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