Rental activity in the U.S. continues to grow halfway through 2024. With the work-from-home boom stabilizing, more renters are eying desirable cities to relocate to.
In its mid-year rental activity report, RentCafe examined the rental activity of 30 cities to determine where renters' interests lie. Several factors were compared year-over-year from early 2023 activity to construct the list.
Top 10 Cities for Rental Activity in the First Half of 2024
RentCafe data analyzed rental activity in the last six months compared to the same period last year (early 2023) to find the most coveted cities for renters. Rankings for each city were determined based on these categories: apartment availability, page views, apartments saved as favorites, and saved personalized searches.
These are ten metropolitan areas poised to become hotspots in the coming months.
![Top 10 cities for rental activity in the first half of 2024](/sites/default/files/inline-images/Map-Top-10-Cities-for-Rental-Activity-in-the-First-Half-of-2024-1.png)
1. Minneapolis, Minn.
Minneapolis, Minn., stands as the most desirable city for renters in the first half of 2024. The amount of people searching for apartments in Minneapolis nearly doubled compared to early 2023. Because of the increased interest in the city, available apartments decreased by 21% year-over-year.
2. Overland Park, Kan.
Overland Park, Kan., is the second city in the list for renters. The city had increased saved searches for apartments (31%) and a surge in favorites listings. Overland Park also saw a 129% increase in page views on RentCafe.com compared to the first half of 2023.
3. Atlanta, Ga.
Atlanta, Ga., the third metro on the list, continues to see higher renter interest. Though Atlanta has fewer favorites listings and fewer searches than the previous year, it still remains high on the list, helping to represent the South for rental activity.
4. Cleveland, Ohio
Cleveland, Ohio, much like Columbus and Cincinnati, has seen a surge of new people moving into the city. Cleveland comes fourth in the list, aided by a 52% increase in page views and 13% growth in favorites. However, it has seen a decrease in apartment availability, dropping 26%.
5. Queens, N.Y.
Queens, N.Y., is the fifth most popular city on the list for the first half of 2024. An increase in apartment development projects contribute to the draw for renters. Website traffic for apartment searches increased 138% year-over-year and favorites listings increased 6%.
6. Washington, D.C.
Washington, D.C., is sixth on the list. As one of the top cities for renters this year, Washington, D.C., has seen an increase in traffic (13%) but a decrease in available listings (–9%) the first half of 2024. According to RentCafe, the city's 37% drop in saved apartment searches suggest that apartment seekers are keeping their options open before committing to a lease.
7. Tacoma, Wash.
Tacoma, Wash., is the seventh sought-after city for renters. Website traffic for apartments nearly doubled (89%) from last year, while available listings dropped 13% at the same time.
8. Orlando, Fla.
Orlando, Fla., is the eighth city on the list. Though the popular metro had slightly lower website traffic, saved searches, and favorites then last year, renter interest remained high. Available listings dropped by 18% as well.
9. Philadelphia, Pa.
Philadelphia, Pa., makes the ninth spot on the list for rental demand. It boasts a 76% growth in website traffic with a 16% in available listings.
10. Richmond, Va.
Richmond, Va., is the tenth most desirable city for renters in the first half of 2024. The amount of people saving and favorites listings dropped 31% and 25% respectively. However, Available listings decreased 14% and website traffic grew 19% compared the early 2023.
Related Stories
Mass Timber | May 17, 2024
Charlotte's new multifamily mid-rise will feature exposed mass timber
Construction recently kicked off for Oxbow, a multifamily community in Charlotte’s The Mill District. The $97.8 million project, consisting of 389 rental units and 14,300 sf of commercial space, sits on 4.3 acres that formerly housed four commercial buildings. The street-level retail is designed for boutiques, coffee shops, and other neighborhood services.
Affordable Housing | May 14, 2024
Brooklyn's colorful new affordable housing project includes retail, public spaces
A new affordable housing development located in the fastest growing section of Brooklyn, N.Y., where over half the population lives below the poverty line, transformed a long vacant lot into a community asset. The Van Sinderen Plaza project consists of a newly constructed pair of seven-story buildings totaling 193,665 sf, including 130 affordable units.
MFPRO+ News | May 13, 2024
Special multifamily report indicates ‘two supply scenarios’
Could we be headed towards a “period of stagflation?” That's the question Andrew Semmes, Senior Research Analyst, poses in the Matrix May 2024 Multifamily Rent Forecast update.
MFPRO+ News | May 10, 2024
HUD strengthens flood protection rules for new and rebuilt residential buildings
The U.S. Department of Housing and Urban Development (HUD) issued more stringent flood protection requirements for new and rebuilt homes that are developed with, or financed with, federal funds. The rule strengthens standards by increasing elevations and flood-proofing requirements of new properties in areas at risk of flooding.
Adaptive Reuse | May 9, 2024
Hotels now account for over one-third of adaptive reuse projects
For the first time ever, hotel to apartment conversion projects have overtaken office-to-residential conversions.
Mass Timber | May 8, 2024
Portland's Timberview VIII mass timber multifamily development will offer more than 100 affordable units
An eight-story, 72,000-sf mass timber apartment building in Portland, Ore., topped out this winter and will soon offer over 100 affordable units. The structure is the tallest affordable housing mass timber building and the first Type IV-C affordable housing building in the city.
MFPRO+ News | May 8, 2024
Multifamily rent growth approaches peak levels in April 2024
In its latest multifamily report, Yardi Matrix finds that the national average rent has increased for the second month in a row.
Senior Living Design | May 7, 2024
Living community opens for seniors seeking affordable housing
San Diego-based nonprofit affordable housing developer Community HousingWorks (CHW) celebrates the opening of Puesta del Sol Apartments, a new development with 59 apartments for adults 55 years and older.
Student Housing | May 3, 2024
Student housing construction dips in the first quarter of 2024
Investment in college dorms dipped slightly in the first quarter of 2024, but remains higher than a year ago.
MFPRO+ News | May 1, 2024
On the Domino Sugar refinery site, new Brooklyn condominiums offer views of the Manhattan skyline
In Brooklyn, New York’s Williamsburg neighborhood, the new One Domino Square is the first condominium development and the third ground-up residential building on the site of the Domino Sugar refinery. The 700,000-sf project is adjacent to Domino Square and anchors a new 11-acre public park.