Last Updated on May 5, 2022
Rent prices continued to grow rapidly in February, with the median U.S. asking rent up 4% vs. January. For those making the median household income (2020: $67,521), that’s a hardship, but renters make less – median income for renters was only $42,000 in 2019 vs. $81,000 for homeowners. At $1,820 in rent per month, the median renter household with a median rental is spending a shocking 52% of their (pre-tax) income on rent. Overall numbers, however, mask a dramatic difference between the market for single-family rentals and apartment rentals. Single-family home rentals have shouldered the majority of the rent increases in the past year. This analysis is based on Dwellsy’s industry-leading data set, which draws from over 12 million rental homes and apartments. In January, Dwellsy analyzed data for more than 446,000 available rentals in over 400 markets across the U.S. For your convenience, Dwellsy provides quick access to summary rent price tables for all U.S. cities and towns. For full details, download the following data sets: To book an interview with our CEO to discuss results and findings, please use this scheduling link. As the largest and most inclusive rental marketplace in the country, Dwellsy has a representative sample of in-market asking rents, and our analysis reflects the actual experience of renters searching for a place in a given time period. Most other housing market datasets are focused only on premium multifamily units and have to use complex statistical modeling techniques based on data from several years ago in their attempts to replicate Dwellsy’s data. Dwellsy is the marketplace that renters want and deserve, a comprehensive residential home rentals marketplace based on the radical concept that true, organic search in a free eco-system creates more value than the pay-to-play model embraced by all of the current rental listing services. Dwellsy has more than 12 million residential rental home listings, more than any legacy classifieds site, and those numbers continue to rise. We also have the most diverse set of listings—including single-family rentals, condos, townhouses, and apartments at all price points. If you’re looking for more data, sign up for updates here. Looking for a new rental? Dwellsy is here to help.Key Findings from Dwellsy’s Industry-leading data:
Single-Family Rentals Apartment Rentals Median Rent $2,160 $1,562 Rent Increase vs. 1 Year Ago 35.0% 3.4% Amongst large cities, those with the highest rents were:
Rank City Feb 2022 Rent vs. Feb 2021 1 Boston, MA $2,906 + 14.0% 2 San Francisco, CA $2,795 + 12.0% 3 San Jose, CA $2,750 + 10.9% 4 New York, NY $2,686 + 7.5% 5 Miami, FL $2,675 + 33.8% 6 Los Angeles, CA $2,500 + 13.1% 7 San Diego, CA $2,491 + 25.1% For more details, access the full datasets here:
About Dwellsy Data
About Dwellsy
