{"id":103034,"date":"2020-03-16T00:11:05","date_gmt":"2020-03-16T07:11:05","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=103034"},"modified":"2022-10-09T05:36:11","modified_gmt":"2022-10-09T12:36:11","slug":"february-2020-national-rent-report","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-rent-report\/february-2020-national-rent-report\/","title":{"rendered":"RentCafe National Rent Report: The Average Apartment Rent Was $1,468 in February"},"content":{"rendered":"<h2><strong><em>Key takeaways:<\/em><\/strong><\/h2>\n<ul>\n<li><em>The national average rent in February\u00a02020 was $1,468, up 3.2% compared to the same time last year.\u00a0<\/em><\/li>\n<li><em>The most expensive apartments are in Manhattan, $4,208 per month, while the lowest rents are in Wichita, KS, $665 per month. <\/em><\/li>\n<li><em>Of the largest renter hubs, Seattle apartments saw the highest net increase in rent in one year, $113, while Houston rentals saw the lowest rise in price, $21, compared to February 2019.<\/em><\/li>\n<\/ul>\n<p><script id=\"infogram_0_6233df3d-50fe-4cd1-a8d0-b85f5eceb3a9\" title=\"National Average Rent Evolution_February\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?pIZ\" type=\"text\/javascript\"><\/script><\/p>\n<h2>The February national average rent went up by 3.2% year-over-year<\/h2>\n<p>The average apartment rent was\u00a0$1,468 in February, up $46 since last year, according to apartment data from <a href=\"https:\/\/www.yardimatrix.com\/\">Yardi Matrix<\/a>. February apartment rents maintained the same pace as in January, rising by 3.2% year-over-year.\u00a0Overall, rents are growing a bit slower than the same time last year, when they were rising at\u00a0a 3.5% yearly rate.<\/p>\n<p>A decade of thriving apartment construction and lower interest rates is expected to put\u00a0some pressure on rent prices nationwide. At the same time, the largest\u00a0job powerhouses\u00a0in the country continue to demand high prices as they remain attractive to\u00a0talent in search of higher incomes and vibrant lifestyles.<\/p>\n<p class=\"p1\">According to Doug Ressler, manager of business intelligence at Yardi Matrix, the housing market was strong in February but will likely be affected by the COVID-19 pandemic. <strong><em>The economy still stands to benefit from\u00a0ultraslow\u00a0rates. Homeowners are refinancing while renters are seeing\u00a0normalized rent growth which reduces their monthly payments and allows them to spend in other areas.\u00a0We haven\u2019t seen the impact of the COVID-19 pandemic in official data yet, as\u00a0February employment growth was very strong, jobless claims did not increase and rent growth continued its steady increase. However,\u00a0the coming weeks and months will likely come with employment cuts and a slowdown in trade.<\/em><\/strong><\/p>\n<p><em><strong id=\"map\">Check out the interactive map below to find out more about average rent prices in small, mid-sized, and large U.S. cities<\/strong><\/em>:<\/p>\n<div id=\"viz1584006171190\" class=\"tableauPlaceholder\" style=\"position: relative;\"><noscript><a href='#'><img alt=' ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Ap&#47;ApartmentMarketReport-February2020&#47;RentReport&#47;1_rss.png' style='border: none' \/><\/a><\/noscript><object class=\"tableauViz\" style=\"display: none;\" width=\"300\" height=\"150\"><param name=\"host_url\" value=\"https%3A%2F%2Fpublic.tableau.com%2F\" \/><param name=\"embed_code_version\" value=\"3\" \/><param name=\"site_root\" value=\"\" \/><param name=\"name\" value=\"ApartmentMarketReport-February2020\/RentReport\" \/><param name=\"tabs\" value=\"no\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/Ap\/ApartmentMarketReport-February2020\/RentReport\/1.png\" \/><param name=\"animate_transition\" value=\"yes\" \/><param name=\"display_static_image\" value=\"yes\" \/><param name=\"display_spinner\" value=\"yes\" \/><param name=\"display_overlay\" value=\"yes\" \/><param name=\"display_count\" value=\"yes\" \/><param name=\"filter\" value=\"publish=yes\" \/><\/object><\/div>\n<p><script type='text\/javascript'>                    var divElement = document.getElementById('viz1584006171190');                    var vizElement = divElement.getElementsByTagName('object')[0];                    vizElement.style.width='100%';vizElement.style.height=(divElement.offsetWidth*0.75)+'px';                    var scriptElement = document.createElement('script');                    scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';                    vizElement.parentNode.insertBefore(scriptElement, vizElement);                <\/script><\/p>\n<h2><strong>70% of the largest renter hubs have rents below the national average<\/strong><\/h2>\n<p>14 out of the 20 largest apartment hubs have kept rental rates below the $1,468 national mark in February. Five of these cities are from <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tx\/\">Texas<\/a>. Specifically, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/austin-tx\/\">Austin<\/a> is the priciest renter hub in the southern state, with a $1,439 average rate, while <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-antonio-tx\/\">San Antonio apartments<\/a> ($1,049) are the cheapest for renters. Meanwhile, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/dallas-tx\/\">Dallas<\/a> apartments rented for $1,250 on average in February, while <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/fort-worth-tx\/\">rentals in Fort Worth<\/a> went for $1,128. After a year of subdued growth, Houston\u2019s $1,118 average rent was slightly lower than in most Texas apartment hubs.<\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chicago-il\/\">Chicago<\/a> ($1,943) dethroned Houston as the renter hotspot with the slowest yearly increases in February, after a 1.8% rise since 2019. Houston ($1,118), <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/manhattan-ny\/\">Manhattan<\/a> ($4,208) and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/los-angeles-ca\/\">Los Angeles apartments<\/a> ($2,524) closely follow, with rates going up by 1.9% in all three. While rents in these hubs continue to rise, a spillover effect has begun taking hold of the nation\u2019s most expensive cities. In the past decade, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/new-york-city-ny\/\">New York<\/a>, Los Angeles and Chicago had <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/renting-america-housing-changed-past-decade\/#migration\">the highest internal population loss<\/a> out of all U.S. metros. Their residents moved mostly to cheaper nearby cities, partly explaining why rates rose at a slower pace than in other areas.<\/p>\n<p><script id=\"infogram_0_7295acad-32a2-4fae-b923-08ede93560f6\" title=\"Avg Rent by MegaHubs - February-graph\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?irg\" type=\"text\/javascript\"><\/script><\/p>\n<h2><strong>Large cities: Rents in the South and Southwest are rising the fastest<\/strong><\/h2>\n<p>Southern and southwestern cities take up three spots among the top five large cities with the fastest-growing rents. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/phoenix-az\/\">Phoenix apartments<\/a> take the lead after a 9.6% yearly increase, which brought their average rate up to $1,141. The <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/az\/\">Arizona<\/a> job hub has grown exponentially in the past few years, especially as it&#8217;s become a <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/renting-america-housing-changed-past-decade\/#migration\">prime migration spot<\/a> for residents from more expensive cities in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ca\/\">California<\/a>.<\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/nashville-tn\/\">Nashville<\/a> ($1,428) and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/\">Charlotte<\/a> ($1,259) also made it to the top five, with their average prices going up by 6.3% and 5.6%, respectively. Both cities are going through a period of rapid development and are now increasingly known as \u201csouthern boomtowns\u201d. Around the country, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/baltimore-city-md\/\">apartments in Baltimore<\/a> were 2.1% pricier compared to February last year, Seattle rates went up by 5.5%, while <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/philadelphia-pa\/\">Philadelphia rentals<\/a> saw a 3.6% yearly price hike.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-103355 size-full\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Large-Cities-map_rent-report-new-1.png\" alt=\"\" width=\"904\" height=\"647\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Large-Cities-map_rent-report-new-1.png 904w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Large-Cities-map_rent-report-new-1.png?resize=500,358 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Large-Cities-map_rent-report-new-1.png?resize=768,550 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Large-Cities-map_rent-report-new-1.png?resize=150,107 150w\" sizes=\"auto, (max-width: 904px) 100vw, 904px\" \/><\/p>\n<h2>Mid-sized cities: The slowest rising apartment rates are in the South<\/h2>\n<p>While rents are growing the fastest in large southern cities, the opposite is true when it comes to their mid-sized counterparts. Prices for <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/lexington-ky\/\">rentals in Lexington, KY<\/a> ($914) increased the slowest in the past year, going up by 1.3% since February 2019. Global business hub Miami ($1,702) also made it to the ranking after a 1.7% yearly rise, and so did Atlanta ($1,467), where rents went up by 2.2% year-over-year. Around the country, rates for <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/santa-ana-ca\/\">apartments in Santa Ana, CA<\/a> increased by 3.1%; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/colorado-springs-co\/\">Colorado Springs, CO<\/a>, rents went up by 6.1%; and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/pittsburgh-pa\/\">rentals in Pittsburgh, PA<\/a> were 4% more expensive than in February last year.<\/p>\n<p>Other mid-sized cities that registered a rent increase of less than 4% are: <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/aurora-co\/\">Aurora, CO;<\/a> <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/milwaukee-wi\/\">Milwaukee, WI<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/corpus-christi-tx\/\">Corpus Christi, TX<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/minneapolis-mn\/\">Minneapolis, MN<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/cleveland-oh\/\">Cleveland, OH<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/kansas-city-mo\/\">Kansas City, MO<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/st-paul-mn\/\">St. Paul, MN<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/wichita-ks\/\">Wichita, KS<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/saint-louis-mo\/\">St. Louis, MO<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/arlington-tx\/\">Arlington, TX<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/virginia-beach-va\/\">Virginia Beach, VA<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/omaha-ne\/\">Omaha, NE<\/a>.<\/p>\n<p>Rents went up between 4% and 6% in the following mid-sized cities: <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/cincinnati-oh\/\">Cincinnati, OH<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tampa-fl\/\">Tampa, FL<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tulsa-ok\/\">Tulsa, OK<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/sacramento-ca\/\">Sacramento, CA<\/a>;<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ca\/long-beach\/\"> Long Beach, CA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/riverside-ca\/\">Riverside, CA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/new-orleans-la\/\">New Orleans, LA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/anaheim-ca\/\">Anaheim, CA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/raleigh-nc\/\">Raleigh, NC<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/oakland-ca\/\">Oakland, CA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tucson-az\/\">Tucson, AZ<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/albuquerque-nm\/\">Albuquerque, NM<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/stockton-ca\/\">Stockton, CA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/fresno-ca\/\">Fresno, CA<\/a>;<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/bakersfield-ca\/\"> Bakersfield, CA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/mesa-az\/\">Mesa, AZ<\/a>.<\/p>\n<p><a href=\"#fulltable\">See the complete list of cities at the end of this report<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-103357 size-full\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Mid-Size-Cities-map_rent-report-new-1.png\" alt=\"\" width=\"904\" height=\"648\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Mid-Size-Cities-map_rent-report-new-1.png 904w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Mid-Size-Cities-map_rent-report-new-1.png?resize=500,358 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Mid-Size-Cities-map_rent-report-new-1.png?resize=768,551 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Mid-Size-Cities-map_rent-report-new-1.png?resize=150,108 150w\" sizes=\"auto, (max-width: 904px) 100vw, 904px\" \/><\/p>\n<h2><strong>Small cities: Phoenix Metro dominates the ranking of fastest price increases<\/strong><\/h2>\n<p>Two small cities from the Valley of the Sun registered some of the most rapid rate increases in the nation. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/glendale-az\/\">Glendale apartment<\/a> rents went up by 9.2% since February last year, reaching $1,045 \u2014 the third fastest increase in the country. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chandler-az\/\">Chandler<\/a> is also present in the ranking, with a 7.9% increase, which brought its average rent up to $1,390. Both Glendale and Chandler are part of the rapidly evolving Phoenix Metro, which has a significant impact on the runup in rents. In essence, <a href=\"https:\/\/azgovernor.gov\/governor\/news\/2019\/05\/new-arizona-ranks-fourth-nation-gdp-growth\">economic growth<\/a> and migration from California made their mark on the entire area. By comparison, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/modesto-ca\/\">Modesto, CA apartment<\/a> rents went up by 6.3% in February, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/grand-rapids-mi\/\">Grand Rapids, MI apartments<\/a> rented for 5.3% more on average, and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/frisco-tx\/\">Frisco, TX<\/a>\u2019s average rate increased by 3.6% in the past year.<\/p>\n<p>The small cities that hit the top of our list when it comes to rising rents are: <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/huntsville-al\/\">Huntsville, AL<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/pompano-beach-fl\/\">Pompano Beach, FL<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/glendale-az\/\">Glendale, AZ<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ventura-ca\/\">Ventura, CA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/gilbert-az\/\">Gilbert, AZ<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/clovis-ca\/\">Clovis, CA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/scottsdale-az\/\">Scottsdale, AZ<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/broken-arrow-ok\/\">Broken Arrow, OK<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/allentown-pa\/\">Allentown, PA<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/winston-salem-nc\/\">Winston-Salem, NC<\/a>.<\/p>\n<p>However, rents dropped considerably in the following small cities: <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/midland-tx\/\">Midland, TX<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/odessa-tx\/\">Odessa, TX<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/providence-ri\/\">Providence, RI<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/sugar-land-tx\/\">Sugar Land, TX<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/hollywood-fl\/\">Hollywood, FL<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/santa-maria-ca\/\">Santa Maria, CA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/baton-rouge-la\/\">Baton Rouge, LA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/west-valley-city-ut\/\">West Valley City, UT<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/highlands-ranch-co\/\">Highlands Ranch, CO<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/denton-tx\/\">Denton, TX<\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-103358 size-full\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Small-Cities-map_rent-report-new-1.png\" alt=\"\" width=\"904\" height=\"647\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Small-Cities-map_rent-report-new-1.png 904w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Small-Cities-map_rent-report-new-1.png?resize=500,358 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Small-Cities-map_rent-report-new-1.png?resize=768,550 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/03\/Small-Cities-map_rent-report-new-1.png?resize=150,107 150w\" sizes=\"auto, (max-width: 904px) 100vw, 904px\" \/><\/p>\n<h3><\/h3>\n<div><strong id=\"fulltable\"><\/strong>Curious about rents in cities like <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/las-vegas-nv\/\">Las Vegas<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/\">Charlotte<\/a>, or <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/austin-tx\/\">Austin<\/a>? See the average rent price in your city by using this interactive table:<br \/>\n<script id=\"infogram_0_f18f1776-3b9f-4cca-8c3e-09fc8ebaa705\" title=\"Avg Rent by City Type - February2020\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?0BQ\" type=\"text\/javascript\"><\/script><\/p>\n<h3>Read your local rent report:<\/h3>\n<div id=\"\" class=\" magee-shortcode magee-row row\"><br \/>\n<div class=\" magee-shortcode magee-column col-md-6\" id=\"\" style=\"text-align:left;\">\n<ul>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/alabama-rent-report-february-2020\/\">Alabama<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/arkansas-rent-report-february-2020\/\">Arkansas<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/atlanta-ga\/#rent-report\">Atlanta<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/austin-tx\/#rent-report\">Austin<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/boston-ma\/#rent-report\">Boston<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/#rent-report\">Charlotte<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chicago-il\/#rent-report\">Chicago<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/connecticut-rent-report-february-2020\/\">Connecticut<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/denver-co\/#rent-report\">Denver<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/indiana-rent-report-february-2020\/\">Indiana<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/iowa-rent-report-february-2020\/\">Iowa<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kansas-rent-report-february-2020\/\">Kansas<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-february-2020\/\">Kentucky<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/miami-fl\/#rent-report\">Miami<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/michigan-rent-report-february-2020\/\">Michigan<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/minnesota-rent-report-february-2020\/\">Minnesota<\/a><\/li>\n<\/ul>\n<\/div><div class=\" magee-shortcode magee-column col-md-6\" id=\"\" style=\"text-align:left;\">\n<ul>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/mississippi-rent-report-february-2020\/\">Mississippi<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/missouri-rent-report-february-2020\/\">Missouri<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/nebraska-rent-report-february-2020\/\">Nebraska<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-february-2020\/\">New Jersey<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-mexico-rent-report-february-2020\/\">New Mexico<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-york-state-rent-report-february-2020\/\">New York<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/ohio-rent-report-february-2020\/\">Ohio<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/oklahoma-rent-report-february-2020\/\">Oklahoma<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/oregon-rent-report-february-2020\/\">Oregon<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/pennsylvania-rent-report-february-2020\/\">Pennsylvania<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/seattle-wa\/#rent-report\">Seattle<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/tennessee-rent-report-february-2020\/\">Tennessee<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/utah-rent-report-february-2020\/\">Utah<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/washington-dc\/#rent-report\">Washington D.C.\u00a0<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/wisconsin-rent-report-february-2020\/\">Wisconsin<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n<h3><strong><em>Methodology:<\/em><\/strong><\/h3>\n<p><em><a href=\"https:\/\/www.rentcafe.com\/\">RentCafe.com<\/a>\u00a0is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/p>\n<p><em>To compile this report, RentCafe\u2019s research team analyzed rent data across the 260 largest cities in the US.\u00a0The data on average rents comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company <\/em><em><a href=\"https:\/\/www.yardimatrix.com\/\">Yardi Matrix<\/a><\/em><em>, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. The national average rent includes over 130 markets across the U.S., as reported by Yardi Matrix.<\/em><\/p>\n<div class=\"usagerights\">\n<div class=\"fairuse\">\n<h3>Fair use and redistribution<\/h3>\n<p>We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to <a href=\"https:\/\/www.rentcafe.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology. For more in-depth, customized data, please contact us at <a href=\"mailto:media@rentcafe.com\" target=\"_blank\" rel=\"noopener noreferrer\">media@rentcafe.com<\/a>.<\/p>\n<p><!-- This site is converting visitors into subscribers and customers with OptinMonster - https:\/\/optinmonster.com --><br \/>\n<script type=\"text\/javascript\" src=\"https:\/\/a.optmnstr.com\/app\/js\/api.min.js\" data-account=\"63393\" data-user=\"56204\" async=\"\"><\/script><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Key takeaways: The national average rent in February\u00a02020 was $1,468, up 3.2% compared to the same time last year.\u00a0 The most expensive apartments are in Manhattan, $4,208 per month, while the lowest rents are in Wichita, KS, $665 per month. Of the largest renter hubs, Seattle apartments saw the highest net increase in rent in&hellip;<\/p>\n","protected":false},"author":163,"featured_media":103339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4245],"tags":[],"class_list":["post-103034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-apartment-rent-report","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RentCafe National Rent Report: The Average Apartment Rent Was $1,468 in February - RentCafe rental blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-rent-report\/february-2020-national-rent-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RentCafe National Rent Report: The Average Apartment Rent Was $1,468 in February\" \/>\n<meta property=\"og:description\" content=\"Key takeaways: The national average rent in February\u00a02020 was $1,468, up 3.2% compared to the same time last year.\u00a0 The most expensive apartments are in Manhattan, $4,208 per month, while the lowest rents are in Wichita, KS, $665 per month. 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