Memo to Members

2023 and 2024 Marked the Highest Annual Rent Growth in the Last Decade

Sep 29, 2025

2023 and 2024 Marked the Highest Annual Rent Growth in the Last Decade

Note: All values adjusted to 2024 dollars using the U.S. Bureau of Labor Statistics’ R-CPI-U-RS, available at http://bit.ly/42xHMw7. Data are unavailable for 2020 due to the impact of the COVID-19 pandemic on American Community Survey data collection. As such, annual real growth of median rent change for 2021 (*) is calculated using 2019 median rent. 

Source: NLIHC Tabulations of U.S. Census Bureau American Community Survey, 2013-2024 1-year estimates, Table B25064: Median Gross Rent (in U.S. Dollars).