Top 10 U.S. Cities Where Rents are Growing the Fastest

The cost of renting a home is a big topic for many people across the United States. Renters want to find affordable places. Investors want to know where rents are growing. New data shows which U.S. cities saw the fastest rent increases over the past year.

This news piece shares the latest data from the Waller, Weeks, and Johnson Rental Index for April 2025. We will list the top 10 cities where rent prices grew the most year-over-year. Understanding these trends helps everyone make more informed choices.

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Key Takeaways: U.S. Rent Growth (April 2025)

• Rents are Still Climbing: While U.S. national rent growth is steady, some cities are seeing much sharper increases.

• Strong Local Markets: Many cities on our top 10 list show strong local demand for rental homes.

• Impact on Budgets: Fast rent growth can make living harder for renters. For property owners, it can mean higher income from rentals.

The Latest Rent Trends Across the U.S.

The Waller, Weeks, and Johnson Rental Index tracks how rents change in the 100 biggest U.S. cities. The newest data for May 2025 gives a clear view of where rents are rising fastest.

Across the nation, the average rent grew by about 3.40% over the last year. But as you’ll see, some cities are experiencing much larger jumps. This means rents in these areas are climbing faster than in many other parts of the country.

Related: Real Estate Investors are Buying More Homes in These Affordable Housing Markets

Top 10 U.S. Cities for Year-Over-Year Rent Growth (May 2025)

Here are the U.S. metro areas with the highest year-over-year (YOY) rent price growth, based on the Waller, Weeks, and Johnson Rental Index for April 2025. This list is ranked by the YOY rent price growth.

(Source: Waller, Weeks, and Johnson Rental Index, data as of May 2025)

What This List Shows:

• New Leaders Emerge: Augusta, GA, Winston, NC, and Syracuse, NY, show strong positions at the top of this list for rent growth.

• Continued Growth in Key Cities: Worcester, Columbia, Cleveland, Providence, Chicago, Bridgeport, and Columbus also show significant rent increases.

• Diverse Geographic Spread: The top 10 cities are spread across different U.S. regions, highlighting varied local market strengths.

• Local Focus: This list shows that rent changes are often very local. What happens in one city can be very different from another.

Related: U.S. House Price Forecast for the Next 5 Years

Why Rents are Changing

Many factors cause rents to go up or down in different cities:

• Job Growth: When new jobs open up, more people move to a city. This creates more demand for housing, which pushes rents higher.

• Limited New Homes: If builders don’t construct enough new apartments or houses, the supply can’t keep up with the number of people wanting to rent. This also makes rents rise.

• Population Shifts: People moving from one city to another can quickly change how many homes are needed in local markets.

• Affordability of Buying: If it becomes too expensive to buy a home, more people choose to rent instead. This puts more pressure on rental prices.

• Local Economy: Strong local businesses and industries often lead to higher wages. This means people can pay more for rent, causing prices to go up.

Understanding these reasons helps everyone see why rental costs are changing in their areas.

Related: Top 10 U.S. Cities with Double Digit House Price Growth in 2025

Conclusion: A Dynamic Rental Landscape

The U.S. rental market is always changing. The latest Waller, Weeks, and Johnson Rental Index shows that certain cities are seeing much faster rent growth than the national average. These shifts affect both people who rent and people who own property.

For renters, knowing these trends can help them decide where to live. For property owners and investors, it highlights where rental demand is strong. Staying informed about these local changes is key to understanding the full picture of the U.S. housing market.

Previous Article: U.S. Housing Market Update and Analysis: May 2025

Frequently Asked Questions (FAQs) on U.S. Rent Price Growth

Here are common questions about rising rent prices in U.S. cities.

Q: What is the Waller, Weeks, and Johnson Rental Index?

A: It’s a monthly report that tracks rent changes in the top 100 U.S. cities. It helps people understand if rents are overpriced or underpriced. It also shows how much rents change over time.

Q: Why are rents growing so fast in some cities?

A: Rents grow fast in cities where there are more jobs, new people moving in, and not enough new homes being built. When many people want to rent but there aren’t enough places, rents tend to go up quickly.

Q: What does “Year-over-Year (YOY) Rent Growth” mean?

A: Year-over-Year (YOY) rent growth means how much the average rent in a city has changed compared to the same month one year ago. For example, 6.58% YOY growth means rents are 6.58% higher than they were 12 months ago.

Q: Are rents rising everywhere in the U.S.?

A: No. While the national average rent is seeing some growth, some cities have very fast increases, while others have slower growth or even slight declines. The market is different from city to city.

Q: How can I find out the rent growth for my city?

A: You can often find local rent data from real estate websites like Zillow, Redfin, or Realtor.com. Reports like the Waller, Weeks, and Johnson Rental Index also provide data for many major U.S. cities.

Q: Does high rent growth mean it’s a good city to invest in rental properties?

A: High rent growth can be a good sign for property owners, as it means higher rental income. However, investors should also look at other factors. These include property prices, job growth, and future population changes.

Q: Is there a limit to how high rents can go?

A: Rents are affected by what people can afford to pay. If rents get too high compared to local incomes, growth usually slows down. Also, if more new housing is built, it can help balance the market.