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Waller, Weeks, and Johnson Rental Index
Waller, Weeks and Johnson Renatl Index

The Waller, Weeks and Johnson Rental Index is produced monthly for the top 100 US metros (MSAs) based on population. The index is provided to assist all in making unbiased rental decisions. Raw data from third party information providers (Zillow, Redfin, Realtor.com, etc.) is employed to estimate rents for the 100 largest MSAs and the U.S. as a whole. Differences between average rent for an MSA and estimated rent are calculated as a percentage change to indicate the scale of over(under) pricing for the MSA in question.

Additionally, Month-over-Month through Year-over-Year percentage changes in rents are also addressed. Affordability is also addressed — households making less than the indicated amount for an MSA will have difficulty acquiring savings, necessary healthcare, and other needed services due to local rent prices.

RENT is average monthly unit rent for an MSA
Est Rent is statistically estimated unit rent for an MSA
+/- is the percentage of over(under) pricing for an MSA
1MOM is the one-month change in rent prices for an MSA
3MOM is the three-month change in rent prices for an MSA
6MOM is the six-month change in rent prices for an MSA
9MOM is the nine-month change in rent prices for an MSA
YOY is the 12-month change in rent prices for the MSA
Affordability indicates the minimal annual household income needed to avoid difficulty in making making monthly rents for an MSA

Index Authors

Bennie D. Waller, Ph.D.
William Cary Hulsey Fellow
Culverhouse College of Business
The University of Alabama
Profile | Email

Shelton Weeks, Ph.D.
Lucas Professor of Real Estate & Director of the Lucas Institute for Real Estate Development & Finance
Florida Gulf Coast University
Profile | Email

Ken Johnson, Ph.D.
Christie Kirkland Walker Chair of Real Estate & Professor of Finance
School of Business Administration
The University of Mississippi
Profile | Email

For inquiries from reporters and media outlets seeking comments, please feel free to reach out through the contact information provided on this website.

 

Rental Data Ending End of November

Size City RENT Est Rent +/- 1MOM 3MOM 6MOM 9MOM YOY Affordability
0 United States $1,925 $1,956 -1.56% -0.29% -0.55% -0.17% 1.40% 2.18% $77,011
1 New York, NY $3,294 $3,166 4.02% -0.62% -1.08% 1.36% 4.12% 4.88% $131,746
2 Los Angeles, CA $2,906 $2,963 -1.91% -0.23% -0.34% -0.07% 0.89% 2.31% $116,239
3 Chicago, IL $2,049 $1,960 4.54% -0.27% -0.64% 0.96% 3.94% 5.55% $81,948
4 Dallas, TX $1,660 $1,759 -5.63% -0.38% -1.04% -1.41% 0.00% 0.16% $66,397
5 Houston, TX $1,625 $1,660 -2.11% -0.39% -0.68% -1.21% -0.22% 0.11% $65,003
6 Washington, DC $2,356 $2,358 -0.09% -0.69% -1.75% -1.86% -0.09% 0.77% $94,248
7 Philadelphia, PA $1,859 $1,848 0.62% -0.04% 0.13% 1.52% 2.17% 3.29% $74,373
8 Miami, FL $2,658 $2,742 -3.06% -0.03% -0.13% -0.22% 0.18% 0.64% $106,328
9 Atlanta, GA $1,841 $1,941 -5.20% -0.41% -0.41% 0.23% 1.56% 2.50% $73,624
10 Boston, MA $2,939 $2,923 0.52% -0.24% -1.10% -1.41% 0.56% 2.39% $117,544
11 Phoenix, AZ $1,745 $1,922 -9.21% -0.44% -1.04% -1.64% -1.08% -0.63% $69,794
12 San Francisco, CA $3,099 $3,020 2.61% -0.17% 0.31% 2.10% 4.82% 5.78% $123,964
13 Riverside, CA $2,504 $2,606 -3.90% -0.13% -0.07% -0.06% 0.70% 1.84% $100,178
14 Detroit, MI $1,481 $1,495 -0.95% -0.30% -0.28% 0.25% 1.60% 2.61% $59,239
15 Seattle, WA $2,208 $2,255 -2.07% -0.44% -1.13% -0.03% 1.84% 2.65% $88,331
16 Minneapolis, MN $1,696 $1,702 -0.34% -0.19% -0.33% 0.82% 2.80% 4.18% $67,832
17 San Diego, CA $2,933 $3,027 -3.11% -0.54% -0.76% -0.12% 1.08% 1.24% $117,313
18 Tampa, FL $2,004 $2,120 -5.45% -0.47% -1.35% -2.02% -1.74% 0.12% $80,169
19 Denver, CO $1,890 $2,020 -6.43% -0.98% -2.69% -2.83% -0.45% -1.81% $75,585
20 Baltimore, MD $1,892 $1,876 0.82% -0.22% -0.22% 0.50% 1.68% 2.69% $75,671
21 St. Louis, MO $1,397 $1,368 2.12% -0.19% 0.17% 1.52% 2.74% 3.69% $55,871
22 Orlando, FL $1,953 $2,071 -5.71% -0.54% -1.28% -1.37% -0.15% 0.43% $78,104
23 Charlotte, NC $1,737 $1,820 -4.54% -0.46% -1.07% -0.90% 0.38% 1.22% $69,495
24 San Antonio, TX $1,383 $1,481 -6.63% -0.65% -1.99% -2.34% -1.24% -0.70% $55,326
25 Portland, OR $1,805 $1,866 -3.28% -0.68% -1.47% -0.48% 1.20% 0.88% $72,197
26 Sacramento, CA $2,245 $2,346 -4.28% -0.33% -0.57% 0.27% 1.76% 1.81% $89,807
27 Pittsburgh, PA $1,472 $1,444 1.92% 0.24% -0.02% 1.36% 3.44% 4.15% $58,874
28 Cincinnati, OH $1,539 $1,540 -0.04% -0.47% -0.68% 0.48% 2.50% 2.32% $61,576
29 Austin, TX $1,587 $1,779 -10.82% -0.69% -2.14% -3.85% -2.79% -2.98% $63,474
30 Las Vegas, NV $1,739 $1,862 -6.62% -0.28% -0.97% -1.05% -0.11% 0.59% $69,553
31 Kansas City, MO $1,462 $1,443 1.35% -0.30% -0.57% 0.81% 2.71% 4.41% $58,495
32 Columbus, OH $1,488 $1,498 -0.66% -0.57% -0.48% -0.34% 2.00% 2.68% $59,522
34 Indianapolis, IN $1,504 $1,496 0.57% 0.21% 0.02% 0.59% 2.34% 4.02% $60,179
35 Cleveland, OH $1,390 $1,346 3.28% 0.16% 1.12% 1.86% 3.25% 4.91% $55,613
36 San Jose, CA $3,414 $3,327 2.62% -0.24% -0.57% 1.33% 3.91% 4.18% $136,560
37 Nashville, TN $1,781 $1,870 -4.78% -0.68% -1.35% -0.99% 0.22% 0.63% $71,246
38 Virginia Beach, VA $1,803 $1,761 2.41% 0.22% 0.40% 2.03% 3.91% 4.77% $72,130
39 Providence, RI $2,119 $2,082 1.74% 0.39% 0.70% 0.70% 3.52% 5.38% $84,746
40 Jacksonville, FL $1,666 $1,759 -5.29% -0.57% -0.88% -0.66% 0.52% 0.63% $66,658
41 Milwaukee, WI $1,424 $1,382 2.99% 0.60% 1.07% 1.54% 2.80% 4.79% $56,948
42 Oklahoma City, OK $1,346 $1,336 0.76% -0.21% -0.10% 1.13% 2.04% 3.09% $53,827
43 Raleigh, NC $1,680 $1,771 -5.13% -0.61% -1.44% -1.43% -0.28% 0.54% $67,189
44 Memphis, TN $1,430 $1,460 -2.06% -0.23% -0.11% 0.05% 1.77% 1.85% $57,189
45 Richmond, VA $1,671 $1,675 -0.22% -0.33% -1.20% 0.12% 2.63% 3.27% $66,846
46 Louisville, KY $1,348 $1,342 0.45% -0.20% -0.48% 0.34% 1.45% 2.12% $53,906
47 New Orleans, LA $1,598 $1,630 -1.95% -0.20% -0.88% -1.66% -0.69% -0.31% $63,915
48 Salt Lake City, UT $1,609 $1,707 -5.78% -0.68% -1.52% -1.31% 0.66% 0.75% $64,345
49 Hartford, CT $1,855 $1,791 3.58% 0.12% -0.13% 0.85% 2.64% 3.96% $74,183
50 Buffalo, NY $1,349 $1,342 0.54% -0.15% 0.16% 1.24% 2.41% 2.51% $53,969
51 Birmingham, AL $1,365 $1,372 -0.51% -0.42% -1.12% -0.45% 1.26% 1.65% $54,602
52 Rochester, NY $1,490 $1,453 2.55% 0.08% 0.41% 1.64% 2.95% 5.26% $59,620
53 Grand Rapids, MI $1,704 $1,709 -0.31% 0.24% -0.34% 1.21% 3.12% 4.39% $68,151
54 Tucson, AZ $1,510 $1,604 -5.89% -0.35% -0.94% -1.07% -0.56% -0.73% $60,398
55 Urban Honolulu, HI $2,791 $2,686 3.89% 0.24% 1.24% 2.47% 4.17% 4.84% $111,635
56 Tulsa, OK $1,397 $1,384 0.97% -0.01% 0.59% 0.80% 2.41% 2.57% $55,894
57 Fresno, CA $2,034 $2,092 -2.77% -0.24% -0.26% 0.27% 1.93% 2.48% $81,348
58 Worcester, MA $2,082 $2,048 1.65% 0.04% -0.51% 0.81% 2.94% 4.43% $83,271
59 Omaha, NE $1,395 $1,375 1.46% 0.08% 0.11% 0.95% 2.50% 3.92% $55,798
60 Bridgeport, CT $2,775 $2,723 1.91% -0.25% 0.15% 0.70% 1.89% 4.07% $111,001
61 Greenville, SC $1,549 $1,575 -1.65% -0.17% -0.22% -0.58% -0.54% 2.09% $61,961
62 Albuquerque, NM $1,525 $1,548 -1.53% -0.52% -0.68% -0.16% 1.35% 2.25% $60,993
63 Bakersfield, CA $1,782 $1,798 -0.90% 0.08% -0.04% 0.68% 2.06% 2.97% $71,279
64 Albany, NY $1,582 $1,554 1.83% -0.28% -0.67% 0.86% 3.51% 4.16% $63,296
65 Knoxville, TN $1,750 $1,795 -2.47% -0.78% -1.40% -1.00% 0.70% 0.63% $70,017
66 Baton Rouge, LA $1,339 $1,334 0.37% -0.01% -0.52% 0.63% 1.60% 1.07% $53,576
67 McAllen, TX $1,124 $1,145 -1.81% -0.01% -0.59% -0.40% 0.27% 0.93% $44,961
68 New Haven, CT $1,938 $1,874 3.45% 0.19% 0.76% 1.20% 2.66% 4.55% $77,529
69 El Paso, TX $1,504 $1,505 -0.06% -0.02% -0.29% 0.07% 1.21% 2.30% $60,152
70 Allentown, PA $1,774 $1,778 -0.19% -0.23% -0.35% 1.49% 2.49% 2.97% $70,977
71 Oxnard, CA $2,941 $3,012 -2.34% -0.56% -1.59% -1.42% -0.28% 1.77% $117,650
72 Columbia, SC $1,562 $1,538 1.58% 0.26% 0.67% 0.37% 2.52% 4.58% $62,488
73 North Port, FL $2,109 $2,276 -7.33% 0.03% -0.30% -1.79% -3.04% -2.40% $84,370
74 Dayton, OH $1,294 $1,281 1.01% 0.03% -0.10% 1.37% 2.78% 3.60% $51,773
75 Charleston, SC $1,948 $1,977 -1.48% -0.44% -1.28% -0.54% 1.37% 1.50% $77,916
76 Greensboro, NC $1,393 $1,395 -0.15% -0.03% -0.05% 1.48% 2.50% 2.70% $55,705
77 Stockton, CA $2,356 $2,451 -3.88% 0.42% 0.16% 0.86% 2.27% 2.96% $94,233
78 Cape Coral, FL $1,856 $2,080 -10.77% -0.55% -1.84% -3.45% -4.09% -4.75% $74,232
79 Boise City, ID $1,771 $1,883 -5.96% -0.56% -1.53% 0.12% 2.67% 2.88% $70,825
80 Colorado Springs, CO $1,710 $1,841 -7.12% -0.67% -2.12% -1.79% -0.63% -1.10% $68,383
81 Little Rock, AR $1,210 $1,207 0.25% 0.03% 0.09% -0.30% 2.14% 2.34% $48,407
82 Lakeland, FL $1,841 $1,951 -5.61% -0.16% -0.62% -0.80% 0.03% 1.53% $73,653
83 Akron, OH $1,246 $1,219 2.24% -1.08% -0.28% 2.58% 2.35% 3.52% $49,855
84 Des Moines, IA $1,250 $1,260 -0.78% -0.51% -1.28% -0.64% 1.16% 1.28% $50,020
85 Springfield, MA $1,940 $1,874 3.52% 0.53% 1.02% 2.03% 4.39% 5.32% $77,611
86 Poughkeepsie, NY $2,189 $2,230 -1.84% -0.99% -0.47% 0.08% 1.09% 1.28% $87,557
87 Ogden, UT $1,651 $1,748 -5.53% -0.76% -1.75% -0.71% 0.57% 0.95% $66,060
88 Madison, WI $1,801 $1,744 3.23% 0.02% 1.51% 1.42% 2.46% 3.40% $72,025
89 Winston, NC $1,530 $1,542 -0.74% -0.78% -1.62% -0.18% 2.68% 2.18% $61,218
90 Deltona, FL $1,772 $1,860 -4.71% 0.28% -0.26% -0.51% 0.88% 1.28% $70,896
91 Syracuse, NY $1,570 $1,523 3.14% 0.47% 0.78% 1.96% 2.30% 5.60% $62,812
92 Provo, UT $1,798 $1,868 -3.76% -0.36% -0.68% 0.20% 2.33% 2.04% $71,901
93 Toledo, OH $1,156 $1,133 2.07% 0.24% 1.10% 1.91% 3.76% 4.33% $46,255
94 Wichita, KS $1,165 $1,138 2.43% -0.40% 0.00% 2.09% 3.14% 4.14% $46,613
95 Durham, NC $1,668 $1,740 -4.13% 0.08% -0.67% -0.58% 1.01% 0.94% $66,731
96 Augusta, GA $1,486 $1,491 -0.34% -0.36% -0.71% -0.59% 1.03% 3.15% $59,437
97 Palm Bay, FL $1,921 $2,032 -5.46% -0.19% -0.11% -0.30% 0.65% 0.44% $76,848
98 Jackson, MS $1,534 $1,486 3.19% -0.09% -0.03% 1.64% 2.73% 4.37% $61,354
99 Harrisburg, PA $1,380 $1,370 0.76% -0.31% 0.44% 1.93% 2.87% 4.26% $55,220
100 Spokane, WA $1,510 $1,605 -5.92% -0.22% -0.26% -0.61% 1.72% 2.52% $60,397

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