Key Takeaways
- The national average rent was $1,640 per month, an increase of 0.9% over the last year.
- While the overall vacancy rate remained stable, vacancies dropped for luxury apartment communities.
- New York City entered the top five cities with the biggest rent increases, with a 4.1% year-over-year increase.
In August, the national average rent was $1,640 per month for a one-bedroom and $1,900 per month for a two-bedroom.
The overall vacancy rate held steady at 8.1%, but vacancies for studio apartments have already begun a slow decline to the now projected rate of 6.3% by the end of September. Vacancies for one-, two-, and three-bedrooms have seen little to no change.
A Leap in Luxury Lease-Ups
While the overall vacancy rate remained stable, 4- and 5-star buildings saw a 0.2-point decrease in August, translating to over 40,000 luxury unit lease-ups. Vacancies for luxury buildings are expected to drop by another 0.5 points by the end of the year.
According to Apartments.com’s May 2025 renter survey, 82% of renters rank price in their top three most important considerations when selecting their next place. However, this increase in 4- and 5-star lease-ups shows that renters are opting for the higher price tag that typically comes with higher quality.
4- and 5-star buildings are defined by the CoStar Building Rating System as reflecting contemporary architectural designs and featuring high-quality finishes and on-site community amenities like a fitness center or pool.
August 2025 Rent Increases by City
New York took Seattle’s spot in the top five cities with the biggest rent increases in August with a year-over-year increase of 4.1%. The average rent in New York is now $4,036 per month.
Here are the cities with the biggest rent increases in August:
- Brookline, MA: +5.3%
- Chicago, IL: +4.9%
- Brooklyn, NY: +4.5%
- New York, NY: +4.1%
- Columbus, OH: +4.1%
August 2025 Rent Decreases by City
Florida’s rent decrease accelerated in August, with Cape Coral, Sarasota, Naples, and Fort Myers seeing even bigger rent decreases than in July.
Here are the cities with the biggest rent decreases in August:
- Cape Coral, FL: -8.7%
- Sarasota, FL: -4.6%
- Naples, FL: -4.3%
- Fort Myers, FL: -2.5%
- Colorado Springs, CO: -1.9%
Current Rent Prices Across the US
|
City |
Current Average Rent |
Last Month’s Average Rent |
Year-Over-Year Difference |
|
$2,388 |
$2,391 |
+1.6% |
|
|
$1,628 |
$1,631 |
+1.1% |
|
|
$1,424 |
$1,437 |
-3.2% |
|
|
$3,517 |
$3,513 |
+1.8% |
|
|
$1,644 |
$1,639 |
+1.1% |
|
|
$2,922 |
$2,906 |
+1.6% |
|
|
$1,801 |
$1,810 |
+0.2% |
|
|
$1,485 |
$1,485 |
-0.5% |
|
|
$1,960 |
$1,963 |
+4.8% |
|
|
$1,113 |
$1,115 |
+1.5% |
|
|
$1,305 |
$1,317 |
-4.3% |
|
|
$1,157 |
$1,163 |
+1.5% |
|
|
$1,410 |
$1,417 |
-0.4% |
|
|
$1,656 |
$1,670 |
-2.4% |
|
|
$2,229 |
$2,240 |
+0.5% |
|
|
$1,281 |
$1,284 |
+0.6% |
|
|
$3,796 |
$3,772 |
+3% |
|
|
$1,708 |
$1,706 |
+1.8% |
|
|
$1,195 |
$1,197 |
-0.6% |
|
|
$1,117 |
$1,125 |
+1.7% |
|
|
$2,996 |
$2,937 |
+1.7% |
|
|
$1,300 |
$1,310 |
-1.4% |
|
|
$3,213 |
$3,221 |
+1.8% |
|
|
$1,201 |
$1,199 |
+2% |
|
|
$1,277 |
$1,287 |
-2% |
|
|
$1,801 |
$1,800 |
+0% |
|
|
$2,188 |
$2,189 |
+0.5% |
|
|
$1,467 |
$1,463 |
+2.2% |
|
|
$2,189 |
$2,193 |
+0.8% |
|
|
$1,185 |
$1,185 |
+1.9% |
|
|
$1,391 |
$1,391 |
+2.8% |
|
|
$1,692 |
$1,706 |
-0.4% |
|
|
$4,035 |
$4,027 |
+2.8% |
|
|
$1,580 |
$1,587 |
-0.5% |
|
|
$1,747 |
$1,751 |
+1.5% |
|
|
$1,315 |
$1,322 |
-3% |
|
|
$1,378 |
$1,383 |
+2.4% |
|
|
$1,537 |
$1,535 |
+0.4% |
|
|
$3,474 |
$3,453 |
+2.5% |
|
|
$1,391 |
$1,401 |
+0.2% |
|
|
$1,411 |
$1,422 |
+2% |
|
|
$1,577 |
$1,581 |
+0.2% |
|
|
$1,128 |
$1,124 |
+2.3% |
|
|
$1,094 |
$1,102 |
-1.8% |
|
|
$2,379 |
$2,363 |
+0.2% |
|
|
$3,095 |
$3,057 |
+5.8% |
|
|
$2,686 |
$2,680 |
+3.5% |
|
|
$2,134 |
$2,138 |
+3.2% |
|
|
$1,657 |
$1,661 |
+1.4% |
|
|
$2,300 |
$2,305 |
-0.5% |
How Current Rent Prices Impact Renters
If you’ve been toying with the idea of a move, now’s the time to start looking for a place to live. The rental market is cooling off for the year, and CoStar data projects rent prices to continue a downward trend through the end of 2025.
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 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.
FAQs
What is the average rent in the US right now?
As of September 2025, the average rent in the US is $1,640 per month, a year-over-year increase of 0.9%.
Which states had the largest rent increases in August 2025?
The states with the largest rent increases in August 2025 were North Dakota, Illinois, and Rhode Island. North Dakota’s rent increased by 4.1% compared to last year, Illinois’ increased by 3.9%, and Rhode Island’s increased by 3.5%.
Which states have the cheapest rent right now?
The states with the lowest rent prices are Oklahoma, West Virginia, and Arkansas. Oklahoma has the cheapest average rent price in the U.S. at $907 per month.
Are rent prices rising or falling in the US?
Rent prices in the US are rising, averaging 0.9% more than last year.
