Apartments.com Rent Report for January 2026: Sun Belt States Remain Saturated

Key Takeaways

• The national average rent was $1,625 per month for a one-bedroom, an increase of 0.4% over the last year.
• The national vacancy rate is holding steady at 8.6%.
• Texas, like many other Sun Belt states, is experiencing an oversupplied rental market that is putting downward pressure on rent prices.

In January, the national average rent was $1,625 per month for a one-bedroom and $1,881 per month for a two-bedroom. This was an increase of 0.4% from January 2025. The national vacancy rate is currently 8.6%, having experienced a steady climb from this time last year.  

Oversupply Drives Down Texas Rents

Texas’ average rent has decreased by 1.6% over the past year, and the biggest metro areas have seen even bigger declines. Meanwhile, vacancy rates in Texas’ major metro areas soar well above the national average of 8.6%—Houston’s is 19.5%, Dallas’ is 18%, Austin’s is 16.7%, and San Antonio’s is 10.4%.

Oversupply has been the name of the game for Sun Belt states over the last few years, and Texas is no exception. New constructions entering the market conflict with low lease-ups, creating a rental market overpopulated with listings. This drives vacancy rates to the sky-high levels Texas’ biggest cities are experiencing, and property managers have to drop prices and offer more rent concessions in order to stay competitive.

January 2026 Rent Growth

Rhode Island had the greatest year-over-year increase at 3.9%, and Colorado had the largest decrease at -3.3%.

January 2026 rent increases by city

The average rent in Hollywood, FL, is 6.5% higher than last year despite new deliveries increasing vacancy rates. If vacancy rates remain high, Hollywood may see a deceleration in rent growth.

Here are the cities with the biggest rent increases in January:

• Hollywood, FL: +6.5%
• Brooklyn, NY: +5.7%
• Miami Beach, FL: +4.1%
• Chicago, IL: +2.3%
• New York, NY: +2.2%

January 2026 rent decreases by city

Florida and Texas lead rent decreases in the U.S. in January, and neither state shows signs of slowing rent declines. Both states’ major markets are oversupplied, offering renters great deals while vacancies remain high.

Here are the cities with the biggest rent decreases in January:

• Sarasota, FL: -6.1%
• Fort Myers, FL: -6.0%
• Naples, FL: -4.7%
• Austin, TX: -3.2%
• Katy, TX: -3.2%

Current Rent Prices Across the U.S.

How Current Rent Prices Impact Renters

If you’re thinking about moving soon, you’ll find good deals in the next few months. Rents tend to rise in April and May, as property managers prepare for an influx in lease-ups over the summer. Beat the traffic and start looking now!

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 December and November 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 more than 37 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.