Average Rent Increase Per Year

Last Updated: March 4, 2022

Highlights. The average rent increase per year indicates that, while U.S. rent inflation has slowed somewhat, it continues to outpace wage inflation; it also lags behind residential housing inflation.

  • The weighted average nationwide Fair Market Rent (FMR) for a 2-bedroom apartment increased 13.70% year-over-year (YoY); the average home price increased 18.83%.
  • The average rent increased 2.46% YoY from January 2021 to January 2022 while the real average wage declined 3.10%.
  • The 2-bedroom FMRs for Massachusetts and New York each increased more than 35% from YoY.
  • Rent prices have increased an average 8.86% per year since 1980, consistently outpacing wage inflation by a significant margin.
  • The real average wage declined 26.0% faster than the average rent increased YoY.
National Average Rent Inflation vs. Wage Inflation, 2012 – 2022
Year Rent Inflation Wage Inflation
2022* 2.46% -3.10%
2021 2.25% 6.00%
2020 3.12% 0.00%
2019 3.71% 2.00%
2018 3.62% 0.60%
2017 3.81% -0.50%
2016 3.77% 1.60%
2015 3.57% 2.70%
2014 3.15% 0.30%
2013 2.83% 0.30%
2012 2.65% -0.40%

*January only

National Average Rent Increase by Year

Typically, the average rent increases annually. While rent inflation does not always match currency inflation, experts say the two correlate with the former influencing the latter and vice versa.[1]

  • In the last three (3) years, rents have increased an average 2.61% per year; this is 169% faster than the real average wage as defined by the U.S. Bureau of Labor Statistics.
  • Since 2012, the average annual rent increase has been 3.18%.
  • In the last decade, the average annual rent increase has outpaced the average annual wage inflation by 270%.
  • Also in the last decade, rent inflation has outpaced currency inflation by 40.7%.
  • Since 1970, the average annual rent inflation has outpaced currency inflation 1.27%.
  • Since 1914, currency has inflated or lost purchasing power 20.0% faster than rents increase.

Average Rent & Price Increases Per Year

When the average rent increases, it’s usually accompanied by price hikes in other industries. Among household costs, inflation rates are not equivalent.

  • Home prices increased 31.22% between 2020 and 2022.
  • Energy prices increased 27.0% between January 2021 and January 2022.
  • The YoY rent increase for that same period was 3.8%.
  • Currency inflation was 7.45%.
  • The price of food increased 4.05%.
  • The cost of clothing increased 2.55%.
National Average Rent & Home Price Inflation 1914 – 2011
Year Rent Inflation Home Price Inflation
2011 1.71% -3.89%
2010 0.23% -4.11%
2009 2.28% -3.85%
2008 3.66% -11.99%
2007 4.26% -5.40%
2006 3.57% 1.73%
2005 2.99% 13.51%
2004 2.68% 13.64%
2003 2.93% 9.82%
2002 3.93% 9.56%
2001 4.45% 6.67%
2000 3.63% 9.28%
1999 3.14% 7.68%
1998 3.24% 6.45%
1997 2.91% 4.02%
1996 2.65% 2.42%
1995 2.45% 1.80%
1994 2.44% 2.51%
1993 2.34% 2.16%
1992 2.51% 0.83%
1991 3.55% -0.17%
1990 4.22% -0.69%
1989 3.89% 4.39%
1988 3.81% 7.23%
1987 4.12% 7.84%
1986 5.83% 9.62%
1985 6.14% 7.47%
1984 5.20% 4.67%
1983 5.78% 4.75%
1982 7.60% 0.57%
1981 8.68% 5.08%
1980 8.85% 7.40%
1979 7.31% 13.74%
1978 6.88% 15.71%
1977 6.01% 14.66%
1976 5.41% 8.20%
1975 5.16% 6.76%
1974 5.01% 10.07%
1973 4.36% 3.42%
1972 3.45% 2.98%
1971 4.63% 4.24%
1970 4.13% 8.22%
1969 3.24% 6.99%
1968 2.40% 4.13%
1967 1.80% 2.32%
1966 1.37% 1.22%
1965 0.99% 1.66%
1964 1.04% 1.26%
1963 1.01% 2.14%
1962 1.24% 0.32%
1961 1.27% 0.98%
1960 1.47% 0.77%
1959 1.43% 0.11%
1958 1.83% 0.66%
1957 1.93% 2.72%
1956 1.84% 0.91%
1955 1.40% 0.00%
1954 3.56% 0.92%
1953 5.25% 11.52%
1952 4.18% 4.41%
1951 3.93% 6.05%
1950 3.70% 3.64%
1949 4.34% 0.09%
1948 6.62% 2.06%
1947 3.25% 21.26%
1946 0.64% 24.10%
1945 0.30% 11.78%
1944 0.22% 16.58%
1943 0.00% 11.45%
1942 2.23% 3.33%
1941 1.67% -8.38%
1940 0.24% 3.31%
1939 0.08% -1.30%
1938 3.05% -0.87%
1937 4.93% 2.56%
1936 2.34% 3.22%
1935 0.31% 9.77%
1934 -5.04% 2.91%
1933 -13.48% -3.81%
1932 -11.38% -10.47%
1931 -5.69% -8.15%
1930 -2.92% -4.30%
1929 -2.34% -2.06%
1928 -2.38% 1.49%
1927 -1.66% -3.73%
1926 -1.25% -4.04%
1925 0.37% 5.22%
1924 3.30% 0.19%
1923 2.90% 1.47%
1922 1.89% 1.39%
1921 13.30% -2.24%
1920 18.42% 9.61%
1919 8.97% 9.98%
1918 3.08% 6.37%
1917 -1.17% 2.04%
1916 0.95% 9.48%
1915 0.71% -8.19%
1914 0.00% 3.72%

Historical Average Rent Increase

Rent price increases influence and are influenced by wage inflation, population shifts, vacancies, tax laws, supply chains, and other factors, as well as by major events, such as hurricanes and labor strikes.

  • From 1919 to 1920, rent increased at the fastest rate on record (18.42%).
  • Rent inflation surpassed 13% in 1920 and 1921.
  • The greatest rent reductions occurred in 1933, when the average annual rent shrank 13.48%.
  • Rent deflated an average 8.90% annually from 1931 through 1934.
  • Rent values declined in ten (10) out of the last 108 years, all of them prior to 1935.

Line Graph: Average Annual Rent Change Among Urban Consumers, January Year-over-Year, from 2008 (3.1%), 2009 (1.8%), 2010 (-0.2%), 2011 (0.6%), 2012 (1.9%), 2013 (2.2%), 2014 (2.6%), 2015 (2.9%), 2016 (3.3%), 2017 (3.6%), 2018 (3.2%), 2019 (3.2%), 2020 (3.4%), 2021 (1.6%), and 2022 (4.4%)

Urban Rental Increase Per Year

Rent prices in urban areas tend to be higher than those in suburban or rural settings, but the average urban rent has generally increased at a slower rate than the national average rent in the last decade or so.

  • Urban rent YoY increased 4.4% from January 2021 to January 2022.
  • During this period, urban rent increased 78.9% faster than the average rent nationwide.
  • The 2021 – 2022 YoY increase is the highest of the last decade by 22.2%.
  • January 2020 to January 2021 saw the lowest YoY increase of the last decade at 1.6% (15.8% less than 2012’s YoY increase of 1.9%).
  • Since 2008, the average urban rent has increased at an annual rate of 2.51% or 11.9% slower than the national average rent increase.
Urban Rental Increase Per Year
Year Urban Rent Inflation Rate Urban – National Average Rate Differential
2022 4.4% +1.9%
2021 1.6% -0.7%
2020 3.4% +0.3%
2019 3.2% -0.5%
2018 3.2% -0.4%
2017 3.6% -0.2%
2016 3.3% -0.5%
2015 2.9% -0.7%
2014 2.6% -0.6%
2013 2.2% -0.6%
2012 1.0% -0.8%
2011 0.6% -1.1%
2010 -0.2% -0.4%
2009 1.8% -0.5%
2008 3.1% -0.6%

National Map: Average Annual Rent Increase 2020 - 2021, from the U.S. Department of Housing and Urban Develpment

State Average Annual Rent Increase

Fair Market Rent (FMR) is equivalent to the 40% percentile among rent prices in a given market. State FMR statistics indicate that landlords in some markets may have gouged their tenants in 2021.

  • The FMR for a 2-bedroom apartment increased an average 8.03% among states from 2020 to 2021.
  • This average increase among states was 41.4% lower than the nationwide weighted average increase of 13.70%†.
  • Massachusetts renters paid 38.60% more for a 2-bedroom in 2021 than they did in 2020.
  • Massachusetts has seen the fastest increase in rents during the 21st century (8.36%), beating California’s increase (8.18%) by 2.2%.
  • Renters in Delaware paid 26.95% less for a 2-bedroom in 2021 than they did in 2020.
  • In the 1990s, Utah saw the most significant rent increase (6.18%), beating Colorado’s increase (6.05%) by 2.1%.
  • Western states saw the greatest rent inflation in the 1990s, with Idaho (5.61%), Oregon (5.20%), and Washington (4.90%) experiencing the greatest rent increases of the decade after Utah and Colorado.
  • In the 1980s, Northeastern states saw the most significant rent inflation, with Connecticut (13.00%), Massachusetts (12.75%), Rhode Island (12.03%), and New Jersey (11.93%) experiencing the greatest increases.

This difference is due to population variations. For example, California is home to the highest percentage of the renting population (15.9%) and had an average YoY 2-bedroom FMR increase of 25.77%.

Annual Change in Rent by State, 2-Bedroom FMR 2020 – 2021
State Rate of Change Total Dollar Difference
Alabama 1.86% $180
Alaska 2.83% $408
Arizona 5.36% $708
Arkansas 2.29% $204
California 25.77% $4,992
Colorado 4.46% $732
Connecticut 20.90% $2,952
Delaware -26.95% -$5,184
D.C. 15.59% $2,088
Florida 4.20% $624
Georgia -3.72% -$468
Hawaii 18.72% $3,708
Idaho 2.61% $276
Illinois 12.75% $1,560
Indiana 2.62% $264
Iowa 2.85% $276
Kansas 1.39% $144
Kentucky 6.21% $576
Louisiana 7.04% $732
Maine 27.82% $2,904
Maryland 6.14% $1,032
Massachusetts 38.60% $6,300
Michigan 8.56% $912
Minnesota 11.52% $1,404
Mississippi 1.80% $168
Missouri 3.96% $396
Montana 11.07% $1,104
Nebraska 2.33% $240
Nevada -2.83% -$396
New Hampshire 12.12% $1,668
New Jersey 20.78% $3,432
New Mexico 5.67% $576
New York 35.22% $5,532
North Carolina 3.11% $348
North Dakota 7.46% $720
Ohio 6.40% $624
Oklahoma 4.05% $396
Oregon 10.30% $1,464
Pennsylvania 9.04% $1,032
Rhode Island 12.37% $1,548
South Carolina 1.95% $216
South Dakota 4.55% $420
Tennessee 1.22% $132
Texas 4.77% $624
Utah -4.28% -$564
Vermont 25.61% $3,012
Virginia 1.20% $180
Washington 12.14% $1,980
West Virginia 6.05% $528
Wisconsin 7.27% $756
Wyoming 6.57% $648

National Map: Average Annual Rent Increase in the 21st Century

Alabama Average Rent Increase Per Year

Alabama rents have increased at one of the fastest rates nationwide over the last 80 years; the 2-bedroom FMR is $822.

  • The 2-bedroom FMR increased 1.86% from 2020 to 2021.
  • The average renter paid a total of $180.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.75% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 17.25% Per year.
  • The fastest rate of increase after inflation was in the 1950s with a 4.44% average annual change.
  • Rents have increased at an average annual rate of 83.33% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 3.26%.
Long-Term Changes in Alabama Rent
Decade(s) Average Increase Per Year Average Increase Adjusted for Inflation
21st Century 3.99% 0.89%
1990s 3.75% 0.40%
1980s 7.29% 0.55%
1970s 17.25% 3.23%
1960s 5.33% 1.88%
1950s 8.00% 4.44%
1940s 10.83% 2.32%

Alaska Average Rent Increase Per Year

There is no data available prior to Alaska becoming a state in 1959. Alaska’s rents increase slower than most state markets; the 2-bedroom FMR is $1,235.

  • The 2-bedroom FMR increased 2.83% from 2020 to 2021.
  • Renters paid an average of $408.00 more in 2021.
  • Throughout the 1990s, the average rent increased 2.88% Per year.
  • The highest rate of increase was in the 1970s when rents rose by an average 9.47% Per year.
  • The fastest rate of increase after inflation was in the 1960s with a 1.62% average annual change.
  • Rents have increased at an average annual rate of 14.43% since 1960 (the earliest record of Alaska’s gross rents).
  • After adjusting for inflation, rents have increased at an average annual rate of 0.16%.
Long-Term Changes in Alaska Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.41% 0.51%
1990s 2.88% -0.26%
1980s 5.19% -0.73%
1970s 9.47% -0.55%
1960s 5.00% 1.62%
1950s NA NA
1940s NA NA

Arizona Average Rent Increase Per Year

Arizona rents increased at an accelerated rate in the 20th century but slowed in the 21st; the 2-bedroom FMR is $1,160.

  • The 2-bedroom FMR increased 5.36%% from 2020 to 2021.
  • The average renter paid a total of $708.00 more in 2021.
  • Throughout the 1990s, the average rent increased 4.13% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 14.22% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 4.96% average annual change.
  • Rents have increased at an average annual rate of 58.33% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.99%.
Long-Term Changes in Arizona Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.16% 1.00%
1990s 4.13% 0.69%
1980s 6.59% 0.12%
1970s 14.22% 1.76%
1960s 5.80% 2.24%
1950s 8.65% 4.96%
1940s 10.56% 2.16%

Arkansas Average Rent Increase Per Year

Arkansas rents increased at an accelerated rate in the 20th century but slowed significantly in the 21st; the 2-bedroom FMR is $759.

  • The 2-bedroom FMR increased 2.29% from 2020 to 2021.
  • The average renter paid a total of $204.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.81% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 16.06% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1940s with a 3.80% average annual change.
  • Rents have increased at an average annual rate of 76.85% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.91%.
Long-Term Changes in Arkansas Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.22% 0.39%
1990s 3.81% 0.44%
1980s 7.73% 0.82%
1970s 16.06% 2.65%
1960s 5.11% 1.71%
1950s 6.79% 3.47%
1940s 13.33% 3.80%

California Average Rent Increase Per Year

California had one of the highest average annual rates of increase throughout the 20th century, and rates have risen even faster in the 21st; the 2-bedroom FMR is $2,030.

  • The 2-bedroom FMR increased 25.77% from 2020 to 2021.
  • The average renter paid a total of $4,992.00 more in 2021.
  • Throughout the 1990s, the average rent increased 2.05% Per year.
  • The largest rate of increase was in the 1970s when rents rose by an average 12.46% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 5.09% average annual change.
  • Rents have increased at an average annual rate of 91.59% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 3.70%.
Long-Term Changes in California Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 8.18% 3.59%
1990s 2.05% -0.89%
1980s 11.91% 3.37%
1970s 12.46% 0.91%
1960s 5.95% 2.36%
1950s 8.81% 5.09%
1940s 5.56% -0.80%

Colorado Average Rent Increase Per Year

Colorado rents increase at a faster rate than most other state markets; the 2-bedroom FMR is $1,430.

  • The 2-bedroom FMR increased 4.46% from 2020 to 2021.
  • The average renter paid a total of $732.00 more in 2021.
  • Throughout the 1990s, the average rent increased 6.05% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 12.91% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 4.81% average annual change.
  • Rents have increased at an average annual rate of 79.01% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 3.03%.
Long-Term Changes in Colorado Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 5.39% 1.79%
1990s 6.05% 2.14%
1980s 6.59% 0.12%
1970s 12.91% 1.12%
1960s 5.28% 1.84%
1950s 8.46% 4.81%
1940s 7.73% 0.48%

Connecticut Average Rent Increase Per Year

Rents increased at a much slower rate in the 20th than they have in the 21st; the 2-bedroom FMR is $1,423.

  • The 2-bedroom FMR increased 20.90% from 2020 to 2021.
  • The average renter paid a total of $2,952.00 more in 2021.
  • Throughout the 1990s, the average rent increased 1.39% Per year.
  • The largest rate of increase was in the 1980s when rents rose by an average 13.00% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1980s with a 4.03% average annual change.
  • Rents have increased at an average annual rate of 50.44% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.51%.
Long-Term Changes in Connecticut Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 5.19% 1.66%
1990s 1.39% -1.39%
1980s 13.00% 4.03%
1970s 10.47% -0.06%
1960s 6.49% 2.78%
1950s 7.11% 3.73%
1940s 3.24% -2.17%

Delaware Average Rent Increase Per Year

Delaware saw the most significant decline in rents among all the state markets; the 2-bedroom FMR is $1,171.

  • The 2-bedroom FMR declined 26.95% from 2020 to 2021.
  • The average renter paid a total of $5,184.00 less in 2021.
  • Throughout the 1990s, the average rent increased 2.91% Per year.
  • The largest rate of increase was in the 1970s when rents rose by an average 12.25% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.43% average annual change.
  • Rents have increased at an average annual rate of 46.95% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.33%.
Long-Term Changes in Delaware Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.96% 0.87%
1990s 2.91% -0.24%
1980s 10.04% 2.23%
1970s 12.25% 0.80%
1960s 4.42% 1.17%
1950s 6.74% 3.43%
1940s 5.33% -0.93%

District of Columbia Average Rent Increase Per Year

Rents have increased at much faster rates in the 21st century than in the 20th; the 2-bedroom FMR is $1,290.

  • The 2-bedroom FMR increased 15.59% from 2020 to 2021.
  • The average renter paid a total of $2,088.00 more in 2021.
  • Throughout the 1990s, the average rent increased 2.90% Per year.
  • The largest rate of increase was in the 1980s when rents rose by an average 11.38% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1980s with a 3.05% average annual change.
  • Rents have increased at an average annual rate of 34.16% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 0.65%.
Long-Term Changes in D.C. Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 5.18% 1.65%
1990s 2.90% -0.24%
1980s 11.38% 3.05%
1970s 8.82% -0.86%
1960s 4.69% 1.38%
1950s 4.21% 1.40%
1940s 2.67% -2.51%

Florida Average Rent Increase Per Year

Rents have consistently increased at a faster rate than the average state market with dips in the 1990s and 2020s; the 2-bedroom FMR is $1,290.

  • The 2-bedroom FMR increased 4.20% from 2020 to 2021.
  • The average renter paid a total of $624.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.33% Per year.
  • The fastest rate of increase was in the 1940s when rents rose by an average 14.38% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 4.61% average annual change.
  • Rents have increased at an average annual rate of 98.30% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 4.05%.
Long-Term Changes in Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.82% 1.42%
1990s 3.33% 0.08%
1980s 8.86% 1.51%
1970s 12.77% 1.05%
1960s 5.77% 2.22%
1950s 8.21% 4.61%
1940s 14.38% 4.42%

Georgia Average Rent Increase Per Year

One of few states that saw a rent decline from 2020 to 2021; the 2-bedroom FMR is $1.010.

  • The 2-bedroom FMR declined 3.72% from 2020 to 2021.
  • The average renter paid a total of $468.00 less in 2021.
  • Throughout the 1990s, the average rent increased 4.16% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 14.53% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 5.16% average annual change.
  • Rents have increased at an average annual rate of 94.68% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 3.86%.
Long-Term Changes in Georgia Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.08% 0.30%
1990s 4.16% 0.70%
1980s 10.52% 2.52%
1970s 14.53% 1.91%
1960s 6.86% 3.07%
1950s 8.89% 5.16%
1940s 10.77% 2.28%

Hawaii Average Rent Increase Per Year

There is no data available before Hawaii becoming a state in 1959. Rent inflation has been among the highest over the last 22 years; the 2-bedroom FMR is $1,960.

  • The 2-bedroom FMR increased 18.72% from 2020 to 2021.
  • The average renter paid a total of $3,708.00 more in 2021.
  • Throughout the 1990s, the average rent increased 1.98% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 13.56% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1960s with a 4.21% average annual change.
  • Rents have increased at an average annual rate of 42.99% since 1960 (the earliest recorded Hawaii gross rents).
  • After adjusting for inflation, rents have increased at an average annual rate of 3.36%.
Long-Term Changes in Hawaii Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 7.22% 2.97%
1990s 1.98% -0.94%
1980s 10.90% 2.75%
1970s 13.56% 1.44%
1960s 8.33% 4.21%
1950s NA NA
1940s NA NA

Idaho Average Rent Increase Per Year

Rents have always been slow to increase; the 2-bedroom FMR is $903.

  • The 2-bedroom FMR increased 2.61% from 2020 to 2021.
  • The average renter paid a total of $276.00 more in 2021.
  • Throughout the 1990s, the average rent increased 5.61% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 13.70% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1940s with a 2.39% average annual change.
  • Rents have increased at an average annual rate of 51.85% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.59%.
Long-Term Changes in Idaho Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.59% 0.62%
1990s 5.61% 1.80%
1980s 5.14% -0.76%
1970s 13.70% 1.51%
1960s 4.15% 0.97%
1950s 4.77% 1.85%
1940s 10.95% 2.39%

Illinois Average Rent Increase Per Year

Rent inflation was among the highest over the last year; the 2-bedroom FMR is $1,150.

  • The 2-bedroom FMR increased 12.75% from 2020 to 2021.
  • The average renter paid a total of $1,560.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.60% Per year.
  • The fastest rates of increase were in the 1950s and the 1980s when rents rose by an average 8.09% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 4.51% average annual change.
  • Rents have increased at an average annual rate of 41.79% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.05%.
Long-Term Changes in Illinois Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.29% 1.08%
1990s 3.60% 0.28%
1980s 8.09% 1.04%
1970s 9.84% -0.37%
1960s 4.59% 1.30%
1950s 8.09% 4.51%
1940s 4.24% -1.58%

Indiana Average Rent Increase Per Year

Rent inflation is slower than both the nationwide average and Indiana’s historical average; the 2-bedroom FMR is $862.

  • The 2-bedroom FMR increased 2.62% from 2020 to 2021.
  • The average renter paid a total of $264.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.93% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 10.76% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.37% average annual change.
  • Rents have increased at an average annual rate of 43.11% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.12%.
Long-Term Changes in Indiana Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.12% 0.32%
1990s 3.93% 0.53%
1980s 7.16% 0.47%
1970s 10.76% 0.08%
1960s 5.00% 1.62%
1950s 6.67% 3.37%
1940s 7.50% 0.35%

Iowa Average Rent Increase Per Year

Rent inflation has been slower than the nationwide average over the last year and in the 21st century overall; the 2-bedroom FMR is $831.

  • The 2-bedroom FMR increased 2.85% from 2020 to 2021.
  • The average renter paid a total of $276.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.99% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 12.83% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 2.69% average annual change.
  • Rents have increased at an average annual rate of 43.37% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.14%.
Long-Term Changes in Iowa Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.66% 0.67%
1990s 3.99% 0.58%
1980s 4.87% -0.93%
1970s 12.83% 1.08%
1960s 4.56% 1.28%
1950s 5.81% 2.69%
1940s 8.70% 1.06%

Kansas Average Rent Increase Per Year

Rent inflation is among the lowest in the country and is historically low in general; the 2-bedroom FMR is $874.

  • The 2-bedroom FMR increased 1.39% from 2020 to 2021.
  • The average renter paid a total of $144.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.39% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 13.19% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a % average annual change.
  • Rents have increased at an average annual rate of 55.56% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.78%.
Long-Term Changes in Kansas Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.60% 0.63%
1990s 3.39% 0.12%
1980s 7.06% 0.41%
1970s 13.19% 1.26%
1960s 4.24% 1.04%
1950s 7.37% 3.94%
1940s 10.00% 1.83%

Kentucky Average Rent Increase Per Year

Rent inflation is, in an average year, mid-range if not on the slow side; the 2-bedroom FMR is $821.

  • The 2-bedroom FMR increased 6.21% from 2020 to 2021.
  • The average renter paid a total of $576.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.95% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 13.86% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 4.23% average annual change.
  • Rents have increased at an average annual rate of 62.11% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.13%.
Long-Term Changes in Kentucky Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.01% 0.91%
1990s 3.95% 0.55%
1980s 6.11% -0.17%
1970s 13.86% 1.58%
1960s 5.09% 1.69%
1950s 7.74% 4.23%
1940s 9.38% 1.46%

Louisiana Average Rent Increase Per Year

Rent inflation is roughly average among states; the 2-bedroom FMR is $927.

  • The 2-bedroom FMR increased 7.04% from 2020 to 2021.
  • The average renter paid a total of $732.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.24% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 16.42% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 5.74% average annual change.
  • Rents have increased at an average annual rate of 75.06% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.82%.
Long-Term Changes in Louisiana Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.71% 1.35%
1990s 3.24% 0.01%
1980s 6.45% 0.04%
1970s 16.42% 2.83%
1960s 5.28% 1.84%
1950s 9.63% 5.74%
1940s 8.00% 0.65%

Maine Average Rent Increase Per Year

Rent inflation is historically unstable, with the last year seeing one of the fastest inflation rates nationwide.; the 2-bedroom FMR is $1,112.

  • The 2-bedroom FMR increased 27.82% from 2020 to 2021.
  • The average renter paid a total of $2,904.00 more in 2021.
  • Throughout the 1990s, the average rent increased 1.86% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 14.00% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 2.52% average annual change.
  • Rents have increased at an average annual rate of 53.68% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.68%.
Long-Term Changes in Maine Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 5.89% 2.11%
1990s 1.86% -1.03%
1980s 9.40% 1.84%
1970s 14.00% 1.65%
1960s 4.06% 0.90%
1950s 5.61% 2.52%
1940s 6.40% -0.30%

Maryland Average Rent Increase Per Year

In the last year, rent inflation followed the historical trend and was slightly lower than average; the 2-bedroom FMR is $1,487.

  • The 2-bedroom FMR increased 6.14% from 2020 to 2021.
  • The average renter paid a total of $1,032.00 more in 2021.
  • Throughout the 1990s, the average rent increased 2.57% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 10.94% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.60% average annual change.
  • Rents have increased at an average annual rate of 66.76% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.38%.
Long-Term Changes in Maryland Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 5.52% 1.87%
1990s 2.57% -0.49%
1980s 10.60% 2.57%
1970s 10.94% 0.17%
1960s 6.28% 2.62%
1950s 6.96% 3.60%
1940s 7.04% 0.08%

Massachusetts Average Rent Increase Per Year

Rent inflation was the highest in the nation in the last year and is historically high in general; the 2-bedroom FMR is $1,885.

  • The 2-bedroom FMR increased 38.60% from 2020 to 2021.
  • The average renter paid a total of $6,300.00 more in 2021.
  • Throughout the 1990s, the average rent increased 1.79% Per year.
  • The fastest rate of increase was in the 1980s when rents rose by an average 12.75% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1980s with a 3.88% average annual change.
  • Rents have increased at an average annual rate of 67.21% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.40%.
Long-Term Changes in Massachusetts Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 8.36% 3.70%
1990s 1.79% -1.08%
1980s 12.75% 3.88%
1970s 11.79% 0.58%
1960s 5.60% 2.09%
1950s 5.96% 2.80%
1940s 3.82% -1.82%

Michigan Average Rent Increase Per Year

While rent inflation is historically lower than average, Michigan experienced an inflation rate that was slightly higher than the average among the states; the 2-bedroom FMR is $964.

  • The 2-bedroom FMR increased 8.56% from 2020 to 2021.
  • The average renter paid a total of $912.00 more in 2021.
  • Throughout the 1990s, the average rent increased 2.91% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 11.74% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.14% average annual change.
  • Rents have increased at an average annual rate of 34.83% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 0.68%.
Long-Term Changes in Michigan Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.65% 0.66%
1990s 2.91% -0.24%
1980s 6.92% 0.32%
1970s 11.74% 0.56%
1960s 4.94% 1.57%
1950s 6.38% 3.14%
1940s 4.24% -1.58%

Minnesota Average Rent Increase Per Year

Rent cost and inflation is on par with national averages; the 2-bedroom FMR is $1,133.

  • The 2-bedroom FMR increased 11.52% from 2020 to 2021.
  • The average renter paid a total of $1,404.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.41% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 10.17% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.43% average annual change.
  • Rents have increased at an average annual rate of 48.72% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.42%.
Long-Term Changes in Minnesota Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.77% 1.39%
1990s 3.41% 0.14%
1980s 7.88% 0.91%
1970s 10.17% -0.21%
1960s 6.25% 2.59%
1950s 6.74% 3.43%
1940s 5.36% -0.92%

Mississippi Average Rent Increase Per Year

Rent in among the lowest and inflation has slowed; the 2-bedroom FMR is $791.

  • The 2-bedroom FMR increased 1.80% from 2020 to 2021.
  • The average renter paid a total of $168.00 more in 2021.
  • Throughout the 1990s, the average rent increased 4.21% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 17.69% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.80% average annual change.
  • Rents have increased at an average annual rate of 87.54% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 3.48%.
Long-Term Changes in Mississippi Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.82% 0.77%
1990s 4.21% 0.74%
1980s 7.17% 0.47%
1970s 17.69% 3.45%
1960s 5.12% 1.71%
1950s 7.20% 3.80%
1940s 12.73% 3.44%

Missouri Average Rent Increase Per Year

Rent and inflation are below average and have been for decades; the 2-bedroom FMR is $867.

  • The 2-bedroom FMR increased 3.96% from 2020 to 2021.
  • The average renter paid a total of $396.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.15% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 11.68% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 4.49% average annual change.
  • Rents have increased at an average annual rate of 47.42% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.35%.
Long-Term Changes in Missouri Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.77% 0.74%
1990s 3.15% -0.06%
1980s 7.44% 0.64%
1970s 11.68% 0.67%
1960s 4.77% 1.44%
1950s 8.06% 4.49%
1940s 6.36% -0.32%

Montana Average Rent Increase Per Year

Rent is low but the inflation rate is above average; the 2-bedroom FMR is $923.

  • The 2-bedroom FMR increased 11.07% from 2020 to 2021.
  • The average renter paid a total of $1,104.00 more in 2021.
  • Throughout the 1990s, the average rent increased 4.37% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 12.47% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 2.92% average annual change.
  • Rents have increased at an average annual rate of 48.31% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.40%.
Long-Term Changes in Montana Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 5.07% 1.58%
1990s 4.37% 0.87%
1980s 5.55% -0.51%
1970s 12.47% 0.91%
1960s 3.48% 0.45%
1950s 6.10% 2.92%
1940s 7.83% 0.54%

Nebraska Average Rent Increase Per Year

Rent is on the low side, and inflation is slow; the 2-bedroom FMR is $879.

  • The 2-bedroom FMR increased 2.33% from 2020 to 2021.
  • The average renter paid a total of $240.00 more in 2021.
  • Throughout the 1990s, the average rent increased 4.11% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 12.42% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 2.50% average annual change.
  • Rents have increased at an average annual rate of 48.09% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.39%.
Long-Term Changes in Nebraska Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.76% 0.74%
1990s 4.11% 0.67%
1980s 6.34% -0.03%
1970s 12.42% 0.89%
1960s 4.18% 0.99%
1950s 5.58% 2.50%
1940s 9.55% 1.56%

Nevada Average Rent Increase Per Year

Rent has always been higher than the national average, but comparative rent inflation has slowed way down in the 21st century; the 2-bedroom FMR is $1,135.

  • The 2-bedroom FMR declined 2.83% from 2020 to 2021.
  • The average renter paid a total of $396.00 less in 2021.
  • Throughout the 1990s, the average rent increased 3.73% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 11.99% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 5.53% average annual change.
  • Rents have increased at an average annual rate of 52.66% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.63%.
Long-Term Changes in Nevada Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 2.97% 0.23%
1990s 3.73% 0.38%
1980s 6.52% 0.02%
1970s 11.99% 0.68%
1960s 5.49% 2.01%
1950s 9.36% 5.53%
1940s 8.08% 0.69%

New Hampshire Average Rent Increase Per Year

Rent and rent inflation are both well above average; the 2-bedroom FMR is $1,286.

  • The 2-bedroom FMR increased 12.12% from 2020 to 2021.
  • The average renter paid a total of $1,668.00 more in 2021.
  • Throughout the 1990s, the average rent increased 1.77% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 15.35% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1980s with a 3.34% average annual change.
  • Rents have increased at an average annual rate of 59.83% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.01%.
Long-Term Changes in New Hampshire Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.72% 1.35%
1990s 1.77% -1.10%
1980s 11.87% 3.34%
1970s 15.35% 2.31%
1960s 5.23% 1.80%
1950s 5.85% 2.72%
1940s 5.77% -0.67%

New Jersey Average Rent Increase Per Year

Rent and rent inflation are among the nation’s highest; the 2-bedroom FMR is $1,662.

  • The 2-bedroom FMR increased 20.78% from 2020 to 2021.
  • The average renter paid a total of $3,432.00 more in 2021.
  • Throughout the 1990s, the average rent increased 2.69% Per year.
  • The fastest rate of increase was in the 1980s when rents rose by an average 11.93% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1980s with a 3.38% average annual change.
  • Rents have increased at an average annual rate of 55.76% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.79%.
Long-Term Changes in New Jersey Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 5.78% 2.04%
1990s 2.69% -0.41%
1980s 11.93% 3.38%
1970s 11.43% 0.40%
1960s 5.75% 2.20%
1950s 6.33% 3.10%
1940s 3.61% -1.95%

New Mexico Average Rent Increase Per Year

Rent and rent inflation are both below average; the 2-bedroom FMR is $895.

  • The 2-bedroom FMR increased 5.67% from 2020 to 2021.
  • The average renter paid a total of $576.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.52% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 14.43% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1940s with a 4.26% average annual change.
  • Rents have increased at an average annual rate of 63.76% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.22%.
Long-Term Changes in New Mexico Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.71% 0.70%
1990s 3.52% 0.22%
1980s 7.30% 0.56%
1970s 14.43% 1.86%
1960s 2.39% -0.40%
1950s 7.32% 3.89%
1940s 14.12% 4.26%

New York Average Rent Increase Per Year

Rent is 4th highest in the nation while rent inflation is the 2nd highest; the 2-bedroom FMR is $1,770.

  • The 2-bedroom FMR increased 35.22% from 2020 to 2021.
  • The average renter paid a total of $5,532.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.83% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 12.43% Per year.
  • The fastest rate of increase after adjusting for inflation has been in the 21st century with a 3.33% average annual change.
  • Rents have increased at an average annual rate of 54.80% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.74%.
Long-Term Changes in New York Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 7.78% 3.33%
1990s 3.83% 0.45%
1980s 9.52% 1.91%
1970s 12.43% 0.89%
1960s 5.00% 1.62%
1950s 5.42% 2.37%
1940s 2.31% -2.72%

North Carolina Average Rent Increase Per Year

Rent inflation is historically low while rent is below average; the 2-bedroom FMR is $960.

  • The 2-bedroom FMR increased 3.11% from 2020 to 2021.
  • The average renter paid a total of $348.00 more in 2021.
  • Throughout the 1990s, the average rent increased 4.35% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 13.84% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 4.71% average annual change.
  • Rents have increased at an average annual rate of 83.42% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 3.26%.
Long-Term Changes in North Carolina Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.58% 0.62%
1990s 4.35% 0.85%
1980s 8.63% 1.37%
1970s 13.84% 1.57%
1960s 5.64% 2.12%
1950s 8.33% 4.71%
1940s 11.43% 2.67%

North Dakota Average Rent Increase Per Year

Rent is comparatively very low though rent inflation is on the rise; the 2-bedroom FMR is $864.

  • The 2-bedroom FMR increased 7.46% from 2020 to 2021.
  • The average renter paid a total of $720.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.16% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 11.24% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.25% average annual change.
  • Rents have increased at an average annual rate of 49.56% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.46%.
Long-Term Changes in North Dakota Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 5.22% 1.68%
1990s 3.16% -0.05%
1980s 5.19% -0.73%
1970s 11.24% 0.31%
1960s 3.66% 0.59%
1950s 6.51% 3.25%
1940s 10.48% 2.11%

Ohio Average Rent Increase Per Year

Rent and rent inflation are on the low side, as they have been for decades; the 2-bedroom FMR is $865.

  • The 2-bedroom FMR increased 6.40% from 2020 to 2021.
  • The average renter paid a total of $624.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.59% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 11.43% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 4.33% average annual change.
  • Rents have increased at an average annual rate of 36.90% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 0.79%.
Long-Term Changes in Ohio Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.24% 0.40%
1990s 3.59% 0.27%
1980s 6.84% 0.28%
1970s 11.43% 0.40%
1960s 4.00% 0.85%
1950s 7.86% 4.33%
1940s 5.00% -1.13%

Oklahoma Average Rent Increase Per Year

Rent is very low and rent inflation is nearly half the national average rate; the 2-bedroom FMR is $847.

  • The 2-bedroom FMR increased 4.05% from 2020 to 2021.
  • The average renter paid a total of $396.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.41% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 16.22% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.45% average annual change.
  • Rents have increased at an average annual rate of 64.12% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.24%.
Long-Term Changes in Oklahoma Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.08% 0.94%
1990s 3.41% 0.14%
1980s 5.81% -0.35%
1970s 16.22% 2.73%
1960s 4.39% 1.15%
1950s 6.76% 3.45%
1940s 11.25% 2.57%

Oregon Average Rent Increase Per Year

Rent and rent inflation are both above average; the 2-bedroom FMR is $1,307.

  • The 2-bedroom FMR increased 10.30% from 2020 to 2021.
  • The average renter paid a total of $1,464.00 more in 2021.
  • Throughout the 1990s, the average rent increased 5.20% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 14.02% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 19500s with a 2.76% average annual change.
  • Rents have increased at an average annual rate of 75.60% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.85%.
Long-Term Changes in Oregon Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 5.28% 1.71%
1990s 5.20% 1.49%
1980s 5.88% -0.31%
1970s 14.02% 1.66%
1960s 5.29% 1.85%
1950s 5.91% 2.76%
1940s 10.95% 2.39%

Pennsylvania Average Rent Increase Per Year

Rent and rent inflation are nearly average with comparative rent inflation speeding up slightly in the 21st century; the 2-bedroom FMR is $1,307.

  • The 2-bedroom FMR increased 9.04% from 2020 to 2021.
  • The average renter paid a total of $1,032.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.14% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 14.09% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 2.84% average annual change.
  • Rents have increased at an average annual rate of 46.18% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.28%.
Long-Term Changes in Pennsylvania Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.54% 1.24%
1990s 3.14% -0.06%
1980s 8.04% 1.00%
1970s 14.09% 1.69%
1960s 4.53% 1.26%
1950s 6.00% 2.84%
1940s 4.81% -1.24%

Rhode Island Average Rent Increase Per Year

Rent is on the high side though rent inflation is well above average; the 2-bedroom FMR is $1,172.

  • The 2-bedroom FMR increased 12.37% from 2020 to 2021.
  • The average renter paid a total of $1,548.00 more in 2021.
  • Throughout the 1990s, the average rent increased 1.31% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 13.87% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 2.44% average annual change.
  • Rents have increased at an average annual rate of 50.44% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.51%.
Long-Term Changes in Rhode Island Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 5.33% 1.75%
1990s 1.31% -1.45%
1980s 12.03% 3.44%
1970s 13.87% 1.59%
1960s 5.00% 1.62%
1950s 5.50% 2.44%
1940s 4.29% -1.55%

South Carolina Average Rent Increase Per Year

Rent inflation is among the lowest in the nation, and rent is below average; the 2-bedroom FMR is $940.

  • The 2-bedroom FMR increased 1.95% from 2020 to 2021.
  • The average renter paid a total of $216.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.56% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 16.75% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 5.12% average annual change.
  • Rents have increased at an average annual rate of 95.47% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 3.90%.
Long-Term Changes in South Carolina Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.01% 0.90%
1990s 3.56% 0.26%
1980s 8.25% 1.14%
1970s 16.75% 2.99%
1960s 5.71% 2.18%
1950s 8.85% 5.12%
1940s 11.67% 2.81%

South Dakota Average Rent Increase Per Year

Rent is 5th lowest in the nation (including Puerto Rico) and rent inflation is a little over half the national average rate; the 2-bedroom FMR is $804.

  • The 2-bedroom FMR increased 4.55% from 2020 to 2021.
  • The average renter paid a total of $420.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.92% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 11.36% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 2.80% average annual change.
  • Rents have increased at an average annual rate of 46.03% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.28%.
Long-Term Changes in South Dakota Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.23% 1.04%
1990s 3.92% 0.53%
1980s 6.28% -0.07%
1970s 11.36% 0.37%
1960s 3.13% 0.18%
1950s 5.95% 2.80%
1940s 10.00% 1.83%

Tennessee Average Rent Increase Per Year

Rent is below average, and rent inflation is among the nation’s lowest; the 2-bedroom FMR is $915.

  • The 2-bedroom FMR increased 1.22% from 2020 to 2021.
  • The average renter paid a total of $132.00 more in 2021.
  • Throughout the 1990s, the average rent increased 4.15% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 14.76% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.46% average annual change.
  • Rents have increased at an average annual rate of 74.07% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.77%.
Long-Term Changes in Tennessee Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.87% 0.80%
1990s 4.15% 0.07%
1980s 7.59% 0.73%
1970s 14.76% 2.02%
1960s 5.77% 2.22%
1950s 6.77% 3.46%
1940s 10.67% 2.22%

Texas Average Rent Increase Per Year

While rent is above average, rent inflation is well below the national rate; the 2-bedroom FMR is $1,143.

  • The 2-bedroom FMR increased 4.77% from 2020 to 2021.
  • The average renter paid a total of $624.00 more in 2021.
  • Throughout the 1990s, the average rent increased 4.53% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 15.89% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.01% average annual change.
  • Rents have increased at an average annual rate of 81.77% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 3.18%.
Long-Term Changes in Texas Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.72% 1.36%
1990s 4.53% 0.99%
1980s 6.06% -0.20%
1970s 15.89% 2.57%
1960s 5.83% 2.27%
1950s 6.22% 3.01%
1940s 11.76% 2.87%

Utah Average Rent Increase Per Year

With the nation’s most significant decline in rent values or rent deflation, the price of rent is on par with the national average; the 2-bedroom FMR is $1,051.

  • The 2-bedroom FMR declined 4.28% from 2020 to 2021.
  • The average renter paid a total of $546.00 less in 2021.
  • Throughout the 1990s, the average rent increased 6.18% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 14.23% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.24% average annual change.
  • Rents have increased at an average annual rate of 55.18% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.76%.
Long-Term Changes in Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.62% 0.65%
1990s 6.18% 2.23%
1980s 5.70% -0.42%
1970s 14.23% 1.76%
1960s 4.70% 1.39%
1950s 6.50% 3.24%
1940s 7.39% 0.29%

Vermont Average Rent Increase Per Year

Rent is above average, and rent inflation is among the nation’s highest; the 2-bedroom FMR is $1,231.

  • The 2-bedroom FMR increased 25.61% from 2020 to 2021.
  • The average renter paid a total of $3,012.00 more in 2021.
  • Throughout the 1990s, the average rent increased 2.40% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 12.86% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1960s with a 2.25% average annual change.
  • Rents have increased at an average annual rate of 62.09% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 2.13%.
Long-Term Changes in Vermont Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 5.84% 2.08%
1990s 2.40% -0.63%
1980s 9.91% 2.15%
1970s 12.86% 1.10%
1960s 5.81% 2.25%
1950s 5.12% 2.13%
1940s 7.08% 0.10%

Virginia Average Rent Increase Per Year

While rent is above average, rent inflation is among the nation’s lowest; the 2-bedroom FMR is $1,269.

  • The 2-bedroom FMR increased 1.20% from 2020 to 2021.
  • The average renter paid a total of $180.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.13% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 12.52% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 4.61% average annual change.
  • Rents have increased at an average annual rate of 81.22% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 3.15%.
Long-Term Changes in Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.53% 1.24%
1990s 3.13% -0.07%
1980s 9.11% 1.66%
1970s 12.52% 0.94%
1960s 6.20% 2.55%
1950s 8.21% 4.61%
1940s 10.53% 2.14%

Washington Average Rent Increase Per Year

Rent is well above average, and rent inflation is 50% faster than the national rate; the 2-bedroom FMR is $1,524.

  • The 2-bedroom FMR increased 12.14% from 2020 to 2021.
  • The average renter paid a total of $1,980.00 more in 2021.
  • Throughout the 1990s, the average rent increased 4.90% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 12.48% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.25% average annual change.
  • Rents have increased at an average annual rate of 84.29% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 3.31%.
Long-Term Changes in Washington Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 6.18% 2.30%
1990s 4.90% 1.27%
1980s 7.52% 0.69%
1970s 12.48% 0.91%
1960s 5.92% 2.33%
1950s 6.51% 3.25%
1940s 9.55% 1.56%

West Virginia Average Rent Increase Per Year

Rent is 2nd lowest among the states (3rd including Puerto Rico) while rent inflation is below average; the 2-bedroom FMR is $771.

  • The 2-bedroom FMR increased 6.05% from 2020 to 2021.
  • The average renter paid a total of $528.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.23% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 17.08% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 5.19% average annual change.
  • Rents have increased at an average annual rate of 54.76% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.74%.
Long-Term Changes in West Virginia Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.39% 1.14%
1990s 3.23% 0.01%
1980s 5.54% -0.52%
1970s 17.08% 3.15%
1960s 3.58% 0.53%
1950s 8.93% 5.19%
1940s 6.47% -0.26%

Wisconsin Average Rent Increase Per Year

Rent is on the low side, and so is rent inflation; the 2-bedroom FMR is $930.

  • The 2-bedroom FMR increased 7.27% from 2020 to 2021.
  • The average renter paid a total of $756.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.53% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 10.71% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1950s with a 2.94% average annual change.
  • Rents have increased at an average annual rate of 35.80% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 0.73%.
Long-Term Changes in Wisconsin Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 3.44% 0.54%
1990s 3.53% 0.23%
1980s 7.05% 0.40%
1970s 10.71% 0.05%
1960s 4.30% 1.08%
1950s 6.12% 2.94%
1940s 5.81% -0.65%

Wyoming Average Rent Increase Per Year

Rent is very low while rent inflation falls short of the national average; the 2-bedroom FMR is $876.

  • The 2-bedroom FMR increased 6.57% from 2020 to 2021.
  • The average renter paid a total of $648.00 more in 2021.
  • Throughout the 1990s, the average rent increased 3.12% Per year.
  • The fastest rate of increase was in the 1970s when rents rose by an average 19.97% Per year.
  • The fastest rate of increase after adjusting for inflation was in the 1970s with a 4.06% average annual change.
  • Rents have increased at an average annual rate of 47.92% since 1940.
  • After adjusting for inflation, rents have increased at an average annual rate of 1.38%.
Long-Term Changes in Rent
Decade(s) Increase Per Year Increase Adjusted for Inflation
21st Century 4.78% 1.40%
1990s 3.12% -0.08%
1980s 3.21% -1.94%
1970s 18.97% 4.06%
1960s 2.99% 0.06%
1950s 6.34% 3.11%
1940s 8.64% 1.02%

Sources

  1. CNBC, Market Insider: Inflation Was Hot in July, But Rent Isn’t Showing Up Yet and Could Drive Prices Higher
  2. U.S. Bureau of Labor Statistics (BLS), Consumer Price Index
  3. BLS, Beta Labs: Data Finder 1.1
  4. BLS, The Economics Daily
  5. U.S. Census Bureau (Census), Historical Census of Housing: Gross Rents
  6. Census, American Community Survey: S2502 Demographic Characteristics for Occupied Housing Units, 1-Year Estimates
  7. Statista, Fair Market Rent Value of Two-Bedroom Apartment in the United States by State 2021