(SmartAsset) – Most experts agree that the United States is millions of housing units short of meeting the needs of Americans at an affordable price. This can put a lot of pressure on prices, but supply and demand dynamics may not look the same in each city—or each snapshot in time, for that matter. Regardless, demand for housing has spillover effects into the wider local community, affecting affordability, business opportunities and more. And while renters get to enjoy some lifestyle flexibility that homeowners may not, renters also may be more at the mercy of the local markets when it comes to housing affordability.
With this in mind, SmartAsset ranked 100 of the largest U.S. cities based on the percentage change in average rent prices between February 2024 and February 2025 to determine where hopeful renters may be feeling priced out – and where opportunity abounds.
Key findings
Rent increased by over 8% in Newark, New Jersey. Newark—a 20-minute train ride from New York City—saw the largest annual increase in average rent across large cities, going up 8.1% from $2,073 in early 2024 to $2,241 in early 2025. Overall, rents are up 46.5% in Newark over five years.
On average, rent is highest in Boston. As of late February, Boston rents beat out New York City rents by just $6 per month. After a 4.1% increase year over year, the average rent in Boston is now $3,495.
California cities dominate the most expensive places for rent. Half of the 10 cities with the highest rent this year are in California, with rents surpassing $3,000 per month: San Francisco (3rd, $3,368); Irvine (4th, $3,306); San Jose (5th, $3,131); Chula Vista (7th, $3,126); and San Diego ($3,025).
Six cities saw a decrease in rent this year. Aurora, Colorado, had the biggest relative annual drop in rent at -3.1%, with the average coming in at $1,782. Austin, Texas (-2.3%); Denver (-1.7%); Naples, Florida (-1.3%); Plano, Texas (-0.18%); and San Antonio (-0.08%) also saw rent shrink slightly.
Rent is lowest in Wichita, Kansas. Despite a 3.5% increase in rent over the past year, Wichita remains the least expensive for renters with an average monthly cost of $1,063. Five years ago, rent here was $782.
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Top 10 cities where rent increased most
Cities are ranked based on the percentage change in average rent for all homes between February 2024 and February 2025.
Newark, New Jersey
One-year change in average rent: 8.11%
Average rent, 2025: $2,241
Average rent, 2024: $2,073
Average rent, 2020: $1,530
Five-year change in average rent: 46.46%
Cleveland
One-year change in average rent: 7.25%
Average rent, 2025: $1,303
Average rent, 2024: $1,215
Average rent, 2020: $899
Five-year change in average rent: 44.87%
Columbia, South Carolina
One-year change in average rent: 6.69%
Average rent, 2025: $1,504
Average rent, 2024: $1,409
Average rent, 2020: $1,013
Five-year change in average rent: 48.37%
Fort Wayne, Indiana
One-year change in average rent: 6.23%
Average rent, 2025: $1,215
Average rent, 2024: $1,144
Average rent, 2020: $822
Five-year change in average rent: 47.86%
Milwaukee
One-year change in average rent: 6.17%
Average rent, 2025: $1,376
Average rent, 2024: $1,296
Average rent, 2020: $1,039
Five-year change in average rent: 32.44%
Saint Petersburg, Florida
One-year change in average rent: 6.06%
Average rent, 2025: $2,070
Average rent, 2024: $1,952
Average rent, 2020: $1,275
Five-year change in average rent: 62.40%
Toledo, Ohio
One-year change in average rent: 5.85%
Average rent, 2025: $1,095
Average rent, 2024: $1,034
Average rent, 2020: $770
Five-year change in average rent: 42.24%
Detroit
One-year change in average rent: 5.75%
Average rent, 2025: $1,339
Average rent, 2024: $1,266
Average rent, 2020: $904
Five-year change in average rent: 48.07%
Lexington, Kentucky
One-year change in average rent: 5.71%
Average rent, 2025: $1,416
Average rent, 2024: $1,340
Average rent, 2020: $978
Five-year change in average rent: 44.83%
Rochester, New York
One-year change in average rent: 5.48%
Average rent, 2025: $1,472
Average rent, 2024: $1,396
Average rent, 2020: $1,037
Five-year change in average rent: 41.93%
Top 10 cities where rent is highest
Cities are ranked based on the average rent for all homes as of Feb. 28, 2025.
Boston
Average rent, 2025: $3,495
One-year change in average rent: 4.06%
Average rent, 2024: $3,359
Average rent, 2020: $2,811
Five-year change in average rent: 24.37%
New York City
Average rent, 2025: $3,489
One-year change in average rent: 4.14%
Average rent, 2024: $3,350
Average rent, 2020: $2,839
Five-year change in average rent: 22.88%
San Francisco
Average rent, 2025: $3,368
One-year change in average rent: 5.14%
Average rent, 2024: $3,204
Average rent, 2020: $3,426
Five-year change in average rent: -1.7%
Irvine, California
Average rent, 2025: $3,306
One-year change in average rent: 1.75%
Average rent, 2024: $3,249
Average rent, 2020: $2,464
Five-year change in average rent: 34.2%
San Jose, California
Average rent, 2025: $3,131
One-year change in average rent: 3.23%
Average rent, 2024: $3,033
Average rent, 2020: $2,814
Five-year change in average rent: 11.25%
Jersey City, New Jersey
Average rent, 2025: $3,129
One-year change in average rent: 4.62%
Average rent, 2024: $2,991
Average rent, 2020: $2,427
Five-year change in average rent: 28.9%
Chula Vista, California
Average rent, 2025: $3,126
One-year change in average rent: 3.92%
Average rent, 2024: $3,008
Average rent, 2020: $2,175
Five-year change in average rent: 43.75%
San Diego
Average rent, 2025: $3,025
One-year change in average rent: 2.72%
Average rent, 2024: $2,945
Average rent, 2020: $2,204
Five-year change in average rent: 37.26%
Miami
Average rent, 2025: $3,019
One-year change in average rent: 2.58%
Average rent, 2024: $2,943
Average rent, 2020: $1,934
Five-year change in average rent: 56.07%
Naples, Florida
Average rent, 2025: $2,912
One-year change in average rent: -1.29%
Average rent, 2024: $2,950
Average rent, 2020: $1,855
Five-year change in average rent: 56.98%
Top 10 cities where rent decreased most
Cities are ranked based on the percentage change in average rent for all homes between February 2024 and February 2025.
Aurora, Colorado
One-year change in average rent: -3.05%
Average rent, 2025: $1,782
Average rent, 2024: $1,838
Average rent, 2020: $1,434
Five-year change in average rent: 24.19%
Austin, Texas
One-year change in average rent: -2.34%
Average rent, 2025: $1,644
Average rent, 2024: $1,684
Average rent, 2020: $1,413
Five-year change in average rent: 16.35%
Denver
One-year change in average rent: -1.65%
Average rent, 2025: $1,874
Average rent, 2024: $1,905
Average rent, 2020: $1,609
Five-year change in average rent: 16.46%
Naples, Florida
One-year change in average rent: -1.29%
Average rent, 2025: $2,912
Average rent, 2024: $2,950
Average rent, 2020: $1,855
Five-year change in average rent: 56.98%
Plano, Texas
One-year change in average rent: -0.18%
Average rent, 2025: $1,753
Average rent, 2024: $1,757
Average rent, 2020: $1,384
Five-year change in average rent: 26.68%
San Antonio
One-year change in average rent: -0.08%
Average rent, 2025: $1,412
Average rent, 2024: $1,414
Average rent, 2020: $1,181
Five-year change in average rent: 19.59%
Dallas
One-year change in average rent: 0.47%
Average rent, 2025: $1,688
Average rent, 2024: $1,680
Average rent, 2020: $1,366
Five-year change in average rent: 23.60%
Gilbert, Arizona
One-year change in average rent: 0.49%
Average rent, 2025: $2,088
Average rent, 2024: $2,078
Average rent, 2020: $1,545
Five-year change in average rent: 35.18%
Durham, North Carolina
One-year change in average rent: 0.63%
Average rent, 2025: $1,639
Average rent, 2024: $1,629
Average rent, 2020: $1,260
Five-year change in average rent: 30.12%
Silver Spring, Maryland
One-year change in average rent: 0.77%
Average rent, 2025: $2,027
Average rent, 2024: $2,012
Average rent, 2020: $1,724
Five-year change in average rent: 17.59%
Top 10 cities where rent is lowest
Cities are ranked based on the average rent for all homes as of Feb. 28, 2025.
Wichita, Kansas
Average rent, 2025: $1,063
One-year change in average rent: 3.52%
Average rent, 2024: $1,026
Average rent, 2020: $782
Five-year change in average rent: 35.94%
Toledo, Ohio
Average rent, 2025: $1,095
One-year change in average rent: 5.85%
Average rent, 2024: $1,034
Average rent, 2020: $770
Five-year change in average rent: 42.24%
Fort Wayne, Indiana
Average rent, 2025: $1,215
One-year change in average rent: 6.23%
Average rent, 2024: $1,144
Average rent, 2020: $822
Five-year change in average rent: 47.86%
Memphis, Tennessee
Average rent, 2025: $1,267
One-year change in average rent: 2.12%
Average rent, 2024: $1,241
Average rent, 2020: $903
Five-year change in average rent: 40.38%
Oklahoma City
Average rent, 2025: $1,283
One-year change in average rent: 3.95%
Average rent, 2024: $1,234
Average rent, 2020: $946
Five-year change in average rent: 35.61%
Tulsa, Oklahoma
Average rent, 2025: $1,299
One-year change in average rent: 3.51%
Average rent, 2024: $1,255
Average rent, 2020: $909
Five-year change in average rent: 42.82%
Lincoln, Nebraska
Average rent, 2025: $1,301
One-year change in average rent: 4.07%
Average rent, 2024: $1,250
Average rent, 2020: $964
Five-year change in average rent: 34.98%
Cleveland
Average rent, 2025: $1,303
One-year change in average rent: 7.25%
Average rent, 2024: $1,215
Average rent, 2020: $899
Five-year change in average rent: 44.87%
Saint Louis
Average rent, 2025: $1,313
One-year change in average rent: 4.70%
Average rent, 2024: $1,254
Average rent, 2020: $987
Five-year change in average rent: 33.00%
Detroit
Average rent, 2025: $1,339
One-year change in average rent: 5.75%
Average rent, 2024: $1,266
Average rent, 2020: $904
Five-year change in average rent: 48.07%
Data and methodology
Rental data used in this SmartAsset study comes from Zillow’s Zillow Observed Rent Index (ZORI). Data as of February 2025, February 2024, and February 2020 was compared. Data represents average for all homes plus multifamilies for 100 of the largest U.S. cities, smoothed and seasonally adjusted.
This story was produced by SmartAsset and reviewed and distributed by Stacker.
