Highlights. Average rent prices have increased 8.85% per year since 1980, consistently outpacing wage inflation by a significant margin; 2021 was an exceptionally volatile year for the market, which appears to continue in 2022.
- According to some measurements, the national average rent increased over 18% year-over-year (YoY) from the first quarter of 2021 to the first quarter of 2022.
- The nationwide average monthly rent in August 2022 was $1,388.
- The median rent in July 2022 was $1,879 for the 50 largest Metropolitan areas in the U.S.
- 77.9% of renters pay rent in full and on time.
- 45.0% is their average rent-to-income ratio.
| Year | Median Monthly Rent | Average Annual Change |
|---|---|---|
| 2023 | $1,180 (FMR) | +8.96% |
| 2022 | $1,083 (FMR) | -9.07% |
| 2021 | $1,191 | +8.67% |
| 2020 | $1,096 | +3.20% |
| 2019 | $1,062 | +3.81% |
| 2018 | $1,023 | +4.18% |
| 2017 | $982 | +3.44% |
| 2016 | $949 | +2.26% |
| 2015 | $928 | +0.87% |
| 2014 | $920 | +1.77% |
| 2013 | $904 | +1.69% |
| 2012 | $889 | +2.07% |
| 2011 | $871 | +3.57% |
| 2010 | $841 | +7.84% |
| 2005 | $604 | +0.07% |
| 2000 | $602 | -1.62% |
| 1995 | $655 | +9.31% |
| 1990 | $447 | +0.69% |
| 1985 | $432 | +15.6% |
| 1980 | $243 | +3.03% |
| 1975 | $211 | +19.1% |
| 1970 | $108 | +5.21% |
| 1960 | $71 | +6.90% |
| 1950 | $42 | +5.56% |
| 1940 | $27 | N/A |
Average Rent by Year
The U.S. Department of Housing and Urban Development (HUD) defines Fair Market Rent (FMR). The FMR is not the price the average renter pays, however.
- The projected FMR for 2023 is $1,180.
- As of mid-year 2022, monthly rent averaged $1,388 nationwide; the median rent is $1,083.
- As of July 2022, the 50 largest metro areas have a median rent of $1,879.
- From 2010 to 2020, 2011 had the largest YoY rate of rental inflation at 643.5%.
- In the 21stCentury, the median rent increases at an annual rate of 3.15%.
- Throughout 2020, the average rent increased despite massive job losses early on in the pandemic and a continued high unemployment rate.
- Currency values increase at an annual rate of 2.5%; the rent inflation averages 3.2%.
- Within the last 50 years, 1980 had the largest YoY rent increase (11.98%), while 2010 had the smallest YoY decrease (0.25%).
- YoY rent changes have not fallen to a negative rate since 1934.
- 1933 saw the all-time largest YoY rent decrease at -13.48%.
- 1920 had the all-time largest YoY rent increase at 18.42%.
| Year | Average Annual Rent | |
|---|---|---|
| 2021 | $20.28/ft2 | $17,887 |
| 2020 | $18.89/ft2 | $16,661 |
| 2019 | $18.77/ft2 | $16,555 |
| 2018 | $17.99/ft2 | $15,867 |
| 2017 | $17.25/ft2 | $15,215 |
| 2016 | $16.65/ft2 | $14,685 |
| 2015 | $15.91/ft2 | $14,033 |
| 2014 | $14.99/ft2 | $13,221 |
| 2013 | $14.33/ft2 | $12,639 |
| 2012 | $13.83/ft2 | $12,198 |
| 2011 | $13.39/ft2 | $11,810 |
| 2010 | $12.84/ft2 | $11,325 |
| 2009 | $12.75/ft2 | $11,246 |
| 2008 | $13.33/ft2 | $11,757 |
| 2007 | $13.17/ft2 | $11,616 |
| 2006 | $12.77/ft2 | $11,263 |
| 2005 | $12.16/ft2 | $10,725 |
Rent vs. Income by Year
Housing and amenities have changed so much over decades that it makes gauging rental inflation difficult. The rent-to-income ratio, however, indicates rent prices are rising faster than renter incomes.
- The median wage among full-time workers nationwide is $1,045 per week or $50,160 annually* before taxes.
- The average renter spends 45.0% of their income on rent.
- Among female wage earners, the average rent is 49.8% of individual income.
- In 2012, 22.85% was the average rent as a percentage of household income.
- That’s a 24.25% increase in the rent-to-income rate in 8 years – an average annual growth rate of 9.69%.
- The value of the average wage increases at an annual rate of 3.12%.
- Rent prices increase 1.94% faster than wages.
*This figure assumes a standard annual 2-week leave.
| Year | Rent Inflation | Wage Inflation |
|---|---|---|
| 2022 | 4.48% | 5.91% |
| 2021 | 2.25% | 4.56% |
| 2020 | 3.12% | 2.87% |
| 2019 | 3.71% | 3.83% |
| 2018 | 3.62% | 3.62% |
| 2017 | 3.81% | 3.45% |
| 2016 | 3.77% | 1.13% |
| 2015 | 3.57% | 3.48% |
| 2014 | 3.15% | 3.55% |
| 2013 | 2.83% | 1.28% |
| 2012 | 2.65% | 3.12% |
| 2011 | 1.71% | 3.13% |
| 2010 | 0.23% | 2.32% |
| 2009 | 2.28% | -1.51% |
| 2008 | 3.66% | 2.30% |
| 2007 | 4.26% | 4.54% |
| 2006 | 3.57% | 4.60% |
| 2005 | 2.99% | 3.66% |
| 2004 | 2.68% | 4.65% |
| 2003 | 2.93% | 2.45% |
| 2002 | 3.93% | 1.00% |
| 2001 | 4.45% | 2.39% |
| 2000 | 3.63% | 5.53% |
Rent by State & Year
Southern states historically have the lowest rental rates. Alaska and Hawaii have had the highest rates since they became states in the mid-20th Century.
- Arkansas has the lowest FMR among states at $738 for a 2-bedroom unit.
- Among states and territories, Puerto Rico has the lowest FMR at $487 or 34% lower than the FMR in Arkansas.
- Hawaii has the highest FMR for a 2-bedroom at $2,015.
- In 1980, Mississippi had the lowest average rent, whereas in 2000, West Virginia had the lowest rents available.
- Hawaii also had the highest rents in 2000, but in 1980, Alaska’s rents were the highest nationwide.
- Going back to 1940, Mississippi had the lowest rents and the District of Columbia had the highest rents available.
Rent by Year in Alabama
The average rent by year in Alabama increases at a rate on par with the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Alabama was $774, up 73.15% from 2000.
- After adjusting for inflation, the median rent in Alabama increased by 1.47% from 2000 to 2021.
- From 1940 to 2021, rent in Alabama increased at an annual rate of 87.35%.
- After adjusting for inflation, rent in Alabama increased at an annual rate of 4.80% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $12 | $184 |
| 1950 | $25 | $306 |
| 1960 | $45 | $424 |
| 1970 | $69 | $541 |
| 1980 | $188 | $848 |
| 1990 | $325 | $857 |
| 2000 | $447 | $887 |
| 2020 | $811 | $866 |
| 2021 | $861 | $900 |
| 2022 | $829 (FMR) | |
Rent by Year in Alaska
The average rent by year in Alaska increases much slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Alaska was $1,234, up 71.39% from 2000.
- After adjusting for inflation, the median rent in Alaska increased by 7.91% from 2000 to 2021.
- Data before 1960 is unavailable; from 1960 to 2021, rent in Alaska increased at an annual rate of 14.74%.
- After adjusting for inflation, rent in Alaska increased at an annual rate of 0.18% from 1960 to 2020.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1960 | $126 | $1,186 |
| 1970 | $189 | $1,482 |
| 1980 | $368 | $1,659 |
| 1990 | $559 | $1,473 |
| 2000 | $720 | $1,428 |
| 2020 | $1,240 | $1,325 |
| 2021 | $1,259 | $1,315 |
| 2022 | $1,313 (FMR) | |
Rent by Year in Arizona
The average rent by year in Arizona increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Arizona was $1,040, up 68.01% from 2000.
- After adjusting for inflation, the median rent in Arizona increased by 6.60% from 2000 to 2021.
- From 1940 to 2000, rent in Arizona increased at an annual rate of 84.71%.
- After adjusting for inflation, rent in Arizona increased at an annual rate of 4.62% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $18 | $276 |
| 1950 | $37 | $454 |
| 1960 | $69 | $650 |
| 1970 | $109 | $855 |
| 1980 | $264 | $1,190 |
| 1990 | $438 | $1,154 |
| 2000 | $619 | $1,172 |
| 2020 | $1,097 | $1,172 |
| 2021 | $1,253 | $1,309 |
| 2022 | $1,126 (FMR) | |
Rent by Year in Arkansas
The average rent by year in Arkansas increases much slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Arkansas was $698, up 54.08% from 2000.
- After adjusting for inflation, median rent in Arkansas decreased 4.57% from 2000 to 2021.
- From 1940 to 2021, rent in Arkansas increased at an annual rate of 83.13%.
- After adjusting for inflation, rent in Arkansas increased at an annual rate of 4.52% from 1940 to 2020.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $12 | $184 |
| 1950 | $28 | $343 |
| 1960 | $47 | $443 |
| 1970 | $71 | $557 |
| 1980 | $185 | $834 |
| 1990 | $328 | $864 |
| 2000 | $453 | $898 |
| 2020 | $760 | $812 |
| 2021 | $820 | $857 |
| 2022 | $752 (FMR) | |
Rent by Year in California
The average rent by year in California increases faster than any other state (excluding the District of Columbia).
- The 2022 FMR for a 2-bedroom apartment in California was $1,538, up 105.89% from 2000.
- After adjusting for inflation, median rent in California increased 28.01% from 2000 to 2021.
- From 1940 to 2021, rent in California increased at an annual rate of 78.78%.
- After adjusting for inflation, rent in California increased at an annual rate of 4.20% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $27 | $415 |
| 1950 | $42 | $515 |
| 1960 | $79 | $744 |
| 1970 | $126 | $988 |
| 1980 | $283 | $1,276 |
| 1990 | $620 | $1,634 |
| 2000 | $747 | $1,482 |
| 2020 | $1,586 | $1,694 |
| 2021 | $1,750 | $1,828 |
| 2022 | $1,677 (FMR) | |
Rent by Year in Colorado
The average rent by year in Colorado increases much faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Colorado was $1,201, up 78.99% from 2000.
- After adjusting for inflation, median rent in Colorado increased 17.05% from 2000 to 2021.
- From 1940 to 2021, rent in Colorado increased at an annual rate of 82.44%.
- After adjusting for inflation, rent in Colorado increased at an annual rate of 4.46% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $22 | $338 |
| 1950 | $39 | $478 |
| 1960 | $72 | $678 |
| 1970 | $110 | $863 |
| 1980 | $252 | $1,136 |
| 1990 | $418 | $1,102 |
| 2000 | $671 | $1,331 |
| 2020 | $1,335 | $1,426 |
| 2021 | $1,491 | $1,558 |
| 2022 | $1,304 (FMR) | |
Rent by Year in Connecticut
The average rent by year in Connecticut increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Connecticut was $1,366, up 100.59% from 2000.
- After adjusting for inflation, median rent in Connecticut decreased 1.26% from 2000 to 2021.
- From 1940 to 2021, rent in Connecticut increased at an annual rate of 45.13%.
- After adjusting for inflation, rent in Connecticut increased at an annual rate of 1.92% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $34 | $522 |
| 1950 | $45 | $552 |
| 1960 | $77 | $725 |
| 1970 | $127 | $996 |
| 1980 | $260 | $1,172 |
| 1990 | $598 | $1,576 |
| 2000 | $681 | $1,351 |
| 2020 | $1,201 | $1,283 |
| 2021 | $1,277 | $1,334 |
| 2022 | $1,428 (FMR) | |
Rent by Year in Delaware
The average rent by year in Delaware increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Delaware was $1,088, up 70.27% from 2000.
- After adjusting for inflation, median rent in Delaware decreased 0.39% from 2000 to 2021.
- From 1940 to 2021, rent in Delaware increased at an annual rate of 48.48%.
- After adjusting for inflation, rent in Delaware increased at an annual rate of 2.15% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $30 | $461 |
| 1950 | $46 | $564 |
| 1960 | $77 | $725 |
| 1970 | $111 | $871 |
| 1980 | $247 | $1,113 |
| 1990 | $495 | $1,305 |
| 2000 | $639 | $1,267 |
| 2020 | $1,150 | $1,228 |
| 2021 | $1,208 | $1,262 |
| 2022 | $1,179 (FMR) | |
Rent by Year in District of Columbia
The average rent by year in the District of Columbia increases faster than any state or territory.
- The 2022 FMR for a 2-bedroom apartment in D.C. was $1,785, up 188.83% from 2000.
- After adjusting for inflation, median rent in D.C. increased 42.17% from 2000 to 2021.
- From 1940 to 2021, rent in D.C. increased at an annual rate of 44.53%.
- After adjusting for inflation, rent in D.C. increased at an annual rate of 1.88% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $45 | $691 |
| 1950 | $57 | $699 |
| 1960 | $81 | $763 |
| 1970 | $119 | $934 |
| 1980 | $224 | $1,010 |
| 1990 | $479 | $1,262 |
| 2000 | $618 | $1,226 |
| 2020 | $1,607 | $1,717 |
| 2021 | $1,668 | $1,743 |
| 2022 | $1,973 (FMR) | |
Rent by Year in Florida
The average rent by year in Florida increases faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Florida was $1,074, up 67.55% from 2021.
- After adjusting for inflation, median rent in Florida increased 10.78% from 2000 to 2021.
- From 1940 to 2021, rent in Florida increased at an annual rate of 102.78%.
- After adjusting for inflation, rent in Florida increased at an annual rate of 5.83% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $16 | $246 |
| 1950 | $39 | $478 |
| 1960 | $71 | $669 |
| 1970 | $112 | $879 |
| 1980 | $255 | $1,150 |
| 1990 | $481 | $1,268 |
| 2000 | $641 | $1,271 |
| 2020 | $1,218 | $1,301 |
| 2021 | $1,348 | $1,408 |
| 2022 | $1,174 (FMR) | |
Rent by Year in Georgia
The average rent by year in Georgia increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Georgia was $853, up 39.15% from 2000.
- After adjusting for inflation, median rent in Georgia decreased 0.90% from 2000 to 2021.
- From 1940 to 2021, rent in Georgia increased at an annual rate of 108.26%.
- After adjusting for inflation, rent in Georgia increased at an annual rate of 6.20% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $13 | $200 |
| 1950 | $27 | $331 |
| 1960 | $51 | $480 |
| 1970 | $86 | $675 |
| 1980 | $211 | $951 |
| 1990 | $433 | $1,141 |
| 2000 | $613 | $1,216 |
| 2020 | $1,042 | $1,113 |
| 2021 | $1,153 | $1,205 |
| 2022 | $933 (FMR) | |
Rent by Year in Hawaii
The average rent by year in Hawaii increases much faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Hawaii was $1,888, up 142.36% from 2000.
- After adjusting for inflation, median rent in Hawaii increased 18.01% from 2000 to 2021.
- Data before 1960 is unavailable; from 1960 to 2021, rent in Hawaii increased at an annual rate of 38.75%.
- After adjusting for inflation, rent in Hawaii increased at an annual rate of 2.80% from 1960 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1960 | $72 | $678 |
| 1970 | $132 | $1,035 |
| 1980 | $311 | $1,402 |
| 1990 | $650 | $1,713 |
| 2000 | $779 | $1,555 |
| 2020 | $1,651 | $1,764 |
| 2021 | $1,774 | $1,835 |
| 2022 | $2,036 (FMR) | |
Rent by Year in Idaho
The average rent by year in Idaho increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Idaho was $877, up 70.29% from 2000.
- After adjusting for inflation, median rent in Idaho increased 28.21% from 2000 to 2021.
- From 1940 to 2021, rent in Idaho increased at an annual rate of 72.43%.
- After adjusting for inflation, rent in Idaho increased at an annual rate of 3.78% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $21 | $322 |
| 1950 | $44 | $539 |
| 1960 | $65 | $612 |
| 1970 | $92 | $722 |
| 1980 | $218 | $983 |
| 1990 | $330 | $870 |
| 2000 | $515 | $1,021 |
| 2020 | $1,097 | $1,172 |
| 2021 | $1,253 | $1,309 |
| 2022 | $974 (FMR) | |
Rent by Year in Illinois
The average rent by year in Illinois increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Illinois was $829, up 37.02% from 2000.
- After adjusting for inflation, median rent in Illinois decreased 3.67% from 2000 to 2021.
- From 1940 to 2021, rent in Illinois increased at an annual rate of 40.14%.
- After adjusting for inflation, rent in Illinois increased at an annual rate of 1.58% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $33 | $507 |
| 1950 | $47 | $576 |
| 1960 | $85 | $800 |
| 1970 | $124 | $973 |
| 1980 | $246 | $1,109 |
| 1990 | $445 | $1,173 |
| 2000 | $605 | $1,200 |
| 2020 | $1,038 | $1,109 |
| 2021 | $1,106 | $1,156 |
| 2022 | $876 (FMR) | |
Rent by Year in Indiana
The average rent by year in Indiana increases much slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Indiana was $814, up 56.24% from 2000.
- After adjusting for inflation, median rent in Indiana decreased 8.42% from 2000 to 2021.
- From 1940 to 2021, rent in Indiana increased at an annual rate of 45.32%.
- After adjusting for inflation, rent in Indiana increased at an annual rate of 1.93% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $24 | $369 |
| 1950 | $42 | $515 |
| 1960 | $70 | $659 |
| 1970 | $105 | $824 |
| 1980 | $218 | $983 |
| 1990 | $374 | $986 |
| 2000 | $521 | $1,033 |
| 2020 | $844 | $902 |
| 2021 | $905 | $946 |
| 2022 | $862 (FMR) | |
Rent by Year in Iowa
The average rent by year in Iowa increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Iowa was $788, up 67.66% from 2000.
- After adjusting for inflation, median rent in Iowa increased 5.04% from 2000 to 2021.
- From 1940 to 2021, rent in Iowa increased at an annual rate of 44.23%.
- After adjusting for inflation, rent in Iowa increased at an annual rate of 1.86% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $23 | $353 |
| 1950 | $43 | $527 |
| 1960 | $68 | $640 |
| 1970 | $99 | $777 |
| 1980 | $226 | $1,019 |
| 1990 | $336 | $886 |
| 2000 | $470 | $932 |
| 2020 | $806 | $861 |
| 2021 | $847 | $885 |
| 2022 | $832 (FMR) | |
Rent by Year in Kansas
The average rent by year in Kansas increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Kansas was $779, up 56.43% from 2000.
- After adjusting for inflation, the median rent in Kansas decreased 4.45% from 2000 to 2021.
- From 1940 to 2021, rent in Kansas increased at an annual rate of 57.50%.
- After adjusting for inflation, rent in Kansas increased at an annual rate of 2.76% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $19 | $292 |
| 1950 | $38 | $466 |
| 1960 | $66 | $621 |
| 1970 | $94 | $737 |
| 1980 | $218 | $983 |
| 1990 | $372 | $980 |
| 2000 | $498 | $988 |
| 2020 | $863 | $922 |
| 2021 | $904 | $944 |
| 2022 | $828 (FMR) | |
Rent by Year in Kentucky
The average rent by year in Kentucky increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Kentucky was $747, up 67.87% from 2000.
- After adjusting for inflation, the median rent in Kentucky decreased 1.81% from 2000 to 2020.
- From 1940 to 2021, rent in Kentucky increased at an annual rate of 62.81%.
- After adjusting for inflation, rent in Kentucky increased at an annual rate of 3.12% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $16 | $246 |
| 1950 | $31 | $380 |
| 1960 | $55 | $518 |
| 1970 | $83 | $651 |
| 1980 | $198 | $893 |
| 1990 | $319 | $841 |
| 2000 | $445 | $883 |
| 2020 | $783 | $836 |
| 2021 | $830 | $867 |
| 2022 | $795 (FMR) | |
Rent by Year in Louisiana
The average rent by year in Louisiana increases slightly faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Louisiana was $823, up 76.61% from 2000.
- After adjusting for inflation, the median rent in Louisiana increased 4.54% from 2000 to 2021.
- From 1940 to 2021, rent in Louisiana increased at an annual rate of 74.81%.
- After adjusting for inflation, rent in Louisiana increased at an annual rate of 3.95% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $15 | $230 |
| 1950 | $27 | $331 |
| 1960 | $53 | $499 |
| 1970 | $81 | $635 |
| 1980 | $214 | $965 |
| 1990 | $352 | $928 |
| 2000 | $466 | $924 |
| 2020 | $876 | $936 |
| 2021 | $924 | $966 |
| 2022 | $882 (FMR) | |
Rent by Year in Maine
The average rent by year in Maine increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Maine was $963, up 93.76% from 2000.
- After adjusting for inflation, median rent in Maine decreased 0.10% from 2000 to 2021.
- From 1940 to 2021, rent in Maine increased at an annual rate of 45.43%.
- After adjusting for inflation, rent in Maine increased at an annual rate of 1.94% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $25 | $384 |
| 1950 | $41 | $503 |
| 1960 | $64 | $603 |
| 1970 | $90 | $706 |
| 1980 | $216 | $974 |
| 1990 | $419 | $1,104 |
| 2000 | $497 | $986 |
| 2020 | $873 | $933 |
| 2021 | $945 | $987 |
| 2020 | $1,020 (FMR) | |
Rent by Year in Maryland
The annual rent in Maryland increases faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Maryland was $1,276, up 85.20% from 2000.
- After adjusting for inflation, the median rent in Maryland increased 12.66% from 2000 to 2021.
- From 1940 to 2021, rent in Maryland increased at an annual rate of 66.12%.
- After adjusting for inflation, rent in Maryland increased at an annual rate of 3.34% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $27 | $415 |
| 1950 | $46 | $564 |
| 1960 | $78 | $734 |
| 1970 | $127 | $996 |
| 1980 | $266 | $1,199 |
| 1990 | $548 | $1,444 |
| 2000 | $689 | $1,366 |
| 2020 | $1,415 | $1,512 |
| 2021 | $1,473 | $1,539 |
| 2022 | $1,391 (FMR) | |
Rent by Year in Massachusetts
The average rent by year in Massachusetts increases faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Massachusetts was $1,715, up 150.73% from 2000.
- After adjusting for inflation, the median rent in Massachusetts increased by 14.52% from 2000 to 2021.
- From 1940 to 2021, rent in Massachusetts increased at an annual rate of 52.76%.
- After adjusting for inflation, rent in Massachusetts increased at an annual rate of 2.44% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $34 | $522 |
| 1950 | $47 | $576 |
| 1960 | $75 | $706 |
| 1970 | $117 | $918 |
| 1980 | $255 | $1,150 |
| 1990 | $580 | $1,529 |
| 2000 | $684 | $1,357 |
| 2020 | $1,336 | $1,427 |
| 2021 | $1,487 | $1,554 |
| 2022 | $1,770 (FMR) | |
Rent by Year in Michigan
The average rent by year in Michigan increases much slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Michigan was $836, up 53.11% from 2000.
- After adjusting for inflation, the median rent in Michigan decreased by 6.56% from 2000 to 2021.
- From 1940 to 2021, rent in Michigan increased at an annual rate of 35.02%.
- After adjusting for inflation, rent in Michigan increased at an annual rate of 1.23% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $33 | $507 |
| 1950 | $47 | $576 |
| 1960 | $77 | $725 |
| 1970 | $115 | $902 |
| 1980 | $250 | $1,127 |
| 1990 | $423 | $1,115 |
| 2000 | $546 | $1,083 |
| 2020 | $892 | $953 |
| 2021 | $969 | $1,012 |
| 2022 | $879 (FMR) | |
Rent by Year in Minnesota
The average rent by year in Minnesota increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Minnesota was $884, up 56.18% from 2000.
- After adjusting for inflation, the median rent in Minnesota increased by 3.56% from 2000 to 2021.
- From 1940 to 2021, rent in Minnesota increased at an annual rate of 47.84%.
- After adjusting for inflation, rent in Minnesota increased at an annual rate of 2.10% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $28 | $430 |
| 1950 | $43 | $527 |
| 1960 | $72 | $678 |
| 1970 | $117 | $918 |
| 1980 | $236 | $1,064 |
| 1990 | $422 | $1,112 |
| 2000 | $566 | $1,123 |
| 2020 | $1,010 | $1,079 |
| 2021 | 1,113 | $1,163 |
| 2022 | 951 (FMR) | |
Rent by Year in Mississippi
The annual rent in Mississippi increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Mississippi was $749, up 70.62% from 2000.
- After adjusting for inflation, the median rent in Mississippi increased by 0.34% from 2000 to 2021.
- From 1940 to 2021, rent in Mississippi increased at an annual rate of 92.03%.
- After adjusting for inflation, rent in Mississippi increased at an annual rate of 5.11% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $11 | $169 |
| 1950 | $25 | $307 |
| 1960 | $43 | $405 |
| 1970 | $65 | $510 |
| 1980 | $180 | $811 |
| 1990 | $309 | $814 |
| 2000 | $439 | $871 |
| 2020 | $789 | $843 |
| 2021 | $831 | $868 |
| 2022 | $800 (FMR) | |
Rent by Year in Missouri
The average rent by year in Missouri increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Missouri was $750, up 54.96% from 2000.
- After adjusting for inflation, the median rent in Missouri decreased 3.96% from 2000 to 2021.
- From 1940 to 2021, rent in Missouri increased at an annual rate of 48.26%.
- After adjusting for inflation, rent in Missouri increased at an annual rate of 2.13% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $22 | $338 |
| 1950 | $36 | $441 |
| 1960 | $65 | $612 |
| 1970 | $96 | $753 |
| 1980 | $211 | $951 |
| 1990 | $368 | $970 |
| 2000 | $484 | $960 |
| 2020 | $843 | $900 |
| 2021 | $882 | $922 |
| 2022 | $803 (FMR) | |
Rent by Year in Montana
The average rent by year in Montana increases slightly faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Montana was $819, up 83.22% from 2000.
- After adjusting for inflation, the median rent in Montana increased by 4.06% from 2000 to 2021.
- From 1940 to 2021, rent in Montana increased at an annual rate of 46.16%.
- After adjusting for inflation, rent in Montana increased at an annual rate of 1.99% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $23 | $353 |
| 1950 | $41 | $503 |
| 1960 | $66 | $621 |
| 1970 | $89 | $698 |
| 1980 | $200 | $902 |
| 1990 | $311 | $820 |
| 2000 | $447 | $887 |
| 2020 | $836 | $893 |
| 2021 | $883 | $923 |
| 2022 | $885 (FMR) | |
Rent by Year in Nebraska
The average rent by year in Nebraska increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Nebraska was $779, up 58.66% from 2000.
- After adjusting for inflation, the median rent in Nebraska decreased by 2.16% from 2000 to 2021.
- From 1940 to 2021, rent in Nebraska increased at an annual rate of 49.94%.
- After adjusting for inflation, rent in Nebraska increased at an annual rate of 2.25% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $22 | $338 |
| 1950 | $43 | $527 |
| 1960 | $67 | $631 |
| 1970 | $95 | $745 |
| 1980 | $213 | $960 |
| 1990 | $348 | $917 |
| 2000 | $491 | $974 |
| 2020 | $857 | $915 |
| 2021 | $912 | $953 |
| 2022 | $809 (FMR) | |
Rent by Year in Nevada
The average rent by year in Nevada increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Nevada was $1,068, up 52.79% from 2000.
- After adjusting for inflation, the median rent in Nevada increased by 5.55% from 2000 to 2021.
- From 1940 to 2021, rent in Nevada increased at an annual rate of 61.02%.
- After adjusting for inflation, rent in Nevada increased at an annual rate of 3.29% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $26 | $374 |
| 1950 | $47 | $540 |
| 1960 | $91 | $802 |
| 1970 | $141 | $1,035 |
| 1980 | $310 | $1,308 |
| 1990 | $509 | $1,256 |
| 2000 | $699 | $1,299 |
| 2020 | $1,159 | $1,238 |
| 2021 | $1,311 | $1,370 |
| 2022 | $1,158 (FMR) | |
Rent by Year in New Hampshire
The average rent by year in New Hampshire increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in New Hampshire was $1,211, up 87.46% from 2000.
- After adjusting for inflation, the median rent in New Hampshire increased by 10.09% from 2000 to 2021.
- From 1940 to 2021, rent in New Hampshire increased at an annual rate of 58.74%.
- After adjusting for inflation, rent in New Hampshire increased at an annual rate of 3.12% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $26 | $374 |
| 1950 | $41 | $471 |
| 1960 | $65 | $573 |
| 1970 | $99 | $727 |
| 1980 | $251 | $1,059 |
| 1990 | $549 | $1,354 |
| 2000 | $646 | $1,199 |
| 2020 | $1,145 | $1,223 |
| 2021 | $1,263 | $1,320 |
| 2022 | $1,286 (FMR) | |
Rent by Year in New Jersey
The average rent by year in New Jersey increases at a rate on par with the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in New Jersey was $1,545, up 105.73% from 2000.
- After adjusting for inflation, the median rent in New Jersey increased by 9.18% from 2000 to 2021.
- From 1940 to 2021, rent in New Jersey increased at an annual rate of 48.73%.
- After adjusting for inflation, rent in New Jersey increased at an annual rate of 2.40% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $36 | $517 |
| 1950 | $49 | $562 |
| 1960 | $80 | $705 |
| 1970 | $126 | $925 |
| 1980 | $270 | $1,139 |
| 1990 | $592 | $1,460 |
| 2000 | $751 | $1,394 |
| 2020 | $1,368 | $1,461 |
| 2021 | $1,457 | $1,522 |
| 2022 | $1,617 (FMR) | |
Rent by Year in New Mexico
The average rent by year in New Mexico increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in New Mexico was $813, up 61.63% from 2000.
- After adjusting for inflation, the median rent in New Mexico increased by 1.39% from 2000 to 2021.
- From 1940 to 2021, rent in New Mexico increased at an annual rate of 64.56%.
- After adjusting for inflation, rent in New Mexico increased at an annual rate of 3.56% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $17 | $244 |
| 1950 | $41 | $471 |
| 1960 | $71 | $626 |
| 1970 | $88 | $646 |
| 1980 | $215 | $907 |
| 1990 | $372 | $917 |
| 2000 | $503 | $934 |
| 2020 | $857 | $915 |
| 2021 | $906 | $947 |
| 2022 | $899 (FMR) | |
Rent by Year in New York
The average rent by year in New York increases faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in New York was $1,173, up 74.55% from 2000.
- After adjusting for inflation, the median rent in New York increased by 18.04% from 2000 to 2021.
- From 1940 to 2021, rent in New York increased at an annual rate of 43.37%.
- After adjusting for inflation, rent in New York increased at an annual rate of 2.00% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $39 | $561 |
| 1950 | $48 | $551 |
| 1960 | $74 | $652 |
| 1970 | $111 | $815 |
| 1980 | $249 | $1,051 |
| 1990 | $486 | $1,199 |
| 2000 | $672 | $1,247 |
| 2020 | $1,315 | $1,405 |
| 2021 | $1,409 | $1,472 |
| 2022 | $1,234 (FMR) | |
Rent by Year in North Carolina
The average rent by year in North Carolina increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in North Carolina was $865, up 57.85% from 2000.
- After adjusting for inflation, the median rent in North Carolina increased by 5.41% from 2000 to 2021.
- From 1940 to 2021, rent in North Carolina increased at an annual rate of 89.24%.
- After adjusting for inflation, rent in North Carolina increased at an annual rate of 5.35% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $14 | $201 |
| 1950 | $30 | $344 |
| 1960 | $55 | $485 |
| 1970 | $86 | $632 |
| 1980 | $205 | $865 |
| 1990 | $382 | $942 |
| 2000 | $548 | $1,017 |
| 2020 | $932 | $996 |
| 2021 | $1,026 | $1,072 |
| 2022 | $952 (FMR) | |
Rent by Year in North Dakota
The average rent by year in North Dakota increases faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in North Dakota was $798, up 93.69% from 2000.
- After adjusting for inflation, the median rent in North Dakota increased by 14.64% from 2000 to 2021.
- From 1940 to 2021, rent in North Dakota increased at an annual rate of 48.09%.
- After adjusting for inflation, rent in North Dakota increased at an annual rate of 2.35% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $21 | $302 |
| 1950 | $43 | $493 |
| 1960 | $71 | $626 |
| 1970 | $97 | $712 |
| 1980 | $206 | $869 |
| 1990 | $313 | $772 |
| 2000 | $412 | $765 |
| 2020 | $828 | $885 |
| 2021 | $839 | $877 |
| 2022 | $881 (FMR) | |
Rent by Year in Ohio
The average rent by year in Ohio increases much slower than the national average rent inflation rate.
- The 2020 FMR for a 2-bedroom apartment in Ohio was $807, up 56.70% from 2000.
- After adjusting for inflation, median rent in Ohio decreased 4.92% from 2000 to 2021.
- From 1940 to 2021, rent in Ohio increased at an annual rate of 37.13%.
- After adjusting for inflation, rent in Ohio increased at an annual rate of 1.56% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $28 | $402 |
| 1950 | $42 | $482 |
| 1960 | $75 | $661 |
| 1970 | $105 | $771 |
| 1980 | $225 | $950 |
| 1990 | $379 | $935 |
| 2000 | $515 | $956 |
| 2020 | $825 | $881 |
| 2021 | $870 | $909 |
| 2022 | $847 (FMR) | |
Rent by Year in Oklahoma
The average rent by year in Oklahoma increases slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Oklahoma was $776, up 70.18% from 2000.
- After adjusting for inflation, median rent in Oklahoma increased 5.43% from 2000 to 2021.
- From 1940 to 2021, rent in Oklahoma increased at an annual rate of 64.74%.
- After adjusting for inflation, rent in Oklahoma increased at an annual rate of 3.56% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $16 | $230 |
| 1950 | $34 | $390 |
| 1960 | $57 | $502 |
| 1970 | $82 | $602 |
| 1980 | $215 | $907 |
| 1990 | $340 | $839 |
| 2000 | $456 | $847 |
| 2020 | $818 | $874 |
| 2021 | $855 | $893 |
| 2022 | $833 (FMR) | |
Rent by Year in Oregon
The average rent by year in Oregon increases faster than the national average rent inflation rate.
- The 2020 FMR for a 2-bedroom apartment in Oregon was $1,124, up 81.29% from 2000.
- After adjusting for inflation, median rent in Oregon increased 16.33% from 2000 to 2021.
- From 1940 to 2021, rent in Oregon increased at an annual rate of 74.13%.
- After adjusting for inflation, rent in Oregon increased at an annual rate of 4.24% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $21 | $302 |
| 1950 | $44 | $505 |
| 1960 | $70 | $617 |
| 1970 | $107 | $786 |
| 1980 | $257 | $1,085 |
| 1990 | $408 | $1,007 |
| 2000 | $620 | $1,151 |
| 2020 | $1,173 | $1,253 |
| 2021 | $1,282 | $1,339 |
| 2022 | $1,254 (FMR) | |
Rent by Year in Pennsylvania
The average rent by year in Pennsylvania increases slightly slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Pennsylvania was $920, up 73.26% from 2000.
- After adjusting for inflation, median rent in Pennsylvania increased 12.68% from 2000 to 2021.
- From 1940 to 2021, rent in Pennsylvania increased at an annual rate of 47.37%.
- After adjusting for inflation, rent in Pennsylvania increased at an annual rate of 2.30% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $27 | $388 |
| 1950 | $40 | $459 |
| 1960 | $64 | $564 |
| 1970 | $93 | $683 |
| 1980 | $224 | $954 |
| 1990 | $404 | $997 |
| 2000 | $531 | $986 |
| 2020 | $958 | $1,023 |
| 2021 | $1,063 | $1,111 |
| 2022 | $968 (FMR) | |
Rent by Year in Rhode Island
The average rent by year in Rhode Island increases slightly faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Rhode Island was $1,272, up 130.02% from 2000.
- After adjusting for inflation, median rent in Rhode Island increased 16.16% from 2000 to 2021.
- From 1940 to 2021, rent in Rhode Island increased at an annual rate of 49.12%.
- After adjusting for inflation, rent in Rhode Island increased at an annual rate of 2.43% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $28 | $402 |
| 1950 | $40 | $459 |
| 1960 | $62 | $547 |
| 1970 | $93 | $683 |
| 1980 | $222 | $937 |
| 1990 | $489 | $1,206 |
| 2000 | $553 | $1,027 |
| 2020 | $1,031 | $1,101 |
| 2021 | $1,142 | $1,193 |
| 2022 | $1,368 (FMR) | |
Rent by Year in South Carolina
The average rent by year in South Carolina increases slightly slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Rhode Island was $867, up 70.00% from 2000.
- After adjusting for inflation, median rent in Rhode Island increased 7.71% from 2000 to 2021.
- From 1940 to 2021, rent in Rhode Island increased at an annual rate of 99.18%.
- After adjusting for inflation, rent in Rhode Island increased at an annual rate of 6.09% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $12 | $172 |
| 1950 | $26 | $298 |
| 1960 | $49 | $432 |
| 1970 | $77 | $565 |
| 1980 | $206 | $869 |
| 1990 | $376 | $928 |
| 2020 | $918 | $981 |
| 2021 | $976 | $1,020 |
| 2020 | $951 (FMR) | |
Rent by Year in South Dakota
The average rent by year in South Dakota increases slightly slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in South Dakota was $786, up 84.51% from 2000.
- After adjusting for inflation, median rent in South Dakota increased 9.61% from 2000 to 2021.
- From 1940 to 2021, rent in South Dakota increased at an annual rate of 47.56%.
- After adjusting for inflation, rent in South Dakota increased at an annual rate of 2.31% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $21 | $302 |
| 1950 | $42 | $482 |
| 1960 | $67 | $591 |
| 1970 | $88 | $646 |
| 1980 | $188 | $793 |
| 1990 | $306 | $755 |
| 2000 | $426 | $791 |
| 2020 | $761 | $813 |
| 2021 | $830 | $867 |
| 2022 | $848 (FMR) | |
Rent by Year in Tennessee
The average rent by year in Tennessee increases slightly slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Tennessee was $798, up 58.20% from 2000.
- After adjusting for inflation, median rent in Tennessee increased 9.28% from 2000 to 2021.
- From 1940 to 2021, rent in Tennessee increased at an annual rate of 79.51%.
- After adjusting for inflation, rent in Tennessee increased at an annual rate of 4.62% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $15 | $216 |
| 1950 | $31 | $356 |
| 1960 | $52 | $458 |
| 1970 | $82 | $602 |
| 1980 | $203 | $857 |
| 1990 | $357 | $881 |
| 2000 | $505 | $938 |
| 2020 | $897 | $958 |
| 2021 | $981 | $1,025 |
| 2022 | $865 (FMR) | |
Rent by Year in Texas
The average rent by year in Texas increases faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Texas was $898, up 56.45% from 2000.
- After adjusting for inflation, median rent in Texas increased 14.35% from 2000 to 2021.
- From 1940 to 2021, rent in Texas increased at an annual rate of 83.51%.
- After adjusting for inflation, rent in Texas increased at an annual rate of 4.93% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $17 | $244 |
| 1950 | $37 | $425 |
| 1960 | $60 | $529 |
| 1970 | $95 | $698 |
| 1980 | $246 | $1,038 |
| 1990 | $395 | $975 |
| 2000 | $574 | $1,066 |
| 2020 | $1,082 | $1,156 |
| 2021 | $1,167 | $1,219 |
| 2022 | $968 (FMR) | |
Rent by Year in Utah
The average rent by year in Utah increases at a rate on par with the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Utah was $926, up 55.11% from 2000.
- After adjusting for inflation, median rent in Utah increased 13.90% from 2000 to 2021.
- From 1940 to 2021, rent in Utah increased at an annual rate of 63.61%.
- After adjusting for inflation, rent in Utah increased at an annual rate of 3.47% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $23 | $331 |
| 1950 | $40 | $459 |
| 1960 | $66 | $582 |
| 1970 | $97 | $712 |
| 1980 | $235 | $992 |
| 1990 | $369 | $910 |
| 2000 | $597 | $1,108 |
| 2020 | $1,090 | $1,164 |
| 2021 | $1,208 | $1,262 |
| 2022 | $1,017 (FMR) | |
Rent by Year in Vermont
The average rent by year in Vermont increases faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Vermont was $1,077, up 94.76% from 2000.
- After adjusting for inflation, median rent in Vermont increased 13.44% from 2000 to 2021.
- From 1940 to 2021, rent in Vermont increased at an annual rate of 56.12%.
- After adjusting for inflation, rent in Vermont increased at an annual rate of 2.93% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $24 | $345/td> |
| 1950 | $41 | $471 |
| 1960 | $62 | $547 |
| 1970 | $98 | $720 |
| 1980 | $224 | $945 |
| 1990 | $446 | $1,100 |
| 2000 | $553 | $1,027 |
| 2020 | $999 | $1,067 |
| 2021 | $1,115 | $1,165 |
| 2022 | $1,130 (FMR) | |
Rent by Year in Virginia
The average rent by year in Virginia increases faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Virginia was $1,016, up 56.31% from 2000.
- After adjusting for inflation, median rent in Virginia increased 15.24% from 2000 to 2021.
- From 1940 to 2021, rent in Virginia increased at an annual rate of 85.25%.
- After adjusting for inflation, rent in Virginia increased at an annual rate of 5.06% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $19 | $273 |
| 1950 | $39 | $448 |
| 1960 | $71 | $626 |
| 1970 | $115 | $844 |
| 1980 | $259 | $1,093 |
| 1990 | $495 | $1,221 |
| 2000 | $650 | $1,207 |
| 2020 | $1,257 | $1,343 |
| 2021 | $1,331 | $1,391 |
| 2022 | $1,120 (FMR) | |
Rent by Year in Washington
The average rent by year in Washington increases much faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Washington was $1,150, up 73.45% from 2000.
- After adjusting for inflation, median rent in Washington increased 26.00% from 2000 to 2021.
- From 1940 to 2021, rent in Washington increased at an annual rate of 82.04%.
- After adjusting for inflation, rent in Washington increased at an annual rate of 4.82% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $22 | $316 |
| 1950 | $43 | $493 |
| 1960 | $71 | $626 |
| 1970 | $113 | $830 |
| 1980 | $254 | $1,072 |
| 1990 | $445 | $1,098 |
| 2000 | $663 | $1,231 |
| 2020 | $1,337 | $1,428 |
| 2021 | $1,484 | $1,551 |
| 2022 | $1,275 (FMR) | |
Rent by Year in West Virginia
The average rent by year in West Virginia increases at a rate on par with the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in West Virginia was $761, up 89.78% from 2000.
- After adjusting for inflation, median rent in West Virginia increased 7.66% from 2000 to 2021.
- From 1940 to 2021, rent in West Virginia increased at an annual rate of 54.47%.
- After adjusting for inflation, rent in West Virginia increased at an annual rate of 2.82% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2020 US$ |
|---|---|---|
| 1940 | $17 | $244 |
| 1950 | $28 | $321 |
| 1960 | $53 | $467 |
| 1970 | $72 | $529 |
| 1980 | $195 | $823 |
| 1990 | $303 | $748 |
| 2000 | $401 | $744 |
| 2020 | $732 | $782 |
| 2021 | $767 | $801 |
| 2022 | $823 (FMR) | |
Rent by Year in Wisconsin
The average rent by year in Wisconsin increases much slower than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Wisconsin was $853, up 57.96% from 2000.
- After adjusting for inflation, median rent in Wisconsin decreased 3.99% from 2000 to 2021.
- From 1940 to 2021, rent in Wisconsin increased at an annual rate of 35.44%.
- After adjusting for inflation, rent in Wisconsin increased at an annual rate of 1.43% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $31 | $446 |
| 1950 | $49 | $562 |
| 1960 | $79 | $696 |
| 1970 | $113 | $830 |
| 1980 | $234 | $987 |
| 1990 | $399 | $984 |
| 2000 | $540 | $1,003 |
| 2020 | $872 | $932 |
| 2021 | $921 | $963 |
| 2022 | $896 (FMR) | |
Rent by Year in Wyoming
The average rent by year in Wyoming increases slightly faster than the national average rent inflation rate.
- The 2022 FMR for a 2-bedroom apartment in Wyoming was $851, up 94.74% from 2000.
- After adjusting for inflation, median rent in Wyoming increased 15.78% from 2000.
- From 1940 to 2021, rent in Wyoming increased at an annual rate of 49.21%.
- After adjusting for inflation, rent in Wyoming increased at an annual rate of 2.43% from 1940 to 2021.
| Year | Median Gross Rent | Rent Adjusted to 2022 US$ |
|---|---|---|
| 1940 | $22 | $316 |
| 1950 | $41 | $471 |
| 1960 | $67 | $591 |
| 1970 | $87 | $639 |
| 1980 | $252 | $1,063 |
| 1990 | $333 | $822 |
| 2000 | $437 | $811 |
| 2020 | $853 | $911 |
| 2021 | $899 | $939 |
| 2022 | $954 (FMR) | |
Late Rent Payments
Despite pandemic-related market volatility, most renters continue to pay their rent on time.
- Prior to job losses starting in early 2020, it was normal for over 95% of renters to pay their rent within the month.
- Over 80% of renters paid their rent on time prior to plummeting employment rates.
- More than 77% of renters paid their rent on time in the months following the first U.S. quarantines.
- Before the first wave of job losses, 96.03% of renters who did not pay their rent on time did pay it within the month.
- After the early 2020 economic downturn, more than 94.7% of late rental payments were made within the month.
- On average, over 90% of renters paid their rent within the month after March 2020.
Sources
- U.S. Bureau of Labor Statistics (BLS), Consumer Price Index
- BLS, Usual Weekly Earnings of Wage and Salary Workers Fourth Quarter 2020
- U.S. Social Security Administration, Measures of Central Tendency for Wage Data
- U.S. Census Bureau, American Housing Survey Data Tables
- National Multifamily Housing Council, Research & Insight
- National Low Income Housing Coalition, Out of Reach 2020: The High Cost of Housing
- U.S. Department of Housing and Urban Development, Dataset: Fair Market Rents
- Official Data Foundation, Rent Inflation Calculator
- Department of Numbers, US Residential Rent and Rental Statistics
- Apartment List National Rent Report
- ApartmentGuide, Rent Report, December 2021: The State of the Rental Market
- Rent.com, Rent Report April 2022
- Realtor.com, July 2022 Rental Report
- Historical Census of Housing Tables: Gross Rents
- CPI Inflation Calculator
- Nominal Wage Tracker
- American Housing Survey Data
- Average Apartment Size