Waller, Weeks, and Johnson Rental 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 September

Size	City	RENT	Est Rent	+/-	1MOM	3MOM	6MOM	9MOM	YOY	Affordability
0	United States	$1,978.61	$1,987.43	-0.44%	-0.06%	0.08%	1.17%	2.55%	2.35%	$79,144.00
1	New York, NY	$3,512.30	$3,314.76	5.96%	-0.07%	1.44%	4.23%	6.12%	5.25%	$140,492.00
2	Los Angeles, CA	$2,954.47	$2,985.86	-1.05%	-0.02%	0.12%	0.35%	2.72%	2.45%	$118,179.00
3	Chicago, IL	$2,112.81	$1,992.93	6.02%	-0.07%	0.65%	3.56%	5.77%	6.03%	$84,512.00
4	Dallas, TX	$1,706.10	$1,787.11	-4.53%	-0.24%	-0.63%	0.14%	1.06%	0.12%	$68,244.00
5	Houston, TX	$1,674.70	$1,691.25	-0.98%	0.09%	0.02%	-0.05%	0.85%	0.49%	$66,988.00
6	Washington, DC	$2,414.31	$2,371.64	1.80%	-0.44%	-0.68%	0.31%	2.35%	1.37%	$96,572.00
7	Philadelphia, PA	$1,880.92	$1,854.07	1.45%	0.27%	1.23%	2.12%	2.91%	3.72%	$75,237.00
8	Miami, FL	$2,678.84	$2,741.93	-2.30%	0.00%	0.01%	-0.03%	0.45%	0.81%	$107,154.00
9	Atlanta, GA	$1,882.29	$1,963.63	-4.14%	0.20%	0.74%	1.30%	3.01%	2.49%	$75,292.00
10	Boston, MA	$2,964.75	$2,913.22	1.77%	-0.46%	-0.93%	0.29%	2.46%	2.91%	$118,590.00
11	Phoenix, AZ	$1,776.29	$1,933.35	-8.12%	-0.19%	-0.62%	-0.81%	0.35%	-0.77%	$71,052.00
12	San Francisco, CA	$3,147.85	$3,050.01	3.21%	0.35%	1.43%	3.86%	5.83%	5.58%	$125,914.00
13	Riverside, CA	$2,536.40	$2,616.64	-3.07%	0.12%	0.07%	0.49%	1.80%	2.03%	$101,456.00
14	Detroit, MI	$1,510.38	$1,508.92	0.10%	0.06%	0.32%	1.58%	2.65%	3.02%	$60,415.00
15	Seattle, WA	$2,258.46	$2,274.59	-0.71%	-0.30%	0.09%	2.04%	3.57%	2.58%	$90,338.00
16	Minneapolis, MN	$1,704.76	$1,697.67	0.42%	-0.06%	0.42%	2.35%	4.33%	3.91%	$68,190.00
17	San Diego, CA	$3,015.72	$3,071.35	-1.81%	-0.09%	0.30%	1.18%	2.07%	1.87%	$120,629.00
18	Tampa, FL	$2,055.38	$2,140.94	-4.00%	-0.43%	-0.83%	-1.29%	0.15%	1.79%	$82,215.00
19	Denver, CO	$1,948.84	$2,036.57	-4.31%	-0.73%	-1.26%	0.69%	1.31%	-2.09%	$77,954.00
20	Baltimore, MD	$1,942.95	$1,906.19	1.93%	0.21%	0.78%	1.52%	2.90%	2.99%	$77,718.00
21	St. Louis, MO	$1,406.65	$1,366.77	2.92%	0.13%	1.16%	2.34%	3.11%	4.02%	$56,266.00
22	Orlando, FL	$1,988.69	$2,078.44	-4.32%	-0.31%	-0.54%	0.06%	1.60%	0.32%	$79,548.00
23	Charlotte, NC	$1,770.31	$1,829.69	-3.25%	-0.23%	-0.34%	0.59%	1.97%	1.25%	$70,812.00
24	San Antonio, TX	$1,459.18	$1,537.43	-5.09%	-0.51%	-0.73%	-0.56%	1.07%	-1.10%	$58,367.00
25	Portland, OR	$1,859.66	$1,891.49	-1.68%	-0.27%	0.17%	1.85%	2.57%	1.21%	$74,387.00
26	Sacramento, CA	$2,300.23	$2,379.47	-3.33%	-0.11%	0.37%	1.68%	2.48%	2.05%	$92,009.00
27	Pittsburgh, PA	$1,463.71	$1,425.88	2.65%	-0.01%	0.55%	2.76%	4.04%	3.89%	$58,548.00
28	Cincinnati, OH	$1,539.36	$1,517.58	1.44%	0.03%	0.71%	2.54%	2.81%	3.45%	$61,574.00
29	Austin, TX	$1,615.51	$1,786.79	-9.59%	-0.76%	-2.27%	-1.82%	-1.35%	-3.31%	$64,620.00
30	Las Vegas, NV	$1,753.89	$1,861.97	-5.80%	-0.54%	-0.67%	-0.34%	1.13%	0.22%	$70,155.00
31	Kansas City, MO	$1,510.43	$1,469.95	2.75%	-0.04%	0.75%	2.43%	4.73%	4.51%	$60,417.00
32	Columbus, OH	$1,561.83	$1,554.84	0.45%	-0.04%	-0.14%	1.31%	2.86%	2.75%	$62,473.00
34	Indianapolis, IN	$1,510.51	$1,490.05	1.37%	-0.01%	0.16%	1.72%	3.57%	3.48%	$60,421.00
35	Cleveland, OH	$1,419.05	$1,370.50	3.54%	0.43%	0.86%	1.88%	3.34%	4.93%	$56,762.00
36	San Jose, CA	$3,500.10	$3,373.91	3.74%	-0.04%	1.11%	3.41%	5.25%	3.67%	$140,004.00
37	Nashville, TN	$1,814.92	$1,878.19	-3.37%	-0.35%	-0.19%	0.53%	1.71%	0.62%	$72,597.00
38	Virginia Beach, VA	$1,819.57	$1,767.36	2.95%	0.06%	0.83%	2.96%	4.29%	4.18%	$72,783.00
39	Providence, RI	$2,168.47	$2,129.13	1.85%	-0.13%	-0.81%	1.67%	3.84%	4.62%	$86,739.00
40	Jacksonville, FL	$1,706.11	$1,776.68	-3.97%	0.02%	0.03%	0.79%	1.48%	1.07%	$68,244.00
41	Milwaukee, WI	$1,451.05	$1,410.27	2.89%	0.19%	0.26%	1.46%	3.31%	4.04%	$58,042.00
42	Oklahoma City, OK	$1,372.23	$1,348.73	1.74%	0.24%	1.20%	1.94%	3.14%	3.08%	$54,889.00
43	Raleigh, NC	$1,712.61	$1,777.39	-3.64%	-0.33%	-0.32%	0.30%	1.23%	0.73%	$68,505.00
44	Memphis, TN	$1,484.63	$1,504.79	-1.34%	-0.04%	-0.23%	1.11%	1.99%	1.91%	$59,385.00
45	Richmond, VA	$1,704.64	$1,677.45	1.62%	-0.18%	0.75%	2.79%	3.95%	3.87%	$68,186.00
46	Louisville, KY	$1,357.95	$1,335.27	1.70%	0.02%	0.54%	1.71%	2.01%	2.90%	$54,318.00
47	New Orleans, LA	$1,620.71	$1,636.99	-0.99%	-0.36%	-0.98%	-0.87%	0.29%	0.55%	$64,829.00
48	Salt Lake City, UT	$1,667.94	$1,741.78	-4.24%	-0.31%	-0.35%	1.26%	2.55%	0.14%	$66,718.00
49	Hartford, CT	$1,935.92	$1,851.08	4.58%	-0.10%	0.71%	2.15%	3.42%	3.79%	$77,437.00
50	Buffalo, NY	$1,381.58	$1,362.37	1.41%	0.24%	0.89%	2.35%	2.46%	3.02%	$55,263.00
51	Birmingham, AL	$1,396.21	$1,384.36	0.86%	-0.37%	-0.04%	1.37%	2.24%	2.73%	$55,848.00
52	Rochester, NY	$1,508.28	$1,459.08	3.37%	0.24%	1.03%	1.74%	4.38%	5.85%	$60,331.00
53	Grand Rapids, MI	$1,614.97	$1,609.15	0.36%	-0.43%	0.09%	2.45%	3.86%	3.60%	$64,599.00
54	Tucson, AZ	$1,546.84	$1,620.71	-4.56%	-0.02%	-0.19%	0.06%	0.12%	0.53%	$61,874.00
55	Urban Honolulu, HI	$2,845.36	$2,741.58	3.79%	0.36%	0.61%	3.14%	3.62%	4.53%	$113,814.00
56	Tulsa, OK	$1,388.22	$1,366.04	1.62%	0.37%	0.80%	1.49%	3.10%	2.69%	$55,529.00
57	Fresno, CA	$2,057.13	$2,099.23	-2.01%	-0.27%	0.27%	0.79%	2.67%	2.32%	$82,285.00
58	Worcester, MA	$2,121.95	$2,059.21	3.05%	-0.14%	0.61%	2.21%	4.68%	4.92%	$84,878.00
59	Omaha, NE	$1,409.05	$1,378.89	2.19%	0.02%	0.62%	1.73%	3.39%	3.56%	$56,362.00
60	Bridgeport, CT	$2,879.63	$2,803.22	2.73%	0.12%	0.37%	1.40%	3.33%	3.76%	$115,185.00
61	Greenville, SC	$1,582.37	$1,592.53	-0.64%	0.04%	-0.11%	-0.47%	1.53%	3.41%	$63,295.00
62	Albuquerque, NM	$1,561.21	$1,562.73	-0.10%	-0.01%	0.31%	1.34%	2.85%	2.49%	$62,448.00
63	Bakersfield, CA	$1,809.06	$1,811.15	-0.12%	0.08%	0.05%	1.01%	3.45%	3.41%	$72,362.00
64	Albany, NY	$1,607.60	$1,558.18	3.17%	-0.24%	0.93%	2.89%	4.52%	4.54%	$64,304.00
65	Knoxville, TN	$1,774.20	$1,783.53	-0.52%	-0.28%	-0.22%	0.99%	1.95%	2.19%	$70,968.00
66	Baton Rouge, LA	$1,363.61	$1,343.94	1.46%	0.05%	1.01%	1.97%	1.64%	1.93%	$54,544.00
67	McAllen, TX	$1,145.67	$1,161.86	-1.39%	-0.57%	-0.71%	-0.21%	0.88%	0.59%	$45,827.00
68	New Haven, CT	$2,011.50	$1,931.52	4.14%	0.42%	0.64%	1.86%	3.49%	4.00%	$80,460.00
69	El Paso, TX	$1,529.21	$1,511.64	1.16%	0.20%	0.35%	1.59%	2.30%	2.94%	$61,168.00
70	Allentown, PA	$1,796.57	$1,779.90	0.94%	-0.06%	1.26%	2.50%	3.21%	3.36%	$71,863.00
71	Oxnard, CA	$3,034.48	$3,060.62	-0.85%	-0.70%	-0.86%	-0.51%	2.21%	3.01%	$121,379.00
72	Columbia, SC	$1,598.96	$1,565.44	2.14%	0.29%	-0.01%	1.14%	3.72%	4.56%	$63,958.00
73	North Port, FL	$2,150.32	$2,302.10	-6.59%	-0.04%	-0.53%	-2.74%	-2.92%	-1.41%	$86,013.00
74	Dayton, OH	$1,359.67	$1,331.15	2.14%	0.15%	0.90%	2.59%	3.85%	4.05%	$54,387.00
75	Charleston, SC	$2,000.01	$1,998.27	0.09%	-0.50%	-0.40%	1.48%	2.65%	1.50%	$80,000.00
76	Greensboro, NC	$1,436.62	$1,423.80	0.90%	0.17%	1.02%	2.53%	2.87%	3.26%	$57,465.00
77	Stockton, CA	$2,428.28	$2,532.11	-4.10%	-0.55%	-0.83%	1.05%	2.04%	1.91%	$97,131.00
78	Cape Coral, FL	$1,924.09	$2,117.35	-9.13%	-0.35%	-1.06%	-2.66%	-3.50%	-3.62%	$76,964.00
79	Boise City, ID	$1,802.47	$1,885.35	-4.40%	-0.42%	0.32%	3.15%	4.43%	2.87%	$72,099.00
80	Colorado Springs, CO	$1,792.37	$1,892.77	-5.30%	-0.60%	-0.76%	0.76%	0.58%	-0.38%	$71,695.00
81	Little Rock, AR	$1,194.79	$1,186.75	0.68%	-0.16%	-0.15%	0.92%	2.07%	1.70%	$47,792.00
82	Lakeland, FL	$1,881.93	$1,972.44	-4.59%	-0.10%	-0.33%	0.22%	1.50%	1.19%	$75,277.00
83	Akron, OH	$1,299.45	$1,240.74	4.73%	1.15%	3.14%	3.55%	5.19%	5.20%	$51,978.00
84	Des Moines, IA	$1,277.66	$1,267.34	0.81%	-0.12%	0.55%	1.25%	2.90%	1.20%	$51,106.00
85	Springfield, MA	$1,899.68	$1,836.07	3.46%	0.03%	0.76%	2.60%	3.89%	4.54%	$75,987.00
86	Poughkeepsie, NY	$2,203.30	$2,209.52	-0.28%	0.31%	0.89%	0.28%	2.82%	2.79%	$88,132.00
87	Ogden, UT	$1,698.07	$1,760.89	-3.57%	-0.36%	0.40%	1.64%	2.01%	2.40%	$67,923.00
88	Madison, WI	$1,803.45	$1,743.90	3.41%	0.84%	0.71%	1.41%	1.78%	4.21%	$72,138.00
89	Winston, NC	$1,583.19	$1,559.76	1.50%	-0.13%	0.63%	3.02%	3.72%	4.29%	$63,327.00
90	Deltona, FL	$1,842.83	$1,914.77	-3.76%	0.15%	0.07%	0.48%	1.75%	1.45%	$73,713.00
91	Syracuse, NY	$1,610.96	$1,542.42	4.44%	1.01%	1.78%	2.94%	3.88%	6.43%	$64,439.00
92	Provo, UT	$1,805.62	$1,856.76	-2.75%	-0.13%	0.31%	2.05%	2.65%	1.62%	$72,225.00
93	Toledo, OH	$1,173.02	$1,147.50	2.22%	0.29%	0.75%	2.97%	2.77%	3.56%	$46,921.00
94	Wichita, KS	$1,186.85	$1,147.05	3.47%	0.25%	1.73%	2.70%	4.46%	4.07%	$47,474.00
95	Durham, NC	$1,665.32	$1,723.99	-3.40%	-0.47%	-1.03%	0.43%	1.72%	0.38%	$66,613.00
96	Augusta, GA	$1,468.82	$1,453.20	1.07%	-0.08%	-0.05%	0.97%	2.95%	5.18%	$58,753.00
97	Palm Bay, FL	$1,950.00	$2,046.12	-4.70%	0.11%	-0.16%	0.34%	0.72%	0.95%	$78,000.00
98	Jackson, MS	$1,485.71	$1,425.64	4.21%	0.12%	1.72%	2.70%	3.52%	4.32%	$59,428.00
99	Harrisburg, PA	$1,435.44	$1,410.10	1.80%	0.65%	1.94%	2.73%	3.62%	4.56%	$57,418.00
100	Spokane, WA	$1,522.34	$1,601.04	-4.92%	0.30%	0.03%	1.23%	2.93%	2.31%	$60,894.00

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Rental Data Ending End of September

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