10 Hottest Rental Markets in Summer 2026 — 4 Are on the East Coast
The hottest rental markets right now are some of the most high-profile cities in the U.S., with a strong focus on the Northeast, Midwest and California. Even though the U.S. built more new units in 2024 than in any year in the past half-century, the cities on this list missed out on most of the new units.
Zillow compiled a list of 10 surging rental markets where rental demand exceeds the supply of rental units. These cities made the list.
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1. Providence, Rhode Island
Providence earned the top spot on the list with rent climbing by 5% year-over-year. The average rent is $2,154 per month, and you need to earn approximately $86,000 to keep up with expenses.
2. New York City
The city has been a high-demand spot for many years, and it claims the No. 2 spot on this list. The average rent is $3,406 per month, which is up by 4.5% year-over-year. Manhattan is the most in-demand borough and has reported 26 consecutive months of declining inventory. You’re looking at more than $4,000 in monthly rent in the heart of the city.
3. San Francisco
The New York of the West Coast ends up just below the original on this list. Rent is up by 5.4% year-over-year, and as a major tech hub, it’s likely to attract more people who are in search of high-paying jobs. The average rent is $3,900, but you can end up with just $2,295 in monthly rent if you want a studio apartment.
4. Hartford, Connecticut
Here, rental prices inched up by 3.9% year-over-year. Although it’s a hot market, rental prices are relatively affordable. The average rent is only $1,940 per month. It’s a little less than two hours away from Providence and approximately four hours away from New York City.
5. Los Angeles
Los Angeles regularly draws big crowds, with available listings marching upward due to new constructions. More than 30,000 rental listings are available on Zillow, but even with that supply, rent still increased by 2.4% year-over-year.
6. Chicago
The Windy City’s average rent is up by 5.7% year-over-year, and only 22.4% of property managers are offering some concessions to incoming tenants. The average rent payment stands at $2,219 per month.
7. Boston
Big-name cities continue to dominate the list, with Boston taking the 7th spot. Rent has climbed by 2.5% year-over-year, pushing the average rent to $3,184 per month. Boston only has a 6.3% vacancy rate.
8. Milwaukee
Milwaukee is the second Midwest city on the list. Although rent has increased by 4.1% year-over-year, it’s the most affordable option on this list. The average rent is only $1,540, and more than one-quarter of property managers offer concessions to new tenants.
9. Virginia Beach, Virginia
Virginia Beach takes the 9th spot on this list. This hot city won’t strain your finances as much as most of the other cities on this list, with the average rent only coming in at $1,843. That figure is up by 4.8% year-over-year, and almost 30% of property managers offer concessions to incoming tenants.
10. San Jose, California
San Jose takes the final spot. It’s the most expensive city on this list, with an average rent of $3,534 per month. San Jose exhibited 4.1% year-over-year rent growth as well, but more than 40% of property managers offer concessions. There is room for negotiating, but you will still have to deal with much higher prices than in the average city.
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