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The 100 largest U.S. metro rental markets
The 100 largest U.S. metro rental markets are the metropolitan statistical areas with the highest Census Bureau population on July 1, 2025. Landlords and investors can compare FY2027 2-bedroom Fair Market Rent in one list. The New York metro 2-bedroom figure is $2,723, a benchmark for screening other metros.
These 100 metropolitan statistical areas are the largest by Census Bureau population. Open the New York metro, or read how these figures are built.
100 largest metros
| 1 | New York, NY | 20,112,448 | $2,723 | $1,830 | 3.58% | 44,444 |
| 2 | Los Angeles, CA | 12,844,441 | $2,987 | $2,063 | 2.84% | 27,242 |
| 3 | Chicago, IL | 9,434,123 | $1,963 | $1,430 | 5.31% | 15,778 |
| 4 | Dallas, TX | 8,477,157 | $1,781 | $1,614 | 5.39% | 66,179 |
| 5 | Houston, TX | 7,904,627 | $1,484 | $1,430 | 5.76% | 65,075 |
| 6 | Atlanta, GA | 6,482,182 | $1,748 | $1,672 | 5.46% | 33,670 |
| 7 | Washington, DC | 6,465,724 | $2,413 | $2,027 | 4.19% | 17,990 |
| 8 | Miami, FL | 6,391,072 | $2,434 | $1,869 | 5.06% | 23,453 |
| 9 | Philadelphia, PA | 6,329,118 | $1,860 | $1,480 | 5.05% | 12,900 |
| 10 | Phoenix, AZ | 5,228,938 | $1,734 | $1,702 | 4.63% | 39,699 |
| 11 | Boston, MA | 5,034,221 | $2,823 | $2,023 | 3.76% | 10,072 |
| 12 | Riverside, CA | 4,769,007 | $2,103 | $1,846 | 4.13% | 15,937 |
| 13 | San Francisco, CA | 4,630,041 | $3,156 | $2,474 | 2.60% | 7,750 |
| 14 | Detroit, MI | 4,390,913 | $1,460 | $1,207 | 5.80% | 8,805 |
| 15 | Seattle, WA | 4,161,883 | $2,439 | $2,000 | 3.34% | 15,659 |
| 16 | Minneapolis, MN | 3,790,295 | $1,725 | $1,440 | 4.62% | 14,516 |
| 17 | Tampa, FL | 3,418,895 | $1,917 | $1,628 | 5.66% | 22,747 |
| 18 | San Diego, CA | 3,282,248 | $2,823 | $2,246 | 3.15% | 11,707 |
| 19 | Denver, CO | 3,092,037 | $2,169 | $1,874 | 3.72% | 15,948 |
| 20 | Orlando, FL | 2,957,672 | $1,959 | $1,760 | 5.71% | 27,845 |
| 21 | Charlotte, NC | 2,938,830 | $1,670 | $1,473 | 4.96% | 22,233 |
| 22 | Baltimore, MD | 2,857,781 | $2,006 | $1,611 | 4.94% | 5,799 |
| 23 | St. Louis, MO | 2,814,421 | $1,341 | $1,113 | 5.46% | 6,066 |
| 24 | San Antonio, TX | 2,813,140 | $1,434 | $1,363 | 5.87% | 10,546 |
| 25 | Austin, TX | 2,620,945 | $1,817 | $1,726 | 4.45% | 27,322 |
| 26 | Portland, OR | 2,542,282 | $1,878 | $1,724 | 3.70% | 8,318 |
| 27 | Sacramento, CA | 2,477,274 | $2,195 | $1,819 | 3.70% | 10,689 |
| 28 | Pittsburgh, PA | 2,421,992 | $1,370 | $1,053 | 5.88% | 5,797 |
| 29 | Las Vegas, NV | 2,407,226 | $1,686 | $1,626 | 4.53% | 14,466 |
| 30 | Cincinnati, OH | 2,312,858 | $1,428 | $1,105 | 5.13% | 7,264 |
| 31 | Kansas City, MO | 2,270,682 | $1,543 | $1,249 | 5.22% | 9,893 |
| 32 | Columbus, OH | 2,242,028 | $1,585 | $1,274 | 5.08% | 15,757 |
| 33 | Indianapolis, IN | 2,205,695 | $1,521 | $1,191 | 5.37% | 11,463 |
| 34 | Nashville, TN | 2,197,416 | $1,755 | $1,528 | 4.48% | 19,203 |
| 35 | Cleveland, OH | 2,165,775 | $1,262 | $1,050 | 5.85% | 4,174 |
| 36 | San Jose, CA | 1,984,473 | $3,263 | $2,840 | 2.35% | 5,570 |
| 37 | Virginia Beach, VA | 1,797,213 | $1,663 | $1,478 | 5.20% | 3,953 |
| 38 | Jacksonville, FL | 1,785,500 | $1,684 | $1,513 | 5.29% | 13,455 |
| 39 | Providence, RI | 1,708,161 | $1,917 | $1,307 | 3.71% | 2,894 |
| 40 | Raleigh, NC | 1,595,720 | $1,689 | $1,573 | 4.51% | 17,543 |
| 41 | Milwaukee, WI | 1,575,010 | $1,263 | $1,139 | 4.46% | 3,105 |
| 42 | Oklahoma City, OK | 1,512,813 | $1,246 | $1,124 | 5.86% | 8,576 |
| 43 | Louisville, KY | 1,402,509 | $1,252 | $1,116 | 5.38% | 6,103 |
| 44 | Richmond, VA | 1,389,338 | $1,649 | $1,447 | 4.91% | 9,091 |
| 45 | Memphis, TN | 1,341,412 | $1,289 | $1,220 | 5.95% | 3,298 |
| 46 | Salt Lake City, UT | 1,308,377 | $1,584 | $1,583 | 3.69% | 7,702 |
| 47 | Fresno, CA | 1,203,383 | $1,654 | $1,392 | 4.29% | 3,518 |
| 48 | Birmingham, AL | 1,197,766 | $1,338 | $1,172 | 5.86% | 4,219 |
| 49 | Grand Rapids, MI | 1,183,645 | $1,545 | $1,202 | 5.06% | 4,267 |
| 50 | Hartford, CT | 1,171,426 | $1,933 | $1,416 | 5.10% | 1,504 |
| 51 | Buffalo, NY | 1,155,653 | $1,423 | $1,057 | 5.61% | 1,484 |
| 52 | Tucson, AZ | 1,074,685 | $1,405 | $1,212 | 4.55% | 4,658 |
| 53 | Tulsa, OK | 1,069,273 | $1,214 | $1,078 | 5.83% | 5,154 |
| 54 | Rochester, NY | 1,056,149 | $1,416 | $1,143 | 6.70% | 1,750 |
| 55 | Greenville, SC | 1,014,101 | $1,392 | $1,150 | 5.22% | 8,255 |
| 56 | Omaha, NE | 1,009,836 | $1,443 | $1,192 | 5.33% | 6,377 |
| 57 | Urban Honolulu, HI | 988,703 | $2,542 | $2,083 | 2.79% | 1,446 |
| 58 | Bridgeport, CT | 978,179 | $2,399 | $1,875 | 3.99% | 3,478 |
| 59 | New Orleans, LA | 970,849 | $1,474 | $1,217 | 5.61% | 1,694 |
| 60 | Knoxville, TN | 968,137 | $1,406 | $1,145 | 4.73% | 7,855 |
| 61 | North Port, FL | 948,158 | $2,188 | $1,747 | 5.21% | 17,642 |
| 62 | Bakersfield, CA | 927,068 | $1,656 | $1,300 | 4.61% | 3,159 |
| 63 | Albuquerque, NM | 925,279 | $1,384 | $1,156 | 4.82% | 2,830 |
| 64 | McAllen, TX | 921,549 | $1,017 | $957 | 8.15% | 7,301 |
| 65 | Albany, NY | 915,835 | $1,711 | $1,280 | 5.37% | 2,047 |
| 66 | Charleston, SC | 889,263 | $1,884 | $1,605 | 5.10% | 7,287 |
| 67 | Baton Rouge, LA | 888,699 | $1,136 | $1,135 | 5.65% | 4,314 |
| 68 | Worcester, MA | 888,502 | $2,057 | $1,426 | 4.04% | 1,690 |
| 69 | Allentown, PA | 887,615 | $1,862 | $1,365 | 5.45% | 1,974 |
| 70 | El Paso, TX | 881,291 | $1,145 | $1,079 | 7.19% | 2,050 |
| 71 | Columbia, SC | 879,918 | $1,203 | $1,193 | 6.16% | 6,070 |
| 72 | Cape Coral, FL | 875,607 | $1,835 | $1,712 | 5.67% | 13,547 |
| 73 | Lakeland, FL | 874,790 | $1,608 | $1,363 | 6.14% | 8,236 |
| 74 | Boise City, ID | 864,243 | $1,528 | $1,487 | 3.81% | 9,438 |
| 75 | Oxnard, CA | 830,851 | $2,424 | $2,317 | 3.38% | 1,609 |
| 76 | Dayton, OH | 826,554 | $1,248 | $1,039 | 6.20% | 1,986 |
| 77 | Stockton, CA | 823,815 | $2,015 | $1,734 | 3.92% | 2,522 |
| 78 | Greensboro, NC | 805,945 | $1,241 | $1,093 | 5.68% | 3,830 |
| 79 | Colorado Springs, CO | 781,796 | $1,616 | $1,699 | 4.41% | 5,825 |
| 80 | Little Rock, AR | 777,607 | $1,116 | $1,055 | 5.91% | 3,142 |
| 81 | Provo, UT | 773,426 | $1,363 | $1,534 | 3.44% | 7,304 |
| 82 | Des Moines, IA | 758,539 | $1,341 | $1,150 | 5.16% | 6,249 |
| 83 | Deltona, FL | 746,933 | $1,689 | $1,500 | 5.55% | 5,412 |
| 84 | Kiryas Joel, NY | 718,377 | $2,131 | $1,638 | 4.99% | 2,220 |
| 85 | Winston-Salem, NC | 712,206 | $1,270 | $1,016 | 5.23% | 4,699 |
| 86 | Madison, WI | 709,685 | $1,485 | $1,354 | 4.36% | 6,947 |
| 87 | Akron, OH | 701,780 | $1,231 | $1,033 | 5.82% | 751 |
| 88 | Ogden, UT | 672,784 | $1,591 | $1,500 | 3.82% | 3,599 |
| 89 | Palm Bay, FL | 663,982 | $1,779 | $1,556 | 5.50% | 4,624 |
| 90 | Wichita, KS | 663,809 | $1,043 | $987 | 5.89% | 3,111 |
| 91 | Syracuse, NY | 652,273 | $1,493 | $1,077 | 6.89% | 2,041 |
| 92 | Augusta, GA | 641,231 | $1,325 | $1,120 | 5.94% | 4,141 |
| 93 | Durham, NC | 625,485 | $1,697 | $1,466 | 4.44% | 6,100 |
| 94 | Fayetteville, AR | 622,177 | $1,256 | $1,157 | 4.52% | 8,961 |
| 95 | Harrisburg, PA | 617,427 | $1,598 | $1,212 | 5.75% | 1,201 |
| 96 | Jackson, MS | 609,847 | $1,241 | $1,072 | 6.42% | 1,568 |
| 97 | Spokane, WA | 608,012 | $1,464 | $1,264 | 3.74% | 3,172 |
| 98 | Toledo, OH | 599,376 | $1,145 | $939 | 6.39% | 493 |
| 99 | Chattanooga, TN | 594,530 | $1,340 | $1,163 | 5.12% | 2,958 |
| 100 | New Haven, CT | 578,741 | $2,091 | $1,525 | 5.18% | 1,020 |
Method
The 100 metros are the 100 metropolitan statistical areas with the largest POPESTIMATE2025 in the Census Bureau Vintage 2025 population estimates. Component counties are the county rows in that file. The metro Fair Market Rent by bedroom is the July 1, 2025 population-weighted mean of the FY2027 county Fair Market Rent, rounded half up. HUD publishes Fair Market Rent as the 40th percentile gross rent for a standard-quality unit (24 CFR 888.113). It is the voucher benchmark on these dashboards, separate from the ACS median gross rent column. A county with town schedules uses the population-weighted mean of those town rents. Census median rent, home value, and renter income are the ACS 2024 5-year estimates for the metropolitan statistical area. Gross rent yield equals median gross rent (B25064) times 12, divided by median home value (B25077), in percent rounded half up to 0.01. Rent-to-income equals median gross rent times 12, divided by renter median household income (B25119 renter column), on the same rounding. Rental vacancy equals vacant-for-rent units (B25004) divided by renter-occupied units (B25003) plus vacant-for-rent units, on the same rounding. Building permits are housing units authorized in the Census Building Permits Survey 2025 annual CBSA file, survey date 202599. Units are the sum of 1-unit, 2-unit, 3-and-4-unit, and 5-or-more-unit units. Valuation is the sum of the published values, which the survey reports in thousands of dollars. The Small Area FMR range is the lowest and highest ZIP Small Area FMR among component counties that have one.
Source: HUD FY2027 Fair Market Rents, effective 2026-10-01, retrieved 2026-10-10, https://www.huduser.gov/portal/datasets/fmr.html; U.S. Census Bureau Population Estimates Vintage 2025, as of 2025-07-01, https://www2.census.gov/programs-surveys/popest/datasets/2020-2025/metro/totals/cbsa-est2025-alldata.csv; American Community Survey 2024 5-year tables B25031, B25064, B25077, B25119, B25003, and B25004, as of 2024-07-01 (data years 2020-2024), retrieved 2026-10-10, https://data.census.gov/table/ACSDT5Y2024.B25064; and the Census Bureau Building Permits Survey 2025 annual CBSA file, https://www2.census.gov/econ/bps/CBSA%20(beginning%20Jan%202024)/cbsa2025a.txt.
Calculators
Tax education
Educational rental tax worksheets
Fair Market Rent on these dashboards is HUD's 40th percentile voucher rent. Census rent and home value are ACS figures. None of these amounts are taxable rent received.
Frequently asked questions
Which metropolitan area is largest in this set?
New York-Newark-Jersey City, NY-NJ at 20,112,448 on July 1, 2025. The FY2027 2-bedroom Fair Market Rent is $2,723, HUD's 40th percentile voucher rent. Census median gross rent is $1,830.
How many metro dashboards are on this page?
100 metropolitan statistical areas, ranked by Census Bureau population.
Is Fair Market Rent the same as market rent?
HUD publishes Fair Market Rent as the 40th percentile gross rent for a standard-quality unit, and uses it for Housing Choice Voucher payment standards. On this page the New York FY2027 2-bedroom Fair Market Rent is $2,723. The Census median gross rent for that metro is $1,830 (ACS 2024 5-year, table B25064).