Year-on-year apartment rent change in the U.S. 2018-2023, per month

Published by Statista Research Department, Jan 8, 2024

Rents in the United States declined year-on-year for the first time in June 2023, after soaring for two years in a row. In November 2021, rents soared by over 18 percent annually - the highest increase on record. In December 2023, the average rent declined by about one percent from the same period one year ago. Despite the softening of the market, many states still experienced rising rents.

Year-on-year percentage change in the average monthly apartment rent in the United States from January 2018 to December 2023

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Source

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Release date

November 2023

Region

United States

Survey time period

January 2018 to December 2023

Supplementary notes

The figures reflect the median paid rent of new leases. The source uses a same-unit analysis. More information on the methodology can be found here.

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