Rental Affordability Has Improved Across Major U.S. Cities
New construction and softer demand have made renting more manageable for households nationwide.
Updated on Sept. 28, 2026 in Apartments
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The number of U.S. cities considered unaffordable for the average earner has dropped to 30, with 11 cities transitioning into affordable territory. Nationwide, solo renters now need to earn $150 less per month than they did one year ago to maintain a stable housing budget.
Why it matters
A recent surge of newly completed apartment units has helped slow rent growth and ease financial pressure on renters. This shift suggests that increased supply is successfully tempering competition in the national rental market.
Solo renters in New York City still face high barriers, requiring a $153,600 annual income to afford the typical $3,840 monthly studio rent. Across the nation, 531,000 apartments were added in 2025, down from 695,000 in 2024.
The players
The Economist
A global media organization that tracks economic trends and publishes the Carrie Bradshaw Index for studio apartment affordability.
The details
The index determines affordability by assuming renters spend no more than 30% of their gross income on housing costs. Rent growth slowed as the market balanced after recent construction booms and softer rental demand. To attract tenants in this cooling market, many landlords have begun offering incentives such as waived fees or free months of rent.
Timeline
2024 saw the addition of 695,000 new apartments in the United States.
2025 saw the addition of 531,000 new apartments in the United States.
The Economist released the latest index report in September 2026.
The Home Front
The current rental market is shifting as the post-pandemic construction boom stabilizes housing costs in many metropolitan areas. While the influx of new inventory has eased prices, current construction starts have hit their lowest quarterly total since 2011.
If you are currently looking for a new place, compare your monthly rent against the 30% rule to ensure your housing costs remain within a sustainable range. Research local rental incentives like waived fees or free months, which are becoming more common as supply increases in many markets.
The takeaway
Increased apartment supply has provided a needed buffer for renters, even as new development projects begin to slow down. Keep an eye on local rent growth trends when your lease renewal window approaches, as competition remains high in major hubs like New York City.
Further reading
For more insight into shifting rental costs, explore our Apartments section.
Source note: This article includes information reported by New York Post.
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