The past five years have been a tumultuous time for the rental market. The COVID-19 pandemic popularized remote work, allowing renters to move to more affordable cities. CoStar Group data1 shows skyrocketing vacancies in major metro areas around the country as renters migrated to more affordable areas, as reported by the Brookings Institution.
Now, rental markets have begun to stabilize and return to steady rent increases and more predictable vacancies. However, there are some cities where rent increases over the last year were significantly higher than the national average rent increase of 0.6% due to growing job markets, citywide development, or migration of renters to more suburban areas.
Redford Township, MI: Detroit Development Seeps into Suburbs
Current average rent: $988/month
Year-over-year increase: 17.7%
Redford Township is a charter township in the metro Detroit area. Tucked next to US-24, this residential area is perfectly positioned for commuters who work in Downtown Detroit but want a suburban lifestyle.
Detroit has seen a strong job market over the last few years, with job growth expected to continue through 2028. The housing demand and increased property value spurred by Detroit’s economic development is reflected in rent increases in Redford Township and other cities in the Detroit area like Warren and Dearborn. In Redford Township, the lack of new builds paired with more lease-ups and a decreasing vacancy rate signals that demand isn’t being met. CoStar Group data2 reveals that construction on new rentals is underway, and rent growth is expected to slow with the completion of new builds in 2026.
Oxford, MS: Ole Miss Enrollment Boom Drives Double-Digit Rent Growth
Current average rent: $1,249/month
Year-over-year increase: 10.8%
Oxford is a city in north central Mississippi best known as the home of the University of Mississippi, or Ole Miss. Dating back to1837, Oxford is the epitome of a southern college town, with historic buildings, soul food restaurants, and a love for SEC football.
Oxford’s 10.8% rent increase in the last year can be traced back to Ole Miss enrollment. Ole Miss has been experiencing a surge in enrollment, with an increase of 24.1% between 2021 and 2024, and the freshman class increased by about 14% between fall 2023 and fall 2024. Like most universities, Ole Miss requires freshmen to live on campus, but sophomores, upperclassmen, and graduate students have the choice live on or off campus. With limited university housing available, most students choose to live off-campus after freshman year. Between increasing enrollment, limited university housing, and the largest freshman class in school history admitted for the fall 2024 term, Oxford’s rental market experienced a perfect storm of increasing demand that allows property managers to hike prices.
Youngsville, LA: Commercial Development Spurs Population Growth
Current average rent: $1,262/month
Year-over-year increase: 10.6%
Youngsville is a suburb outside of Lafayette that residents love for its quiet streets and friendly community. With several public schools, locally owned restaurants, and scenic parks, Youngsville is a comfortable city that welcomes everyone.
Youngsville is one of the fastest growing cities in Louisiana, having seen a 20.5% population increase since 2020. This rapid population growth in Youngsville is driven by job growth in nearby Lafayette and the City of Youngsville’s investment in the local economy. In 2024, Youngsville began waiving commercial development fees to encourage new businesses to open in the area, and new businesses like an Italian ice shop and the Paradise Plaza development prove this initiative paid off.
Bedford, NH: Citywide Development Transforms Demand for Housing
Current average rent: $2,289/month
Year-over-year increase: 9.8%
Bedford is a peaceful suburb outside of Manchester. Surrounded by nature preserves and close to trails along the Merrimack River, Bedford is perfect for renters who love to hike. Restaurants and pubs along South River Road provide the perfect meeting spot for neighbors, and the weekly Bedford Farmers Market connects residents with local vendors.
Bedford, like many other New Hampshire towns, has been shifting away from just a place for commuters to sleep after a day of work in Manchester or Concord. New developments like the Market and Main and great public schools in the area have solidified Bedford as more than just a bedroom community, drawing renters to the area in numbers that the housing supply is struggling to keep up with. As a result, the cost of housing has shot up along with demand.
Trotwood, OH: Dayton Area Data Centers Bring Job Growth
Current average rent: $908/month
Year-over-year increase: 9.4%
Trotwood is a quiet city sandwiched between Dayton and Sycamore State Park. Trotwood’s proximity to Dayton makes it a perfect place for commuters looking to live on the outskirts of the city or history buffs interested in Dayton’s aviation history.
The 9.4% rent increase between 2024 and 2025 can likely be attributed to Dayton’s booming economy and job growth. Ohio has emerged as a data center hub, with 191 data centers across the state. Dayton alone has six, and other companies have considered building data centers in the area. Additionally, aviation employers like Joby Aviation, Sierra Nevada Corporation, and the Wright-Patterson Air Force Base have contributed to the 4.9% increase in average weekly earnings between August 2024 and August 2025.
Pendleton, SC: Lakeside Living Draws in More Residents
Current average rent: $1,236/month
Year-over-year increase: 8%
Pendleton is a small town near the city of Clemson and Clemson University. This charming city is home to about 3,800 residents, making up only 0.07% of South Carolina’s population. With Lake Hartwell and the Blue Ridge Mountains nearby, residents are surrounded by natural beauty.
Pendleton has grown rapidly over the last few years, as new residents move to the area. Residents are drawn to the area because of its small-town community, nearby lakes and mountains, and proximity to employers in Clemson, Anderson, and Greenville. The town is working on meeting the needs of new residents by revitalizing neighborhoods and building new schools, both of which raise the property value of homes and apartment communities. The 8% increase in Pendleton’s average rent can be attributed to a combination of growing demand and rising property values due to investment in local infrastructure and public services.
Bridgewater, NJ: NYC Prices Push Renters to New Jersey Suburbs
Current average rent: $2,196/month
Year-over-year increase: 7.9%
Bridgewater is a suburb between Trenton and Newark. Renters are drawn to Bridgewater for its welcoming community, peaceful streets, great public schools, and proximity to New York. The Raritan Valley Rail Line takes commuters from Bridgewater to Penn Station in about an hour and fifteen minutes, and Amtrak stations just a short drive away connect residents with the rest of New England.
The surge in Bridgwater’s rental prices traces back to demand in NYC. With the highest average rent in the country, New York is pricing out many residents and pushing more demand to New Jersey. CoStar Group data3 shows that, despite new apartment communities being built, vacancy rates have dropped in the area around Bridgewater in the last year. This suggests that renters are searching for more affordable housing outside of major cities, and construction can’t keep up with the rising demand.
Bristol, CT: Upscale Efforts Drive Up Property Values
Current average rent: $1,336/month
Year-over-year increase: 7.8%
Bristol is a suburb outside of Hartford in central Connecticut. Rolling hills, lush foliage, and Cape Cod-style houses give residents the quintessential New England experience without straying too far from big cities.
While vacancy rates in 2025 are higher than they were in 2024, this is due to new rentals coming to the market near the end of 2024. A large portion of new deliveries are luxury rentals, explaining the sudden increase in rent at the beginning of 2025. However, these luxury rentals are only a piece of the puzzle and reflect a larger effort to reinvigorate the city, specifically downtown. The combination of city development increasing property values and more upscale rentals coming to the area has created a perfect storm of rent increases.
Hershey, PA: Chocolate Factory Expansion Brings New Jobs
Current average rent: $1,237/month
Year-over-year increase: 7.2%
Hershey is a community outside of Harrisburg, the state capital. Best known for the Hershey Company’s headquarters, Hershey is a suburb full of industrial charm and infused with the addictive smell of chocolate.
In April, The Hershey Company opened the Reese Chocolate Processing (RCP) facility, the first manufacturing facility to be built in Hershey in over 30 years. This $1 billion investment has created more jobs and reinforced Hershey as a manufacturing giant. The upshoot in housing demand in Hershey can likely be traced back to the city’s pride and joy, along with unchanged inventory and a rising population.
Oakdale, NY: Post-Pandemic Population Growth Spiked Demand
Current average rent: $3,147/month
Year-over-year increase: 7.2%
Oakdale is a coastal suburb along Great South Bay on Long Island. With quiet, tree-lined streets, it’s hard to believe Manhattan is just a train ride away. Commuters can take the Long Island Rail Road (LIRR) to Grand Central Station in about an hour and a half.
According to World Population Review, Oakdale's population grew by about 7% between 2020 and 2022. Post-pandemic moves to Oakdale put a strain on the city's already-low inventory, causing rents to skyrocket. At this point, the construction industry was still recovering from supply chain lags, which slowed inventory growth and pushed rents even higher. The rental market is still experiencing high demand and low supply, and an ever-increasing cost of living on Long Island requires property managers to hike rents.
Compare Year-Over-Year Differences
|
City |
2025 Average Rent |
2024 Average Rent |
Year-Over-Year Increase |
|
$988 |
$839 |
17.7% |
|
|
$1,249 |
$1,127 |
10.8% |
|
|
$1,262 |
$1,141 |
10.6% |
|
|
$2,289 |
$2,085 |
9.8% |
|
|
$908 |
$830 |
9.4% |
|
|
$1,236 |
$1,144 |
8% |
|
|
$2,196 |
$2,037 |
7.9% |
|
|
$1,336 |
$1,239 |
7.8% |
|
|
$1,237 |
$1,154 |
7.2% |
|
|
$3,147 |
$2,936 |
7.2% |
These rent increases are symptoms of thriving economies and investments in citywide development. While renters in big cities also feel the effects of rising populations and property values on rent prices, smaller cities are typically less prepared for rapid changes in housing demand. Rents may stabilize as more rentals are built and demand becomes more predictable, making it easier for renters to build a budget that stays relatively consistent.
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Apartment rent data provided by CoStar Group’s October 2025 reports.
1United States Multi-Family Market Report
2Livonia/Plymouth Multi-Family Submarket Report
3Outlying Somerset County Multi-Family Submarket Report
