In the wake of the Covid-19 pandemic, rental rates across the United States have soared to record highs. To help demonstrate the rise in rents, the interactive tools on this page rank the most overvalued rental markets from among the nation’s largest metropolitan areas. Past leasing data from Zillow’s Observed Rent Index (ZORI) is used to model the rental trend for each measured metro. The data shows where rents should be (based on a history of rents) compared with actual, current rents. This premium or discount is defined as the percentage difference between statistically modeled prices and actual rental prices. Actual average rent, statistically predicted rent, month-over-month (M-O-M) change in rent, and year-over-year (Y-O-Y) change in rent for each metro are provided as well.
This ongoing, monthly reported project is co-produced by the Alabama Center of Real Estate at The University of Alabama, the Florida Atlantic University Real Estate Initiative, and Florida Gulf Coast University’s Lucas Institute for Real Estate Development & Finance.
| Location | Average Rent | Where Average Rent Should Be | Premium/Discount | Month Over Month Change | Year Over Year Change | Minimum Annual Income to NOT be Rent Burdened |
|---|---|---|---|---|---|---|
| United States | $1,968.04 | $1,963.71 | 0.22% | 0.24% | 3.46% | $78,722 |
Note about cost-burdened (rent-burdened) households:
The Department of Housing and Urban Development (HUD) defines cost-burdened families as those “who pay more than 30% of their income for housing including utilities and may have difficulty affording necessities such as food, clothing, transportation, or medical care.” All calculations include rent only, not utilities.
| National Population Ranking | Metro Area | Average Rent | Where Average Rent Should Be | Premium/Discount | Month Over Month Change | Year Over Year Change | Minimum Annual Income to NOT be Rent Burdened |
|---|---|---|---|---|---|---|---|
| 292 | Florence, AL | $1,073.26 | $957.93 | 12.04% | -0.04% | 10.73% | $42,930 |
| 406 | Albertville, AL | $1,800.00 | $1,800.00 | 0.00% | 0.00% | 0.00% | $72,000 |
| 788 | Troy, AL | $1,200.00 | $1,200.00 | 0.00% | 0.00% | 0.00% | $48,000 |
| 608 | Ozark, AL | $1,192.17 | $1,043.27 | 14.27% | 3.51% | 18.54% | $47,687 |
| 585 | Enterprise, AL | $1,375.46 | $1,328.62 | 3.53% | 0.61% | 5.37% | $55,019 |
| 508 | Jasper, AL | $1,132.50 | $1,075.42 | 5.31% | -0.85% | 4.20% | $45,300 |
| 443 | Talladega, AL | $1,172.50 | $1,101.12 | 6.48% | -0.81% | 4.78% | $46,900 |
| 357 | Anniston, AL | $990.48 | $931.22 | 6.36% | -0.50% | 5.17% | $39,619 |
| 293 | Dothan, AL | $1,230.06 | $1,154.06 | 6.58% | -0.32% | 6.04% | $49,202 |
| 51 | Birmingham, AL | $1,337.42 | $1,314.96 | 1.71% | 0.48% | 5.16% | $53,497 |
| 276 | Decatur, AL | $1,321.47 | $1,234.98 | 7.00% | -0.31% | 5.27% | $52,859 |
| 253 | Auburn, AL | $1,540.22 | $1,451.52 | 6.11% | 0.12% | 8.97% | $61,609 |
| 203 | Daphne, AL | $1,608.56 | $1,662.10 | -3.22% | -0.28% | 2.26% | $64,342 |
| 188 | Tuscaloosa, AL | $1,548.98 | $1,467.56 | 5.55% | -1.54% | 6.89% | $61,959 |
| 143 | Montgomery, AL | $1,326.54 | $1,274.55 | 4.08% | 0.79% | 5.47% | $53,062 |
| 127 | Mobile, AL | $1,263.17 | $1,225.30 | 3.09% | 0.89% | 2.99% | $50,527 |
| 114 | Huntsville, AL | $1,450.49 | $1,516.22 | -4.34% | -0.61% | 1.12% | $58,020 |
| National Population Ranking | Metro Area | Average Rent | Where Average Rent Should Be | Premium/Discount | Month Over Month Change | Year Over Year Change | Minimum Annual Income to NOT be Rent Burdened |
|---|---|---|---|---|---|---|---|
| 63 | Bakersfield, CA | $1,821.10 | $1,811.32 | 0.54% | 0.58% | 3.80% | $72,844 |
| 75 | Charleston, SC | $1,984.07 | $1,959.87 | 1.23% | -0.18% | 2.65% | $79,363 |
| 74 | Dayton, OH | $1,281.24 | $1,251.95 | 2.34% | 0.18% | 4.51% | $51,249 |
| 73 | North Port, FL | $2,268.27 | $2,285.28 | -0.74% | -0.01% | 2.81% | $90,731 |
| 72 | Columbia, SC | $1,576.08 | $1,524.58 | 3.38% | 0.65% | 5.22% | $63,043 |
| 71 | Oxnard, CA | $3,031.76 | $3,001.89 | 1.00% | 1.11% | 4.66% | $121,271 |
| 70 | Allentown, PA | $1,753.67 | $1,722.37 | 1.82% | 0.43% | 5.72% | $70,147 |
| 69 | El Paso, TX | $1,495.97 | $1,458.42 | 2.58% | 0.26% | 3.51% | $59,839 |
| 68 | New Haven, CT | $1,947.32 | $1,852.37 | 5.13% | -0.23% | 5.69% | $77,893 |
| 67 | McAllen, TX | $1,147.94 | $1,141.43 | 0.57% | 0.82% | 1.39% | $45,918 |
| 66 | Baton Rouge, LA | $1,342.74 | $1,326.00 | 1.26% | -0.55% | 2.12% | $53,709 |
| 65 | Knoxville, TN | $1,794.65 | $1,766.47 | 1.60% | -0.16% | 3.04% | $71,786 |
| 64 | Albany, NY | $1,576.79 | $1,542.84 | 2.20% | -0.06% | 4.51% | $63,072 |
| 76 | Greensboro, NC | $1,461.28 | $1,442.62 | 1.29% | -0.29% | 4.10% | $58,451 |
| 62 | Albuquerque, NM | $1,587.19 | $1,573.49 | 0.87% | 0.24% | 3.10% | $63,488 |
| 61 | Greenville, SC | $1,537.63 | $1,505.73 | 2.12% | 0.69% | 4.95% | $61,505 |
| 60 | Bridgeport, CT | $2,749.05 | $2,627.57 | 4.62% | 1.15% | 7.74% | $109,962 |
| 59 | Omaha, NE | $1,348.47 | $1,311.99 | 2.78% | 0.39% | 5.05% | $53,939 |
| 58 | Worcester, MA | $2,055.52 | $1,982.35 | 3.69% | 0.77% | 7.58% | $82,221 |
| 57 | Fresno, CA | $2,018.57 | $2,036.03 | -0.86% | 0.62% | 3.98% | $80,743 |
| 56 | Tulsa, OK | $1,412.92 | $1,387.04 | 1.87% | -0.19% | 3.35% | $56,517 |
| 55 | Urban Honolulu, HI | $2,745.80 | $2,667.86 | 2.92% | -0.38% | 4.79% | $109,832 |
| 54 | Tucson, AZ | $1,573.84 | $1,607.02 | -2.06% | 0.03% | 1.94% | $62,954 |
| 53 | Grand Rapids, MI | $1,734.25 | $1,724.37 | 0.57% | 0.45% | 4.02% | $69,370 |
| 52 | Rochester, NY | $1,498.05 | $1,437.96 | 4.18% | 1.16% | 6.00% | $59,922 |
| 88 | Madison, WI | $1,650.40 | $1,576.04 | 4.72% | -0.64% | 4.55% | $66,016 |
| 100 | Spokane, WA | $1,474.74 | $1,557.46 | -5.31% | -0.40% | 2.25% | $58,990 |
| 99 | Harrisburg, PA | $1,354.55 | $1,336.37 | 1.36% | 0.16% | 4.71% | $54,182 |
| 98 | Jackson, MS | $1,404.89 | $1,343.94 | 4.53% | 0.45% | 6.62% | $56,195 |
| 97 | Palm Bay, FL | $1,952.20 | $2,010.95 | -2.92% | -0.19% | 2.54% | $78,088 |
| 96 | Augusta, GA | $1,408.88 | $1,374.91 | 2.47% | 0.53% | 5.88% | $56,355 |
| 95 | Durham, NC | $1,622.66 | $1,666.82 | -2.65% | 0.06% | 1.30% | $64,906 |
| 94 | Wichita, KS | $1,113.03 | $1,077.82 | 3.27% | 0.84% | 3.91% | $44,521 |
| 93 | Toledo, OH | $1,142.81 | $1,107.33 | 3.20% | 0.15% | 5.33% | $45,712 |
| 92 | Provo, UT | $1,771.05 | $1,832.52 | -3.35% | -0.77% | 1.47% | $70,842 |
| 91 | Syracuse, NY | $1,543.80 | $1,463.24 | 5.51% | -0.16% | 6.13% | $61,752 |
| 90 | Deltona, FL | $1,876.07 | $1,917.17 | -2.14% | 0.48% | 2.48% | $75,043 |
| 89 | Winston, NC | $1,544.15 | $1,528.99 | 0.99% | -1.14% | 5.60% | $61,766 |
| 51 | Birmingham, AL | $1,337.42 | $1,314.96 | 1.71% | -0.18% | 4.13% | $53,497 |
| 87 | Ogden, UT | $1,624.15 | $1,675.05 | -3.04% | 0.40% | 2.97% | $64,966 |
| 86 | Poughkeepsie, NY | $2,185.68 | $2,162.75 | 1.06% | 0.58% | 4.23% | $87,427 |
| 85 | Springfield, MA | $1,839.47 | $1,773.57 | 3.72% | -0.46% | 4.00% | $73,579 |
| 84 | Des Moines, IA | $1,257.21 | $1,255.65 | 0.12% | 0.13% | 2.00% | $50,288 |
| 83 | Akron, OH | $1,238.36 | $1,188.87 | 4.16% | 0.49% | 4.87% | $49,534 |
| 82 | Lakeland, FL | $1,873.06 | $1,930.12 | -2.96% | 0.51% | 1.75% | $74,922 |
| 81 | Little Rock, AR | $1,214.14 | $1,195.77 | 1.54% | 0.06% | 2.55% | $48,565 |
| 80 | Colorado Springs, CO | $1,793.83 | $1,872.86 | -4.22% | -0.14% | 1.44% | $71,753 |
| 79 | Boise City, ID | $1,738.93 | $1,847.26 | -5.86% | 0.14% | 3.81% | $69,557 |
| 78 | Cape Coral, FL | $2,002.25 | $2,094.07 | -4.38% | -0.20% | -2.10% | $80,090 |
| 77 | Stockton, CA | $2,434.21 | $2,520.03 | -3.41% | 0.16% | 3.38% | $97,368 |
| 13 | Riverside, CA | $2,547.69 | $2,583.68 | -1.39% | 0.46% | 4.32% | $101,907 |
| 25 | Portland, OR | $1,816.77 | $1,857.19 | -2.18% | -0.12% | 3.55% | $72,671 |
| 24 | San Antonio, TX | $1,430.78 | $1,498.75 | -4.53% | 0.48% | -0.78% | $57,231 |
| 23 | Charlotte, NC | $1,753.96 | $1,799.05 | -2.51% | 0.23% | 1.96% | $70,159 |
| 22 | Orlando, FL | $1,978.87 | $2,043.35 | -3.16% | 0.34% | 1.47% | $79,155 |
| 21 | St. Louis, MO | $1,378.33 | $1,327.96 | 3.79% | 0.36% | 5.78% | $55,133 |
| 20 | Baltimore, MD | $1,843.14 | $1,803.55 | 2.20% | 0.31% | 4.57% | $73,726 |
| 19 | Denver, CO | $1,918.03 | $2,005.53 | -4.36% | -0.40% | -0.85% | $76,721 |
| 18 | Tampa, FL | $2,085.24 | $2,093.99 | -0.42% | 0.39% | 3.63% | $83,409 |
| 17 | San Diego, CA | $3,009.81 | $3,040.25 | -1.00% | 0.01% | 3.17% | $120,392 |
| 16 | Minneapolis, MN | $1,636.75 | $1,654.42 | -1.07% | 0.49% | 3.34% | $65,470 |
| 15 | Seattle, WA | $2,224.27 | $2,257.66 | -1.48% | 0.25% | 3.88% | $88,971 |
| 14 | Detroit, MI | $1,449.10 | $1,438.66 | 0.73% | 0.13% | 4.80% | $57,964 |
| 26 | Sacramento, CA | $2,258.62 | $2,342.06 | -3.56% | -0.04% | 3.17% | $90,345 |
| 12 | San Francisco, CA | $2,988.37 | $2,996.25 | -0.26% | 0.43% | 3.96% | $119,535 |
| 11 | Phoenix, AZ | $1,793.68 | $1,919.40 | -6.55% | 0.11% | 0.87% | $71,747 |
| 10 | Boston, MA | $3,077.69 | $2,979.68 | 3.29% | 0.85% | 3.74% | $123,108 |
| 9 | Atlanta, GA | $1,870.87 | $1,957.94 | -4.45% | 0.22% | 1.97% | $74,835 |
| 8 | Miami, FL | $2,693.64 | $2,678.71 | 0.56% | 0.09% | 2.31% | $107,746 |
| 7 | Philadelphia, PA | $1,864.63 | $1,830.98 | 1.84% | 0.24% | 4.48% | $74,585 |
| 6 | Washington, DC | $2,354.77 | $2,289.34 | 2.86% | 0.49% | 4.80% | $94,191 |
| 5 | Houston, TX | $1,666.65 | $1,663.64 | 0.18% | -0.08% | 2.34% | $66,666 |
| 4 | Dallas, TX | $1,719.09 | $1,786.55 | -3.78% | -0.09% | 0.45% | $68,764 |
| 3 | Chicago, IL | $2,026.31 | $1,938.54 | 4.53% | 0.37% | 5.68% | $81,052 |
| 2 | Los Angeles, CA | $2,954.05 | $2,967.01 | -0.44% | 0.76% | 3.58% | $118,162 |
| 39 | Providence, RI | $2,044.45 | $1,973.62 | 3.59% | 0.75% | 6.52% | $81,778 |
| 50 | Buffalo, NY | $1,317.19 | $1,283.55 | 2.62% | -0.02% | 5.28% | $52,687 |
| 49 | Hartford, CT | $1,854.55 | $1,748.52 | 6.06% | 0.26% | 7.84% | $74,182 |
| 48 | Salt Lake City, UT | $1,652.15 | $1,730.33 | -4.52% | -0.10% | 0.99% | $66,086 |
| 47 | New Orleans, LA | $1,625.03 | $1,599.97 | 1.57% | 0.22% | 3.69% | $65,001 |
| 46 | Louisville, KY | $1,378.65 | $1,336.52 | 3.15% | -0.10% | 4.56% | $55,146 |
| 45 | Richmond, VA | $1,643.39 | $1,622.18 | 1.31% | 0.02% | 5.68% | $65,736 |
| 44 | Memphis, TN | $1,410.85 | $1,416.62 | -0.41% | 0.07% | 2.70% | $56,434 |
| 43 | Raleigh, NC | $1,719.67 | $1,766.46 | -2.65% | 0.20% | 1.53% | $68,787 |
| 42 | Oklahoma City, OK | $1,359.39 | $1,334.53 | 1.86% | 0.25% | 3.52% | $54,376 |
| 41 | Milwaukee, WI | $1,414.74 | $1,364.29 | 3.70% | 0.49% | 4.71% | $56,590 |
| 40 | Jacksonville, FL | $1,699.95 | $1,753.04 | -3.03% | 0.05% | 2.05% | $67,998 |
| 1 | New York, NY | $3,193.15 | $3,081.83 | 3.61% | 0.32% | 4.15% | $127,726 |
| 38 | Virginia Beach, VA | $1,751.96 | $1,702.83 | 2.89% | 0.46% | 5.64% | $70,078 |
| 37 | Nashville, TN | $1,834.91 | $1,887.10 | -2.77% | 0.07% | 1.99% | $73,396 |
| 36 | San Jose, CA | $3,235.81 | $3,210.89 | 0.78% | 0.09% | 4.06% | $129,433 |
| 35 | Cleveland, OH | $1,368.36 | $1,300.41 | 5.23% | 0.95% | 7.28% | $54,734 |
| 34 | Indianapolis, IN | $1,513.25 | $1,480.89 | 2.18% | 0.72% | 4.89% | $60,530 |
| 32 | Columbus, OH | $1,458.53 | $1,438.22 | 1.41% | 0.23% | 5.28% | $58,341 |
| 31 | Kansas City, MO | $1,463.24 | $1,422.91 | 2.83% | 0.86% | 5.20% | $58,530 |
| 30 | Las Vegas, NV | $1,760.50 | $1,845.37 | -4.60% | 0.11% | 2.35% | $70,420 |
| 29 | Austin, TX | $1,671.57 | $1,816.27 | -7.97% | -0.06% | -2.66% | $66,863 |
| 28 | Cincinnati, OH | $1,521.05 | $1,490.46 | 2.05% | -0.23% | 4.64% | $60,842 |
| 27 | Pittsburgh, PA | $1,438.30 | $1,410.01 | 2.01% | 0.22% | 3.74% | $57,532 |
| National Population Ranking | Metro Area | Average Rent | Where Average Rent Should Be | Premium/Discount | Month Over Month Change | Year Over Year Change | Minimum Annual Income to NOT be Rent Burdened |
|---|---|---|---|---|---|---|---|
| 37 | Nashville, TN | $1,834.91 | $1,887.10 | -2.77% | 0.07% | 1.99% | $73,396 |
| 65 | Knoxville, TN | $1,794.65 | $1,766.47 | 1.60% | -0.16% | 3.04% | $71,786 |
| 66 | Baton Rouge, LA | $1,342.74 | $1,326.00 | 1.26% | -0.55% | 2.12% | $53,709 |
| 72 | Columbia, SC | $1,576.08 | $1,524.58 | 3.38% | 0.65% | 5.22% | $63,043 |
| 108 | Fayetteville, AR | $1,596.82 | $1,533.77 | 4.11% | 0.86% | 7.33% | $63,873 |
| 110 | Lexington, KY | $1,404.71 | $1,348.87 | 4.14% | -0.29% | 5.82% | $56,188 |
| 155 | Gainesville, FL | $1,648.60 | $1,660.28 | -0.70% | 0.31% | 3.05% | $65,944 |
| 188 | Tuscaloosa, AL | $1,548.98 | $1,467.56 | 5.55% | -1.54% | 6.89% | $61,959 |
| 189 | College Station, TX | $1,800.90 | $1,708.28 | 5.42% | 0.04% | 4.87% | $72,036 |
| 217 | Athens, GA | $1,882.91 | $1,859.39 | 1.26% | 0.12% | 4.41% | $75,317 |
| 72 | Columbia, SC | $1,576.08 | $1,524.58 | 3.38% | 0.65% | 5.22% | $63,043 |
| 253 | Auburn, AL | $1,540.22 | $1,451.52 | 6.11% | 0.12% | 8.97% | $61,609 |
| 529 | Starkville, MS | $1,305.67 | $1,214.33 | 7.52% | 0.32% | 6.21% | $52,227 |
| 564 | Oxford, MS | $2,191.71 | $1,804.70 | 21.44% | -1.89% | 22.30% | $87,668 |
| 29 | Austin, TX | $1,671.57 | $1,816.27 | -7.97% | -0.06% | -2.66% | $66,863 |
| 42 | Oklahoma City, OK | $1,359.39 | $1,334.53 | 1.86% | 0.25% | 3.52% | $54,376 |