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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 December

Size City RENT Est Rent +/- 1MOM 3MOM 6MOM 9MOM YOY Affordability
0 United States $1,901 $1,940 -2.04% -0.22% -0.70% -0.65% 0.56% 2.09% $76,020
1 New York, NY $3,225 $3,124 3.25% -0.36% -1.39% 0.03% 2.80% 4.67% $129,014
2 Los Angeles, CA $2,885 $2,958 -2.47% -0.33% -0.65% -0.55% -0.22% 2.22% $115,401
3 Chicago, IL $2,052 $1,972 4.03% -0.13% -0.62% 0.02% 2.92% 5.23% $82,071
4 Dallas, TX $1,642 $1,748 -6.03% -0.31% -1.06% -1.77% -0.83% 0.29% $65,684
5 Houston, TX $1,617 $1,659 -2.56% -0.26% -1.05% -1.05% -1.00% 0.04% $64,678
6 Washington, DC $2,343 $2,360 -0.71% -0.45% -1.71% -2.40% -1.36% 0.74% $93,721
7 Philadelphia, PA $1,850 $1,843 0.38% 0.07% -0.08% 1.12% 2.10% 3.06% $74,014
8 Miami, FL $2,652 $2,745 -3.39% -0.04% -0.12% -0.17% -0.06% 0.62% $106,067
9 Atlanta, GA $1,819 $1,932 -5.84% -0.43% -1.10% -0.36% 0.39% 2.34% $72,745
10 Boston, MA $2,990 $2,979 0.37% 0.14% -0.45% -1.44% -0.09% 2.09% $119,594
11 Phoenix, AZ $1,728 $1,911 -9.58% -0.28% -1.11% -1.78% -1.82% -0.53% $69,122
12 San Francisco, CA $3,066 $2,999 2.23% -0.15% -0.16% 1.20% 3.65% 5.74% $122,643
13 Riverside, CA $2,477 $2,585 -4.15% -0.01% -0.16% -0.16% 0.40% 1.87% $99,096
14 Detroit, MI $1,461 $1,477 -1.07% 0.19% -0.09% 0.16% 1.42% 2.66% $58,443
15 Seattle, WA $2,185 $2,245 -2.67% -0.43% -1.23% -1.15% 0.78% 2.57% $87,409
16 Minneapolis, MN $1,675 $1,682 -0.39% 0.20% -0.04% 0.36% 2.33% 4.44% $67,008
17 San Diego, CA $2,889 $2,998 -3.63% -0.29% -0.95% -0.70% 0.26% 1.27% $115,549
18 Tampa, FL $2,000 $2,125 -5.89% -0.20% -1.12% -2.01% -2.35% -0.76% $79,980
19 Denver, CO $1,856 $2,002 -7.25% -0.84% -2.77% -4.05% -2.05% -1.27% $74,260
20 Baltimore, MD $1,871 $1,861 0.56% -0.06% -0.45% 0.35% 1.08% 2.56% $74,858
21 St. Louis, MO $1,400 $1,374 1.90% 0.16% 0.22% 1.35% 2.64% 3.64% $56,016
22 Orlando, FL $1,934 $2,061 -6.19% -0.36% -1.33% -1.86% -1.11% 0.51% $77,343
23 Charlotte, NC $1,716 $1,809 -5.14% -0.44% -1.29% -1.63% -0.55% 1.00% $68,633
24 San Antonio, TX $1,362 $1,468 -7.23% -0.62% -2.05% -2.82% -2.57% -0.83% $54,477
25 Portland, OR $1,793 $1,867 -4.00% -0.58% -1.79% -1.62% 0.12% 0.97% $71,712
26 Sacramento, CA $2,212 $2,321 -4.69% -0.21% -0.69% -0.34% 1.16% 2.08% $88,477
27 Pittsburgh, PA $1,463 $1,442 1.46% -0.17% -0.12% 0.44% 2.68% 4.02% $58,505
28 Cincinnati, OH $1,521 $1,531 -0.66% -0.22% -0.88% -0.27% 1.64% 2.32% $60,850
29 Austin, TX $1,568 $1,764 -11.12% -0.45% -1.78% -4.11% -3.46% -2.76% $62,721
30 Las Vegas, NV $1,723 $1,856 -7.18% -0.11% -0.97% -1.57% -1.22% 0.43% $68,925
31 Kansas City, MO $1,448 $1,434 1.00% 0.00% -0.47% 0.22% 2.01% 4.40% $57,928
32 Columbus, OH $1,446 $1,468 -1.54% -0.61% -0.96% -1.14% 0.51% 2.28% $57,822
34 Indianapolis, IN $1,494 $1,494 0.04% -0.15% -0.09% 0.00% 1.49% 3.73% $59,776
35 Cleveland, OH $1,381 $1,340 3.01% 0.18% 0.80% 1.76% 2.90% 4.38% $55,220
36 San Jose, CA $3,399 $3,316 2.52% 0.12% -0.39% 0.71% 3.09% 4.87% $135,969
37 Nashville, TN $1,765 $1,864 -5.34% -0.44% -1.52% -1.70% -0.79% 0.53% $70,582
38 Virginia Beach, VA $1,782 $1,739 2.48% 0.47% 0.84% 1.66% 3.98% 5.43% $71,277
39 Providence, RI $2,075 $2,044 1.52% 0.17% 1.07% 0.29% 2.98% 5.15% $83,001
40 Jacksonville, FL $1,659 $1,762 -5.87% -0.43% -1.31% -1.38% -0.41% 0.40% $66,357
41 Milwaukee, WI $1,433 $1,397 2.57% -0.07% 0.87% 1.09% 2.31% 4.28% $57,303
42 Oklahoma City, OK $1,334 $1,331 0.28% -0.20% -0.48% 0.74% 1.50% 2.85% $53,377
43 Raleigh, NC $1,667 $1,764 -5.51% -0.36% -1.39% -1.74% -0.98% 0.21% $66,674
44 Memphis, TN $1,401 $1,439 -2.61% -0.26% -0.41% -0.63% 0.70% 1.89% $56,038
45 Richmond, VA $1,651 $1,659 -0.45% 0.08% -0.84% -0.20% 1.79% 3.15% $66,047
46 Louisville, KY $1,350 $1,349 0.04% -0.05% -0.54% 0.00% 1.24% 1.68% $53,982
47 New Orleans, LA $1,575 $1,605 -1.88% 0.21% -0.22% -1.22% -1.10% 0.28% $62,986
48 Salt Lake City, UT $1,600 $1,716 -6.79% -0.83% -2.05% -2.45% -0.79% 0.72% $63,994
49 Hartford, CT $1,830 $1,779 2.83% -0.20% -0.33% 0.40% 1.96% 3.28% $73,187
50 Buffalo, NY $1,367 $1,362 0.35% 0.18% 0.06% 0.86% 2.55% 2.71% $54,662
51 Birmingham, AL $1,375 $1,386 -0.85% -0.13% -0.76% -0.82% 0.59% 1.85% $54,985
52 Rochester, NY $1,492 $1,455 2.53% 0.35% 0.59% 1.43% 2.53% 5.22% $59,665
53 Grand Rapids, MI $1,720 $1,732 -0.68% 0.06% 0.09% 0.14% 2.71% 4.11% $68,813
54 Tucson, AZ $1,463 $1,563 -6.41% -0.34% -1.19% -1.44% -0.86% -0.78% $58,528
55 Urban Honolulu, HI $2,757 $2,662 3.54% -0.01% 0.81% 1.54% 4.09% 4.71% $110,266
56 Tulsa, OK $1,361 $1,358 0.23% -0.27% -0.42% 0.44% 1.35% 2.89% $54,453
57 Fresno, CA $1,850 $1,899 -2.58% 0.45% 0.49% 0.80% 1.34% 3.40% $73,981
58 Worcester, MA $2,096 $2,068 1.32% 0.20% -0.29% 0.37% 1.93% 4.63% $83,832
59 Omaha, NE $1,386 $1,367 1.39% 0.25% 0.27% 0.98% 2.19% 4.02% $55,451
60 Bridgeport, CT $2,727 $2,697 1.09% -0.11% -0.38% -0.04% 1.12% 3.16% $109,067
61 Greenville, SC $1,539 $1,568 -1.82% 0.07% -0.15% -0.34% -0.51% 1.36% $61,572
62 Albuquerque, NM $1,520 $1,556 -2.36% -0.58% -1.16% -0.87% 0.20% 1.68% $60,787
63 Bakersfield, CA $1,783 $1,816 -1.81% -0.52% -0.46% -0.50% 0.44% 2.76% $71,329
64 Albany, NY $1,587 $1,560 1.75% 0.26% -0.12% 0.60% 2.60% 4.43% $63,475
65 Knoxville, TN $1,715 $1,766 -2.93% -0.04% -1.23% -1.52% -0.18% 0.84% $68,587
66 Baton Rouge, LA $1,344 $1,346 -0.12% -0.29% -1.00% 0.07% 0.89% 0.92% $53,779
67 McAllen, TX $1,126 $1,147 -1.85% 0.26% 0.11% -0.59% 0.12% 1.00% $45,037
68 New Haven, CT $1,929 $1,873 3.02% 0.12% 0.44% 1.02% 2.27% 4.05% $77,165
69 El Paso, TX $1,496 $1,501 -0.37% 0.04% -0.48% -0.13% 0.90% 1.92% $59,827
70 Allentown, PA $1,760 $1,768 -0.44% 0.05% -0.28% 1.03% 2.41% 3.07% $70,402
71 Oxnard, CA $2,971 $3,041 -2.33% 0.26% -0.58% -1.47% -1.03% 1.94% $118,821
72 Columbia, SC $1,542 $1,524 1.16% -0.05% 0.34% 0.33% 1.60% 4.13% $61,679
73 North Port, FL $2,094 $2,269 -7.68% -0.23% -0.53% -1.14% -3.13% -2.90% $83,772
74 Dayton, OH $1,278 $1,271 0.53% -0.13% -0.33% 0.51% 2.36% 3.52% $51,127
75 Charleston, SC $1,928 $1,962 -1.72% 0.04% -0.67% -1.09% 0.83% 2.19% $77,132
76 Greensboro, NC $1,387 $1,397 -0.68% -0.20% -0.32% 0.67% 2.36% 2.54% $55,497
77 Stockton, CA $2,338 $2,428 -3.71% 0.49% 1.17% 0.45% 2.36% 3.79% $93,506
78 Cape Coral, FL $1,832 $2,056 -10.91% -0.10% -1.56% -2.71% -4.16% -4.65% $73,276
79 Boise City, ID $1,737 $1,858 -6.54% -0.38% -1.44% -1.19% 1.67% 3.04% $69,477
80 Colorado Springs, CO $1,688 $1,831 -7.78% -0.59% -2.16% -2.91% -1.31% -1.38% $67,523
81 Little Rock, AR $1,221 $1,218 0.25% 0.20% 0.61% 0.34% 1.49% 2.65% $48,848
82 Lakeland, FL $1,833 $1,951 -6.04% -0.30% -0.89% -1.16% -0.51% 1.06% $73,336
83 Akron, OH $1,231 $1,212 1.55% -0.31% -1.66% 1.36% 1.85% 3.64% $49,228
84 Des Moines, IA $1,249 $1,263 -1.08% -0.16% -1.42% -0.73% 0.15% 1.77% $49,968
85 Springfield, MA $1,939 $1,870 3.65% 1.01% 1.21% 2.51% 4.50% 5.79% $77,547
86 Poughkeepsie, NY $2,164 $2,213 -2.19% 0.02% -0.71% -0.02% -0.23% 2.22% $86,575
87 Ogden, UT $1,655 $1,755 -5.72% 0.09% -1.20% -1.13% 0.22% 1.28% $66,196
88 Madison, WI $1,632 $1,600 1.98% -0.66% -0.05% 0.49% 1.29% 1.95% $65,285
89 Winston, NC $1,503 $1,518 -1.05% 0.02% -1.34% -0.76% 1.79% 2.75% $60,100
90 Deltona, FL $1,771 $1,876 -5.59% -0.60% -1.10% -1.00% -0.49% 0.86% $70,857
91 Syracuse, NY $1,592 $1,547 2.94% 0.22% 0.00% 1.81% 2.98% 4.00% $63,680
92 Provo, UT $1,767 $1,854 -4.66% -0.58% -1.24% -0.91% 0.80% 1.98% $70,695
93 Toledo, OH $1,176 $1,151 2.20% 0.49% 1.31% 2.05% 4.29% 4.43% $47,034
94 Wichita, KS $1,139 $1,116 2.06% 0.01% -0.18% 1.51% 2.68% 4.30% $45,548
95 Durham, NC $1,645 $1,721 -4.45% -0.35% -0.44% -1.50% 0.11% 1.36% $65,791
96 Augusta, GA $1,489 $1,507 -1.17% -0.38% -1.07% -1.18% 0.16% 2.24% $59,570
97 Palm Bay, FL $1,895 $2,010 -5.72% -0.05% -0.26% -0.43% 0.26% 0.68% $75,809
98 Jackson, MS $1,548 $1,494 3.61% 0.76% 0.59% 2.31% 3.29% 4.42% $61,916
99 Harrisburg, PA $1,382 $1,383 -0.07% -0.50% -0.75% 1.18% 2.02% 3.28% $55,294
100 Spokane, WA $1,500 $1,602 -6.36% -0.18% -0.66% -0.69% 0.56% 2.31% $59,989

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