10 hottest rental housing markets in the US this summer
Analysis finds rental demand far outpaces supply in regions that missed the recent construction boom
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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
Zillow's list of hottest rental housing markets was led by Providence, Rhode Island. (Jonathan Wiggs/The Boston Globe via Getty Images)
- Annual rent growth: 5%
- Vacancy rate forecast: 5.1%
- ZORI: $2,154
New York, New York
A view of the New York City skyline. (iStock)
- Annual rent growth: 4.5%
- Vacancy rate forecast: 4.3%
- ZORI: $3,406
San Francisco, California
The Golden Gate Bridge and residential areas by the Pacific Coastline in San Francisco, California. (Tayfun Coskun/Anadolu via Getty Images)
- Annual rent growth: 5.4%
- Vacancy rate forecast: 4.3%
- ZORI: $3,206
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Hartford, Connecticut
Downtown Hartford, the capital of Connecticut. (Brad Horrigan/Hartford Courant/Tribune News Service via Getty Images)
- Annual rent growth: 3.9%
- Vacancy rate forecast: 4.3%
- ZORI: $1,940
Los Angeles, California
A view of the Los Angeles skyline. (Simonkr)
- Annual rent growth: 2.4%
- Vacancy rate forecast: 4.5%
- ZORI: $2,892
Chicago, Illinois
Visitors walk around Cloud Gate, otherwise known as "The Bean," in Millennium Park in Chicago. (Armando L. Sanchez/Chicago Tribune/Tribune News Service via Getty Images)
- Annual rent growth: 5.7%
- Vacancy rate forecast: 5.3%
- ZORI: $2,219
Boston, Massachusetts
A view of the Boston skyline. (Ron Dahlquist/Design Pics Editorial/Universal Images Group via Getty Images))
- Annual rent growth: 2.5%
- Vacancy rate forecast: 6.3%
- ZORI: $3,184
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Milwaukee, Wisconsin
The skyline of Milwaukee, Wisconsin. (Al Drago/Bloomberg via Getty Images)
- Annual rent growth: 4.1%
- Vacancy rate forecast: 3.8%
- ZORI: $1,540
Virginia Beach, Virginia
Virginia Beach, Virginia, made Zillow's list of the hottest rental housing markets in the U.S. for summer 2026. (iStock)
- Annual rent growth: 4.8%
- Vacancy rate forecast: 4.1%
- ZORI: $1,843
San Jose, California
The Bank of Italy building, left, in downtown San Jose, California. (David Paul Morris/Bloomberg via Getty Images)
- Annual rent growth: 4.1%
- Vacancy rate forecast: 4.9%
- ZORI: $3,534