
Renters across the U.S. faced an extremely competitive market this year, with high occupancy rates and lease renewals leaving renters with limited options.
RentCafe’s year-end report for 2024 shows a market with a short window for renters to snap up units and several people often vying for the same place. The apartment search site—which is owned by Yardi, a company known for its AI rent-pricing tool—ranked 139 of the largest markets in the country based on the average number of days apartments stayed vacant; the percentage of rentals that were occupied; the number of prospective renters competing for an apartment; the percentage of renters who renewed their leases; and the share of new apartments completed this year.
Here are the 10 most competitive U.S. rental markets in 2024.