Average United States Rent Prices in 2024

Average Rent Prices in US

The landscape of U.S. real estate is very diverse across many states and major metropolitan areas. Average rent prices across these different locales is a rental real estate data point that helps real estate investors understand how rent prices vary from market-to-market across the U.S. Our in-depth analysis offers a comprehensive look at the average costs of residential rentals across the United States, providing key insights into this year’s market trends.

Average Rent Price US 2024


Average Rent Price US 2023


Year Over Year % Change


*Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout the United States, excluding Puerto Rico.

Average Rent in Largest US Cities 2024

CityPopulationAverage Rent1
New York, NY8,300,000$3,6482
Los Angeles, CA3,800,000$2,0693
Chicago, IL2,700,000$1,7524
Houston, TX2,300,000$1,1465
Phoenix, AZ1,625,000$1,3016
Philadelphia, PA1,585,000$1,6417
San Antonio, TX1,550,000$1,0788
San Diego, CA1,425,000$2,2289
Dallas, TX1,345,000$1,35410
San Jose, CA1,000,000$2,43911
1Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout United States excluding Puerto Rico for calendar year 2024.

Average Rent Prices by US State 2024

Analyzing U.S. rent prices by each state is an important aspect of market research that can unveils rental economic trends. With this information, real estate investors can better identify investment opportunities and understand market dynamics. Click on a State below to see its fair market residential rent price breakdown:

Most Expensive Rent in the United States

It’s no secret that rents have been continually on the rise, but where are rents really the highest in the United States?

Cheapest Rent in the United States

The cheapest rent in the U.S. is an appealing topic for thrifty tenants and investors seeking lower price point properties.

The Ultimate Guide to Rent Payments

Rental Property Rent Payments

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Areas with insufficient inventory or populations less than 50,000 were excluded from this analysis. Averages are based on the combined average of 0-4 bedroom residential rental properties throughout the United States excluding Puerto Rico.


Average rent prices in the US are based on aggregated data from one and/or several sources noted below:


The information included is used for illustrative purposes only. The data contained herein does not constitute financial, legal, or any material advice. Data is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals before making any material decisions.

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