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Americans around the country continue to face a tight housing market and a new report breaks down the hottest rental markets with summer fast approaching.
An analysis by Zillow finds that the majority of the nation’s most in-demand rental markets will be found in the Northeast and California this summer – though there are several notable exceptions.
“In Zillow’s hottest rental markets, the math is simple: More people want to live there than there are homes to rent – whether for access to amenities, strong job markets or family ties, renters are competing over a limited supply,” said Kara Ng, senior economist at Zillow.
“The U.S. built more new units in 2024 than any year in the past half-century, but that boom largely bypassed the Northeast and coastal California, which is exactly why rental competition there is so intense,” Ng said.
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“Markets that missed out on the list aren’t necessarily lacking demand; they just did a better job bringing new supply online,” Ng added.
Here’s a look at the 10 hottest rental housing markets in the U.S. for summer 2026, according to Zillow, based on the annual rent growth, vacancy rate forecast and the Zillow Observed Rent Index (ZORI):
Providence, Rhode Island
- Annual rent growth: 5%
- Vacancy rate forecast: 5.1%
- ZORI: $2,154
New York, New York
- Annual rent growth: 4.5%
- Vacancy rate forecast: 4.3%
- ZORI: $3,406
San Francisco, California
- Annual rent growth: 5.4%
- Vacancy rate forecast: 4.3%
- ZORI: $3,206
ONE TYPE OF PROPERTY IS QUIETLY SAVING AMERICANS THOUSANDS OF DOLLARS
Hartford, Connecticut
- Annual rent growth: 3.9%
- Vacancy rate forecast: 4.3%
- ZORI: $1,940
Los Angeles, California
- Annual rent growth: 2.4%
- Vacancy rate forecast: 4.5%
- ZORI: $2,892
Chicago, Illinois
- Annual rent growth: 5.7%
- Vacancy rate forecast: 5.3%
- ZORI: $2,219
Boston, Massachusetts
- Annual rent growth: 2.5%
- Vacancy rate forecast: 6.3%
- ZORI: $3,184
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Milwaukee, Wisconsin
- Annual rent growth: 4.1%
- Vacancy rate forecast: 3.8%
- ZORI: $1,540
Virginia Beach, Virginia
- Annual rent growth: 4.8%
- Vacancy rate forecast: 4.1%
- ZORI: $1,843
San Jose, California
- Annual rent growth: 4.1%
- Vacancy rate forecast: 4.9%
- ZORI: $3,534
