4%
Massachusetts	$2,400	-2%	-1.5%
Michigan	$976	-2.4%	-2.4%
Minnesota	$1,173	+2%	+9.1%
Mississippi	$900	-0.3%	+9.8%
Missouri	$900	0%	+4.7%
Montana	$1,300	+0.5%	+11.8%
Nebraska	$900	0%	+2.9%
Nevada	$1,178	+0.9%	-1.4%
New Hampshire	$1,600	0%	0%
New Jersey	$2,100	0%	+0.4%
New Mexico	$900	+0%	+2.9%
New York	$3,414	-1.1%	+6.7%
North Carolina	$1,100	-2.2%	0%
North Dakota	$925	+1.6%	+8.7%
Ohio	$925	+1.1%	+3.4%
Oklahoma	$848	-0.3%	+0.9%
Oregon	$1,350	0%	-0.8%
Pennsylvania	$1,244	+2%	+5.3%
Puerto Rico	-	-	-
Rhode Island	$1,595	+1.7%	+0%
South Carolina	$1,195	-0.4%	+3.9%
South Dakota	$885	-1.1%	-1.6%
Tennessee	$1,049	-0.1%	+0%
Texas	$1,069	-2.8%	-2.8%
Utah	$1,096	-2.2%	-1.3%
Vermont	$1,750	0%	+7.9%
Virginia	$1,437	-0.9%	+3%
Washington	$1,595	-1.5%	0%
Washington DC	$2,200	-4.1%	-6.4%
West Virginia	$745	+6.4%	+6.4%
Wisconsin	$1,225	+6.5%	+16.7%
Wyoming	-	-	-

Delaware-

Hawaii$2,100 (+5%)

Puerto Rico-

Texas$1,069 (-2.8%)

Massachusetts$2,400 (-2%)

Maryland$1,400 (+3.7%)

Iowa$800 (0%)

Maine$1,350 (0%)

Idaho$1,220 (+1.9%)

Michigan$976 (-2.4%)

Utah$1,096 (-2.2%)

Minnesota$1,173 (+2%)

Missouri$900 (0%)

Illinois$1,650 (-2.7%)

Indiana$900 (0%)

Mississippi$900 (-0.3%)

Montana$1,300 (+0.5%)

Alaska$1,288 (-0.9%)

Alabama$875 (0%)

Virginia$1,437 (-0.9%)

Arkansas$800 (+1.4%)

North Carolina$1,100 (-2.2%)

North Dakota$925 (+1.6%)

Nebraska$900 (0%)

Rhode Island$1,595 (+1.7%)

Arizona$1,100 (-3.6%)

New Hampshire$1,600 (0%)

New Jersey$2,100 (0%)

Vermont$1,750 (0%)

New Mexico$900 (+0%)

Florida$1,400 (-0.7%)

Nevada$1,178 (+0.9%)

Washington$1,595 (-1.5%)

New York$3,414 (-1.1%)

South Carolina$1,195 (-0.4%)

South Dakota$885 (-1.1%)

Wisconsin$1,225 (+6.5%)

Ohio$925 (+1.1%)

Georgia$1,225 (-2%)

Oklahoma$848 (-0.3%)

California$1,995 (0%)

West Virginia$745 (+6.4%)

Wyoming-

Oregon$1,350 (0%)

Kansas$775 (+1.9%)

Colorado$1,295 (0%)

Kentucky$870 (-0.9%)

Connecticut$1,700 (-1.9%)

Pennsylvania$1,244 (+2%)

Louisiana$1,002 (-4.1%)

Tennessee$1,049 (-0.1%)

Washington DC$2,200 (-4.1%)

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