A deeper look at rents across America

By looking at the rent data information as charted below, apartment rents are on their way up in the ten largest American cities by population (in order below starting with the largest), but not at skyrocketing rates as some analysts have inferred. Although there have been spikes over the last year, most (but not all) cities are seeing a slow rise in rental rates.

Interestingly, the volume of number of rentals in these cities is drastically higher in the two Texas cities than all others, with Houston currently showing 16,324 available rental listings and Dallas showing 14,235 whereas the next highest number is in New York City with only 7,335.

Pay close attention to the differences in unit types and how each varies in these cities, and note that despite spikes, there is a slow increase.

Average rental rates in New York City over the last 12 months

Current rental rates for available New York City listings

All Beds 1 Bed 2 Beds 3+ Beds Median: $3311 $3250 $4495 $5000 Average: $3629 $3236 $4499 $5871 # of Listings: 7335 3928 1760 580

Average rental rates in Los Angeles over the last 12 months

Current rental rates for available Los Angeles listings

All Beds 1 Bed 2 Beds 3+ Beds Median: $2045 $1716 $2700 $3350 Average: $2109 $1773 $2577 $3494 # of Listings: 2749 1174 1026 159

Average rental rates in Chicago over the last 12 months

Current rental rates for available Chicago listings

All Beds 1 Bed 2 Beds 3+ Beds Median: $1438 $1450 $1877 $1593 Average: $1626 $1544 $1952 $1984 # of Listings: 4369 1955 1304 469

Average rental rates in Houston over the last 12 months

Current rental rates for available Houston listings

All Beds 1 Bed 2 Beds 3+ Beds Median: $1190 $1043 $1363 $1327 Average: $1111 $919 $1241 $1494 # of Listings: 16324 7580 7064 1538

Average rental rates in Philadelphia over the last 12 months

Current rental rates for available Philadelphia listings

All Beds 1 Bed 2 Beds 3+ Beds Median: $1280 $1102 $1400 $2100 Average: $1381 $1241 $1511 $2119 # of Listings: 1938 993 554 199

Avg. rental rates in Phoenix-Scottsdale over the last 12 months

Current rental rates for available Phoenix-Scottsdale listings

All Beds 1 Bed 2 Beds 3+ Beds Median: $837 $725 $875 $1175 Average: $843 $724 $929 $1095 # of Listings: 3199 1310 1329 367

Average rental rates in San Antonio over the last 12 months

Current rental rates for available San Antonio listings

All Beds 1 Bed 2 Beds 3+ Beds Median: $850 $715 $899 $1296 Average: $915 $760 $945 $1297 # of Listings: 4672 2016 1918 692

Average rental rates in San Diego over the last 12 months

Current rental rates for available San Diego listings

All Beds 1 Bed 2 Beds 3+ Beds Median: $1800 $1497 $1912 $2399 Average: $1765 $1523 $1883 $2330 # of Listings: 2507 1010 1143 279

Average rental rates in Dallas over the last 12 months

Current rental rates for available Dallas listings

All Beds 1 Bed 2 Beds 3+ Beds Median: $1546 $1300 $1795 $2839 Average: $1228 $985 $1394 $2065 # of Listings: 14235 7211 5662 1118

Average rental rates in San Jose over the last 12 months

Current rental rates for available San Jose listings

All Beds 1 Bed 2 Beds 3+ Beds Median: $1915 $1635 $2245 $2650 Average: $2012 $1589 $2230 $3130 # of Listings: 1771 783 723 199

Next, we will take a look at how housing rents have changed over the last year and compare the two, given how different each sector is from each other.