We calculated the most competitive rental markets in the U.S. right now, using our rental data as well as the Q2 vacancy rates released by the U.S. Census Bureau in August 2025. The Rochester, NY metro area came out on top.

When we talk about competitive housing markets, we often picture densely packed urban hubs like New York, Boston, and San Francisco. While it’s true that these cities do have tough-to-navigate housing centers that leave renters scrambling for units they can afford, the problem is not limited to the coasts. Time and time again, our Most Competitive Rental Markets report has revealed hot rental markets where days on market are below average, prices are high, and vacancy rates are dwindling — far outside of these bubbles.

For this report, we found the most competitive rental markets in America. We analyzed 75 of the largest metro areas in the United States, creating a competitiveness score for each metro area based on its vacancy rate, average time on market of apartment listings, and median cost per square foot, based on our own rental data as well as data from the U.S. Census. We also considered year-over-year trends, looking at how the competitiveness score and median cost per square foot has changed when compared with 2024. As explained in our methodology, total scores are a weighted average of these metrics, with the highest scores being most competitive. 

The Top 10 Most Competitive Rental Markets

Below, we've highlighted the top 10 metro areas on our list. You can find the full-ranked list of all 75 metro areas we looked at by scrolling to the bottom of this article.

Rochester, NY is the Most Competitive Rental Market in the Country

Don’t mistake lower prices for lower competitiveness. While New Yorkers may look at Rochester’s median rent prices ($1,200 for a one-bedroom apartment) and see an affordable haven, but the residents of the Flour City would disagree. The Rochester, NY metro area was ranked the No. 1 Most Competitive Rental Market for Q2 2025.

Prices may be below the national median (currently sitting at $1,595 for a one-bedroom apartment), but they’re increasing quickly. Since this time last year, the median cost per square foot for a rental apartment in the Rochester metro area has jumped from $1.45 per square foot to $1.65 — that’s a nearly 14% increase. Last year, the median asking rent price for a one-bedroom was just $995 a month. And despite these higher prices, apartments are moving faster than ever; the average time on market for a rental apartment in the Rochester area decreased by about 8 days in the last year.

What’s happening in Rochester is a common phenomenon; because costs tend to be on the lower side, renters and homebuyers who are priced out of their cities decide to move to Rochester instead, while continuing to work at their remote, higher-paying jobs. The market adjusts to these higher incomes, and current residents earning the median income for the area begin to be priced out. Rochester renters who aspire to one day become homeowners may continue to rent as they struggle to compete in the bidding wars, stressing the rental market. For its part, the city has been a national leader in permitting new housing units. However, to keep up with expected demand, Rochester would need to add at least 24,000 housing units by 2040 to stave off a housing shortage.

It’s Not Easy to Be a Renter in the Lehigh Valley

In a similar turn, Pennsylvania’s Lehigh Valley — the Allentown-Bethlehem-Easton, PA-NJ metro area — was ranked the No. 2 Most Competitive Rental Market in our newest report.

The Bethlehem metro area, just an hour and a half commute from both Philadelphia and New York City, has undergone a complete transformation in the last 20 years. The GDP has been increasing as the manufacturing industry remains strong, and the relatively affordable prices have attracted more and more young professionals and families. Since 2020, the Lehigh Valley has seen significant inbound migration. While this has led to positive changes for the metro area, it has also led to increased competition for housing. The median asking price for a one-bedroom apartment is 16% higher this year (now $1,450) when compared with 2024 ($1,250), and the vacancy rate has dropped by about 25% in that time. Renters also need to compete with students attending the area’s 11 universities.

Because of the influx of new residents and students, and a lack of new construction, the Lehigh Valley is suffering from a mismatched housing supply. According to a report created by the Lehigh Valley Planning Commission, higher-income households have no choice but to rent or buy housing below what they can afford, while lower-income households are being forced to make ends meet with more expensive units. So far, Bethlehem, PA has developed an ambitious plan for reducing this housing deficit, but only time will tell how effectively it can implement the changes.

The Grand Rapids Metro Area Enters the Top 10 Hottest Markets List

Housing construction has been top of mind for legislators in the Grand Rapids-Wyoming, MI metro area as the divide between housing prices and income widens, but it’s still a work in progress. The metro area had the fourth lowest vacancy rate on our list, hovering at around 3% — far below the 7.7% average we see across all 75 metros that we looked at. While a report completed by Housing Next, an organization lobbying for more affordable housing in Michigan, found that for-sale homes are the most in-demand housing units in the area, there is still a deficit of around 12,000 rental units.

The Full List

Below is the full-ranked list of all 75 MSAs we analyzed.

The Most Competitive U.S. Rental Markets in Q2 2025