Living on rent in US cities is getting expensive again; Midwest takes the lead in new top 10 list

Rent prices are climbing across many United States cities, and a new analysis by SmartAsset using Zillow data highlighted the top 10 cities experiencing the fastest rent growth between February 2024 and February 2025.

As per the report, Newark city in New Jersey, just outside New York City, saw the sharpest rise in the rent prices. The average rent price went up by 8.1 per cent to $2,241 from $2,073. Although Newark’s rents have surged by 45.6 per cent over the last five years, it still trails the eye-watering figures of cities like Boston or San Francisco.

The SmartAsset analysis, reportedly, showed that rent prices have surged in the Midwest, a region traditionally known for its affordability.

Midwest cities see strongest growth

As per the analysis, Cleveland of Ohio state ranked second in the list, and it saw a 7.3 per cent rise in the rent price. The average rent has risen to $1,303. Other cities like Fort Wayne in Indiana and Milwaukee in Wisconsin saw an increase of over 6 per cent. Meanwhile, Toledo and Detroit recorded gains in rent price just under the 6 per cent mark.

Rents have increased in the Midwest because there is a greater demand for homes than there is supply.

Reportedly, the experts have pointed to stable insurance costs, lower property taxes, and a steady housing market as key drivers behind this surge, especially as the South is seeing rising insurance costs.

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Coastal cities still most expensive

Even with more subdued rent increases, coastal municipalities are the most expensive. Boston now has the highest average rent at $3,495, whereas New York City comes very close. Other California cities like San Francisco, Irvine, San Jose, and San Diego—all have average rents over $3,000.

Conversely, cities such as Wichita, Kansas are still among the lowest, with mean monthly rents at $1,063.

Cities where rents are falling

All cities are experiencing rent increases. In the past year, rentals have decreased in six of the largest cities. Aurora, Colorado, saw the biggest decline at 3.1 per cent, followed by a 2.3 per cent reduction in Austin, Texas, a change due to more housing supply after a rush of new building permits.

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Top 10 cities where rent grew the fastest (2024–2025)

1. Newark, NJ – 8.1%
2. Cleveland, OH – 7.3%
3. Columbia, SC – 6.7%
4. Fort Wayne, IN – 6.2%
5. Milwaukee, WI – 6.2%
6. St. Petersburg, FL – 6.1%
7. Toledo, OH – 5.9%
8. Detroit, MI – 5.8%
9. Lexington, KY – 5.7%
10. Rochester, NY – 5.5%

FAQs

Q: Why are rents increasing more quickly in the Midwest?
A: Stable insurance premiums, reduced property taxes, and a balanced housing market are making the Midwest appealing, resulting in increased demand and increasing rents.

Q: Are coastal cities still the most expensive places to rent?
A: Yes, Boston, New York, and many in California are still the priciest, even with slow rent growth.