US rent rose 0.4% in September, and the yearly increase is the biggest since 2024

Typical US rent rose about 0.4% from August to September 2026, or roughly $7, to $1,932 a month, according to RentDataNow data and the Zillow Observed Rent Index. It's up 2.9%, about $54, from a year earlier, the fastest annual increase since September 2024.

The yearly pace has picked up every month since bottoming at 1.7% in March. It was 2.2% in June, 2.4% in July, and 2.7% in August. Zillow said in its September market report that the acceleration is widespread, showing up in both apartment buildings and single-family rentals, and that 39.6% of its rental listings offered a concession such as a free month.

Most cities moved the same direction. Of the 330 cities with at least 100,000 residents that RentDataNow tracks, typical rent rose in 275 from August to September, fell in 42, and was flat in 13. The median city gained 0.3%. Over the past year, rent is up in 304 of the 330.

The biggest gains were again in the Bay Area. San Francisco's typical rent rose $120 in a month, to $4,784, and it's up 26.3% from a year ago.

Where rent fell, it didn't fall far. The biggest drop was in Santa Maria, California, down $25 to $2,509, followed by Kent, Washington, and Rio Rancho, New Mexico, each down $12. Pompano Beach and Coral Springs in South Florida slipped $10 and $8.

In the biggest cities, the monthly moves were small. Typical rent rose $24 in New York, to $4,089, and it's up 5.3% in a year. Chicago rose $10, to $2,311, and is up 5.8%. Los Angeles rose $5, to $2,772, and Houston was essentially flat at $1,544. Houston and San Antonio are the only two of the 10 largest cities where typical rent is below where it was a year ago, Houston by less than 0.1% and San Antonio by 0.9%.

Government data shows a slower but similar trend. The rent index in the Consumer Price Index, which tracks what all tenants pay, including those on older leases, rose 0.2% in September, the Bureau of Labor Statistics reported on October 14.

Zillow's latest release revised earlier months, so August figures here differ slightly from what we reported in our August report. Rent usually cools from fall into winter, so for timing a move, see the best time of year to rent.

Sources

• RentDataNow national and city rent data, anchored to the seasonally adjusted Zillow Observed Rent Index, September 2026; city comparisons cover the 330 cities with at least 100,000 residents

• Zillow September 2026 market report, for the breadth of rent growth and concessions

• Bureau of Labor Statistics, Consumer Price Index for September 2026 (October 14, 2026)