We analyzed our rental data from the last year to identify key national and regional rent trends across 100 major cities in the US. To receive monthly dispatches on national rent trends, subscribe to our Monthly Rent Trends newsletter on LinkedIn.
Smaller apartments saw bigger rent drops this year, according to our data. From March onward, the national median rent price for a one-bedroom apartment was consistently either flat or lower YoY. Looking across the entire year, asking prices for one-bedroom apartments were on average 1.72% lower than in 2024. Prices for studio apartments saw an even bigger drop. The national median asking price for a studio apartment was flat or lower YoY every month of 2025 except for February. On average, renters paid about 2.81% less for a new lease on a studio in 2025 than in 2024.
While there is plenty of demand for one-bedroom and studios, they can be harder to fill than larger units in pricier markets. Studios and one-bedroom apartments tend to attract high-earning solo renters (or, in some cases, couples), while larger units can be more affordable for those willing to rent with a larger group. For reference, the average median asking price for a one-bedroom across the year was about $1,539. Compare that with a two-bedroom ($1,656) or three-bedroom ($2,001), and you’ll begin to see why renters priced out of solo living often look for a larger unit that they can split with more roommates.
The high barrier to entry to solo living — coupled with the strong pipeline of new supply that we saw in 2025 — has led to rent declines for studios and one-bedrooms in markets across the country.
We’ve been consistently reporting on price hikes in the Midwest since 2024. (fact check) All signs point to the trend continuing, thanks to high demand, restrictive zoning, and a lack of sufficient new supply.
The Midwest had the largest YoY price increases for one-bedroom apartments of any other region in the country in 2025, bucking the national trend. The Midwest has long been known for its affordability and stable, if not flashy, economy — and compared with coastal markets, it still presents an opportunity for renters to get more bang for their buck. However, it is no longer the “hidden gem” it once was. Steady in-migration to Midwestern states (largely from abroad) has driven up demand in key markets, leading to soaring rent prices as investment in new supply has lagged.
The region presents opportunity for developers, but it does not come without its challenges. Importantly, the Midwest is largely zoned for single-family homes, preventing new dense multifamily construction even in some of its busiest urban centers. This year, we found that Milwaukee, WI had one of the highest rate increases (+11.63% YoY) for one-bedroom apartments in the country — which is unsurprising, given that it also has more restrictive zoning than almost any other metro area. Columbus, OH (+9.82% YoY) — another city mostly zoned for single-family housing — wasn’t very behind, though recent legislative changes have led to more inclusive zoning laws in the city.
For about five years now, the population is the Southwest has been exploding — creating new, tech-driven boomtowns out of cities like Phoenix, AZ and Austin, TX. The new demand in the desert — along with the COVID pandemic — contributed to skyrocketing rents in the early 2020s. Luckily, there is no shortage of space or interest for development. In recent years, the region has also led the nation in new construction projects. The construction has been paying off for renters, specifically in Phoenix, Austin, and San Antonio, TX, where rent prices are the lowest they’ve been in five years.
The question is: How long will this last?
Typically, new supply gets absorbed quickly in high-growth cities. In Phoenix, for example, nearly 100% of new housing units completed in 2024 were filled within six months. While new housing continued to hit the market throughout 2025 and in-migration has slightly slowed down compared to a few years ago, there remains a healthy demand for rental units in key Southwest markets. The significant dips in rent price are likely temporary, with rent growth expected within the next two years.
Below is a brief summary of notable rent trends throughout the past year.
Rent Trend Roundup: Notable Stories from Across the Nation
Dive deeper into our rent trend coverage from this past year.
Each month, ApartmentAdvisor publishes a National Rent Report that includes national rent trend data as well as rent price data by state and by city. To create this report, we looked at our rental data from each month of 2025.
ApartmentAdvisor data is based on data from 12+ partners. The set of 100 large cities highlighted in our report is primarily determined by overall population size, however we include some smaller cities with relatively high populations for the home state (e.g. Burlington, VT and Portland, ME) and we exclude some highly populated cities due to their proximity to other major metro areas (eg. Garland, TX is not included due to its proximity to Dallas).
We take all the unique apartments that were available for any amount of time during a time period, deduplicate them by unit type, and remove unreliable listings. We use a minimum threshold of units for cities to ensure that data is accurate. Luxury bias is removed by focusing on median figures instead of averages.
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