Key Takeaways
- The national average one-bedroom rent was $1,664 per month, an increase of 0.8% over the last year.
- Chicago mayor Brandon Johnson proposed the Protecting Renters Ordinance to combat the affordability crisis as rents across the city climb higher.
- Lease-ups spiked among luxury units in San Antonio and the Dallas-Fort Worth area, causing a deceleration in rent growth, but both metro areas are still experiencing an oversupplied rental market.
In August, the national average rent was $1,664 per month for a one-bedroom, an increase of 0.8% from August 2025, and $1,931 per month for a two-bedroom. The national vacancy rate comes in at 7.9% at the end of summer moving season.
Chicago Proposes New Renter Protections
Chicago is seeing some of the fastest-growing rents in the country, with year-over-year rent increases at 4.1% in August. The average rent for a one-bedroom apartment in Chicago is $2,053 per month, which accounts for 35.6% of Chicago’s median household income of $69,230, and the cost of living is 18.3% higher than the national average.
In late June, Chicago mayor Brandon Johnson introduced the Protecting Renters Ordinance (PRO) to combat the city’s affordability crisis. If passed, PRO would overhaul the Residential Landlord and Tenant Ordinance (RLTO) and implement changes like restrictions on security deposits and move-in fees, a Tenant Bill of Rights and a “just cause” requirement for landlords seeking eviction or non-renewal of a tenant’s lease.
In July, the City Council introduced the Fair and Accountable Illinois Rental Ordinance (FAIR) as an alternative to PRO that excludes some of the more extensive provisions like the “just cause” requirement.
So far, no legislation has passed.
August 2026 Rent Growth
Rhode Island had the greatest year-over-year increase at 3.5%. Arizona and Colorado tied for the largest decrease at -2.1%.
August 2026 rent increases by city
Pittsburgh has added almost 7,000 new luxury units since 2023, causing fluctuations in vacancies and a gradual increase in citywide average rent.
Here are the cities with the biggest rent increases in August:
- Brooklyn, NY: +4.9%
- Chicago, IL: +4.7%
- Hollywood, FL: +4.4%
- Pittsburgh, PA: +4.2%
- New York, NY: +4.1%
August 2026 rent decreases by city
San Antonio and the Dallas-Fort Worth area are seeing the highest lease-ups since 2021, and absorption surpassed new supply for the first time in the same period. Despite the spike in lease-ups, particularly among luxury units, and a slowdown in rent growth, new supply still far outpaces demand.
Here are the cities with the biggest rent decreases in August:
- Naples, FL: -1.3%
- Katy, TX: -1.1%
- Fort Myers, FL: -1.0%
- San Antonio, TX: -0.7%
- Fort Worth, TX: -0.1%
Current Rent Prices Across the U.S.
|
City |
Current Average Rent |
Last Month’s Average Rent |
Year-Over-Year Difference |
|
$2,411 |
$2,401 |
+2.4% |
|
|
$1,659 |
$1,658 |
+1.6% |
|
|
$1,421 |
$1,420 |
-0.1% |
|
|
$3,617 |
$3,632 |
+3.9% |
|
|
$1,673 |
$1,655 |
+0.8% |
|
|
$3,086 |
$3,064 |
+2.1% |
|
|
$1,937 |
$1,935 |
+3.7% |
|
|
$1,477 |
$1,477 |
-0.8% |
|
|
$2,053 |
$2,054 |
+4.1% |
|
|
$1,151 |
$1,145 |
+1.5% |
|
|
$1,315 |
$1,304 |
+1.4% |
|
|
$1,188 |
$1,186 |
+2% |
|
|
$1,408 |
$1,410 |
-0.1% |
|
|
$1,629 |
$1,642 |
-0.6% |
|
|
$2,272 |
$2,292 |
-0.3% |
|
|
$1,272 |
$1,273 |
-0.6% |
|
|
$3,895 |
$3,866 |
+2.6% |
|
|
$1,748 |
$1,788 |
+0.9% |
|
|
$1,179 |
$1,181 |
-1% |
|
|
$1,124 |
$1,127 |
+0.6% |
|
|
$3,029 |
$2,980 |
+0.5% |
|
|
$1,307 |
$1,305 |
+1.2% |
|
|
$3,296 |
$3,291 |
+2.9% |
|
|
$1,258 |
$1,263 |
+2.3% |
|
|
$1,266 |
$1,266 |
-1.3% |
|
|
$1,884 |
$1,855 |
+1.8% |
|
|
$2,198 |
$2,186 |
+0.1% |
|
|
$1,514 |
$1,514 |
+0.5% |
|
|
$2,243 |
$2,248 |
+1.6% |
|
|
$1,217 |
$1,222 |
+1.9% |
|
|
$1,417 |
$1,425 |
+2.1% |
|
|
$1,687 |
$1,702 |
-0.6% |
|
|
$4,197 |
$4,193 |
+3.2% |
|
|
$1,589 |
$1,585 |
+0.3% |
|
|
$1,781 |
$1,787 |
+2.4% |
|
|
$1,310 |
$1,304 |
-0.7% |
|
|
$1,446 |
$1,454 |
+2.5% |
|
|
$1,532 |
$1,529 |
+1% |
|
|
$3,606 |
$3,600 |
+2.8% |
|
|
$1,391 |
$1,391 |
+1.4% |
|
|
$1,439 |
$1,438 |
+1.1% |
|
|
$1,578 |
$1,583 |
-0.7% |
|
|
$1,157 |
$1,159 |
+1.6% |
|
|
$1,067 |
$1,074 |
-1.6% |
|
|
$2,446 |
$2,432 |
+1.2% |
|
|
$3,621 |
$3,541 |
+13.3% |
|
|
$2,870 |
$2,845 |
+7.6% |
|
|
$2,134 |
$2,119 |
+0.7% |
|
|
$1,652 |
$1,653 |
-0.6% |
|
|
$2,303 |
$2,291 |
+0.8% |
How Current Rent Prices Impact Renters
Rent prices are always changing due to fluctuating demand, so it’s important to keep up with market trends when you’re looking to move so you get the best deal. You’ll generally find the best prices in the fall and winter since summer is a popular time to move, but other factors like the local job market can influence demand for rentals.
Need help comparing cities? Our Cost of Living Calculator makes it easy. You can also compare the rent prices from this report to those from July and June to determine the overall trend and visit the U.S. Rent Trends page to view the most current rent prices available across the U.S.
Methodology:
The rent data in this report is sourced from CoStar Group’s Market Trend reports. CoStar Group is the leading authority in commercial real estate information, analytics, and news, trusted by real estate professionals for nearly 40 years. By combining this data with Apartments.com internal data and public record, we’re able to deliver the most up-to-date rental information available.
To determine overall rent trends, we evaluate rent prices from more than 2,400 cities across the nation, including the top 80 national markets. This analysis includes year-over-year and month-over-month rent changes to provide a comprehensive view of market dynamics. This report covers a diverse range of property types to ensure a holistic view of the rental market.
FAQs
What is the average rent in the U.S. right now?
The average rent in the U.S. is currently $1,664 per month, a year-over-year increase of 0.8%.
Which states had the largest rent increases in August 2026?
The states with the largest rent increases in August were Rhode Island, Illinois, and Idaho. Rhode Island’s average rent increased by 3.5% compared to last year, Illinois’ average rent increased by 3.3%, and Idaho’s average rent increased by 2.8%.
Which states have the cheapest rent right now?
The states with the cheapest rent are Oklahoma, Arkansas, and West Virginia. Oklahoma has the cheapest rent in the U.S. at $920/month, a 0.9% increase over last year.
Are rent prices rising or falling in the U.S.?
Rent prices in the U.S. are rising, averaging 0.8% more than last year.
