Rent Jumps 41% Since 2021 Across Largest Metros  [LendingTree Report]

It's no secret that over the past few years, rent has gotten more expensive — especially in large cities.

But just how much has rent gone up? We used the latest housing data to calculate changes in Fair Market Rents (FMRs) for both one and two-bedroom housing units in each of the nation's 50 largest metros from 2021 to 2026. Here's what we found. 

• Nationwide FMRs are up $457 for one-bedrooms and $505 for two-bedrooms, on average. That's a 40.7% increase on one-bedrooms and a 37.3% increase on two-bedrooms. 
• New York (+$854), San Diego (+$817) and Miami (+$764) posted the steepest jumps on one-bedroom units. Two-bedroom leaders look similar: Miami (+$885), San Diego (+$877) and New York (+$857) topped the list.
• San Francisco barely budged, rising only $54 for one-bedrooms and $51 for two-bedrooms. Even with minimal increases, it remains one of the nation’s priciest rental markets.

• Birmingham, Oklahoma City, San Antonio and St. Louis saw the lowest growth. Increases in those metros ranged from $264 to $326 over five years.

You can check out the full report here: https://www.lendingtree.com/home/mortgage/fair-market-rents-study/ 

LendingTree's Chief Consumer Finance Analyst, Matt Schulz, had this to say:

“These rent increases can cause a massive strain on consumers. If your income is rising at the same time your rent is, maybe that extra expense is no big deal. However, so many Americans’ financial wiggle room is tiny, even in the best of times, so having to carve out hundreds of extra dollars to pay rent each month can be a big deal.”