flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Most popular cities for renters mid-2024

MFPRO+ News

Most popular cities for renters mid-2024

Based on RentCafe research and year-over-year comparisons, these are 10 metros that saw the most increased interest from renters in the first half of 2024.


By Quinn Purcell, Managing Editor | July 24, 2024
Minneapolis Minnesota
Minneapolis, Minn. Photo courtesy Adobe Stock

Rental activity in the U.S. continues to grow halfway through 2024. With the work-from-home boom stabilizing, more renters are eying desirable cities to relocate to.

In its mid-year rental activity report, RentCafe examined the rental activity of 30 cities to determine where renters' interests lie. Several factors were compared year-over-year from early 2023 activity to construct the list.

Top 10 Cities for Rental Activity in the First Half of 2024

RentCafe data analyzed rental activity in the last six months compared to the same period last year (early 2023) to find the most coveted cities for renters. Rankings for each city were determined based on these categories: apartment availability, page views, apartments saved as favorites, and saved personalized searches.

These are ten metropolitan areas poised to become hotspots in the coming months.

Top 10 cities for rental activity in the first half of 2024


1. Minneapolis, Minn.

Minneapolis, Minn., stands as the most desirable city for renters in the first half of 2024. The amount of people searching for apartments in Minneapolis nearly doubled compared to early 2023. Because of the increased interest in the city, available apartments decreased by 21% year-over-year.

2. Overland Park, Kan.

Overland Park, Kan., is the second city in the list for renters. The city had increased saved searches for apartments (31%) and a surge in favorited listings. Overland Park also saw a 129% increase in page views on RentCafe.com compared to the first half of 2023.

3. Atlanta, Ga.

Atlanta, Ga., the third metro on the list, continues to see higher renter interest. Though Atlanta has fewer favorited listings and fewer searches than the previous year, it still remains high on the list, helping to represent the South for rental activity.

4. Cleveland, Ohio

Cleveland, Ohio, much like Columbus and Cincinnati, has seen a surge of new people moving into the city. Cleveland comes fourth in the list, aided by a 52% increase in page views and 13% growth in favorites. However, it has seen a decrease in apartment availability, dropping 26%.

5. Queens, N.Y.

Queens, N.Y., is the fifth most popular city on the list for the first half of 2024. An increase in apartment development projects contribute to the draw for renters. Website traffic for apartment searches increased 138% year-over-year and favorited listings increased 6%.

6. Washington, D.C.

Washington, D.C., is sixth on the list. As one of the top cities for renters this year, Washington, D.C., has seen an increase in traffic (13%) but a decrease in available listings (–9%) the first half of 2024. According to RentCafe, the city's 37% drop in saved apartment searches suggest that apartment seekers are keeping their options open before committing to a lease.

7. Tacoma, Wash.

Tacoma, Wash., is the seventh sought-after city for renters. Website traffic for apartments nearly doubled (89%) from last year, while available listings dropped 13% at the same time.

8. Orlando, Fla.

Orlando, Fla., is the eighth city on the list. Though the popular metro had slightly lower website traffic, saved searches, and favorites then last year, renter interest remained high. Available listings dropped by 18% as well.

9. Philadelphia, Pa.

Philadelphia, Pa., makes the ninth spot on the list for rental demand. It boasts a 76% growth in website traffic with a 16% in available listings. 

10. Richmond, Va.

Richmond, Va., is the tenth most desirable city for renters in the first half of 2024. The amount of people saving and favoriting listings dropped 31% and 25% respectively. However, Available listings decreased 14% and website traffic grew 19% compared the early 2023.

Related Stories

MFPRO+ News | Mar 2, 2024

Job gains boost Yardi Matrix National Rent Forecast for 2024

Multifamily asking rents broke the five-month streak of sequential average declines in January, rising 0.07 percent, shows a new special report from Yardi Matrix.

MFPRO+ News | Mar 1, 2024

Housing affordability, speed of construction are top of mind for multifamily architecture and construction firms

The 2023 Multifamily Giants get creative to solve the affordability crisis, while helping their developer clients build faster and more economically. 

MFPRO+ Research | Feb 28, 2024

New download: BD+C's 2023 Multifamily Amenities report

New research from Building Design+Construction and Multifamily Pro+ highlights the 127 top amenities that developers, property owners, architects, contractors, and builders are providing in today’s apartment, condominium, student housing, and senior living communities.

Affordable Housing | Feb 26, 2024

Biden-Harris Administration announces historic homelessness assistance funding

The Biden-Harris Administration allocation of $3.16 billion in homelessness assistance funding will be administered by the U.S. Department of Housing and Urban Development through the Continuum of Care Program.

Designers | Feb 23, 2024

Coverings releases top 2024 tile trends

In celebration of National Tile Day, Coverings, North America's leading tile and stone exhibition, has announced the top 10 tile trends for 2024.

MFPRO+ Special Reports | Feb 22, 2024

Crystal Lagoons: A deep dive into real estate's most extreme guest amenity

These year-round, manmade, crystal clear blue lagoons offer a groundbreaking technology with immense potential to redefine the concept of water amenities. However, navigating regulatory challenges and ensuring long-term sustainability are crucial to success with Crystal Lagoons.

Building Tech | Feb 20, 2024

Construction method featuring LEGO-like bricks wins global innovation award

A new construction method featuring LEGO-like bricks made from a renewable composite material took first place for building innovations at the 2024 JEC Composites Innovation Awards in Paris, France.

Student Housing | Feb 19, 2024

UC Law San Francisco’s newest building provides student housing at below-market rental rates

Located in San Francisco’s Tenderloin and Civic Center neighborhoods, UC Law SF’s newest building helps address the city’s housing crisis by providing student housing at below-market rental rates. The $282 million, 365,000-sf facility at 198 McAllister Street enables students to live on campus while also helping to regenerate the neighborhood.

Multifamily Housing | Feb 16, 2024

5 emerging multifamily trends for 2024

As priorities realign and demographic landscapes transform, multifamily designers and developers find themselves in a continuous state of adaptation to resonate with residents.

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021