Where Rents Are Rising (and Falling) in America’s Biggest Cities

Dennis Lee
Aug 13
2 min read

by Dennis Lee, CEO at Market Stadium

What if you could spot the next hot rental market before it even makes headlines?

Our latest rent-growth map doesn’t just show who’s winning and losing today — it reveals which markets are quietly gearing up for their next big move.

I segmented the market into four quadrants (Q1–Q4) using multifamily rent 1-year growth rate (x-axis) and average month-to-month change (y-axis). Bubble sizes indicate median rent.

Quadrant Breakdown:

🟦 Q1: High-Growth & High-Momentum Markets

Both YoY growth and MoM average are positive → sustained upward momentum.
Examples: San Jose, CA / Kansas City, MO / Providence, RI / Richmond, VA
Investment Insight: Strong outlook both short- and long-term; keep monitoring supply-demand balance.

🟩 Q2: Recovery Phase Markets

YoY growth is flat or slightly negative, but MoM average is positive → signs of rebound from recent lows.
Examples: Washington, DC / Riverside, CA / Pittsburgh, PA / Hartford, CT
Investment Insight: Potential early turnaround; watch for trend sustainability.

🟥 Q3: Declining Markets

Both YoY and MoM average are negative → potential demand slowdown or oversupply concerns.
Examples: Austin, TX / Phoenix, AZ / Denver, CO / Chicago, IL
Investment Insight: Higher entry risk in the short term; take a conservative approach until recovery signals appear.

⬛ Q4: Short-Term Correction Markets

YoY growth positive, MoM average negative → No MSAs in this category for the current period.
Meaning: No markets showing signs of losing momentum yet; overall trend remains intact.

Full details by MSA are provided in the table below: