HomeReal EstateHomes We All Dream of: Discover America's Hottest Rental Markets in 2023

Homes We All Dream of: Discover America’s Hottest Rental Markets in 2023


Here are this year’s most competitive rental markets


Miami is currently the most competitive city for renters in the United States.

The Midwest is considered the most sought-after region for renting due to its affordability and popularity among younger crowds, though there is a dwindling supply of apartments available.

Despite rising rental costs, demand remains high due to the limited number of homes available for purchase and rising mortgage rates.

The median rent for a one-bedroom apartment nationally is $1,207, while the median rent for a two-bedroom apartment is $1,359.

  • Overall sentiment: neutral
  • Positive

    “The apartment market is finally loosening up.”

    “Rents are expected to fall further, with the nationwide multifamily vacancy rate at 6.5% and forecast to rise this year as more units go up for rent.”


    “But on a regional level, the Midwest ranks first for competition.”

    “Home prices are still high, even with rising mortgage interest rates, making it increasingly difficult for younger Americans to make the transition from renter to homeowner.”

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