GITNUXREPORT 2026

Apartment Statistics

The blog post reports that rental prices grew unevenly across major U.S. cities in 2023.

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

Our Commitment to Accuracy

Rigorous fact-checking · Reputable sources · Regular updatesLearn more

Statistic 1

68% of apartments built post-2000 had average unit size of 950 sq ft in 2023.

Statistic 2

42% of US apartments featured in-unit laundry in 2023 surveys.

Statistic 3

Average apartment building height increased to 5.2 stories in new 2023 constructions.

Statistic 4

55% of multifamily buildings had smart home tech by 2023.

Statistic 5

Elevator-equipped buildings rose to 72% in urban areas 2023.

Statistic 6

Average balcony size in luxury apartments 65 sq ft in 2023.

Statistic 7

31% of apartments included fitness centers as standard amenity 2023.

Statistic 8

Energy-efficient appliances in 78% of new apartments 2023.

Statistic 9

Parking spaces per unit averaged 1.4 in suburban apartments 2023.

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Walk-up buildings declined to 18% of total stock 2023.

Statistic 11

Rooftop amenities in 25% of high-rise apartments 2023.

Statistic 12

Average kitchen island size 4 ft in modern units 2023.

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Controlled access entry in 89% of complexes 2023.

Statistic 14

Pool-equipped properties 46% nationally 2023.

Statistic 15

Quartz countertops in 67% of renovated apartments 2023.

Statistic 16

Dog parks on-site in 22% of pet-friendly buildings 2023.

Statistic 17

Average ceiling height 9.2 ft in new builds 2023.

Statistic 18

Bike storage in 58% of urban apartments 2023.

Statistic 19

Package lockers installed in 75% of properties 2023.

Statistic 20

Open floor plans in 82% of one-bedrooms 2023.

Statistic 21

Solar panels on 12% of apartment roofs 2023.

Statistic 22

Co-working spaces in 19% of large complexes 2023.

Statistic 23

EV charging stations at 35% of properties 2023.

Statistic 24

Hardwood-style flooring in 71% of units 2023.

Statistic 25

In 2023, the national average rent for a one-bedroom apartment in the United States reached $1,499 per month, marking a 3.2% increase from 2022.

Statistic 26

The median rent for two-bedroom apartments in New York City as of Q4 2023 was $4,200, up 8.5% year-over-year.

Statistic 27

In Los Angeles, average studio apartment rent hit $1,950 in mid-2023, reflecting a 4.1% rise due to high demand.

Statistic 28

Chicago's average one-bedroom rent stood at $1,850 in 2023, with a 2.8% annual growth amid stable inventory.

Statistic 29

San Francisco saw one-bedroom apartments average $2,800 monthly in 2023, down 1.2% from peak due to remote work trends.

Statistic 30

Average rent for a three-bedroom apartment in Miami was $3,100 in Q3 2023, surging 12% from previous year.

Statistic 31

Houston's median two-bedroom rent reached $1,450 in 2023, with modest 1.5% growth.

Statistic 32

In Atlanta, one-bedroom apartments averaged $1,650 monthly in late 2023, up 6.3% YoY.

Statistic 33

Phoenix studio rents averaged $1,400 in 2023, increasing 5.7% driven by population influx.

Statistic 34

Denver's average rent for two-bedrooms was $1,950 in 2023, with 3.9% growth.

Statistic 35

Seattle one-bedroom rents hit $2,100 in Q4 2023, up 2.4% annually.

Statistic 36

Boston's median three-bedroom rent was $3,800 in 2023, rising 7.2%.

Statistic 37

Dallas average studio rent stood at $1,300 in 2023, with 4.6% increase.

Statistic 38

Philadelphia two-bedroom rents averaged $1,700 monthly in 2023, up 3.1%.

Statistic 39

San Diego one-bedroom average was $2,450 in 2023, growing 5.2% YoY.

Statistic 40

Washington's DC metro area saw two-bedroom rents at $2,300 in 2023, +4.8%.

Statistic 41

Orlando three-bedroom average rent reached $2,100 in Q3 2023, up 9.1%.

Statistic 42

Portland OR studio rents averaged $1,600 in 2023, with 2.9% growth.

Statistic 43

Nashville one-bedroom rents hit $1,750 in 2023, surging 7.5%.

Statistic 44

Las Vegas two-bedroom average was $1,550 monthly in 2023, +5.3%.

Statistic 45

Detroit's median rent for studios was $950 in 2023, up 1.8%.

Statistic 46

Minneapolis three-bedrooms averaged $1,900 in 2023, growing 3.7%.

Statistic 47

Charlotte NC one-bedrooms at $1,550 in 2023, +6.4% YoY.

Statistic 48

Austin TX two-bedrooms averaged $1,850, up 4.2% in 2023.

Statistic 49

Sacramento studios at $1,750 monthly average in 2023, +3.5%.

Statistic 50

Cleveland one-bedrooms averaged $1,100 in 2023, modest 2.1% rise.

Statistic 51

Indianapolis two-bedrooms at $1,250 average, +4.9% in 2023.

Statistic 52

Kansas City three-bedrooms averaged $1,500, up 3.3% YoY 2023.

Statistic 53

Columbus OH studios at $1,050 monthly, +5.6% in 2023.

Statistic 54

San Antonio one-bedrooms averaged $1,300 in 2023, growing 6.7%.

Statistic 55

US multifamily housing starts totaled 452,000 units in 2023, a 10% increase from 2022.

Statistic 56

New apartment completions reached 390,000 units nationwide in 2023.

Statistic 57

Inventory of apartments under construction hit 800,000 units in Q4 2023.

Statistic 58

Demand for apartments outpaced supply by 150,000 units in top 50 metros 2023.

Statistic 59

Absorption rate for new apartments averaged 85% within first year in 2023.

Statistic 60

NYC added 15,000 new apartment units in 2023, boosting supply 2%.

Statistic 61

LA metro saw 25,000 new units completed, demand absorbed 90%.

Statistic 62

Chicago multifamily starts declined 5% to 12,000 units in 2023.

Statistic 63

SF Bay Area under-construction apartments totaled 40,000 units end-2023.

Statistic 64

Miami added 18,000 units, with demand exceeding by 10%.

Statistic 65

Houston completed 22,000 apartments in 2023, absorption 92%.

Statistic 66

Atlanta supply increased 15% with 20,000 new units.

Statistic 67

Phoenix apartment completions hit 16,000 units 2023.

Statistic 68

Denver added 14,000 units, demand strong at 88% absorption.

Statistic 69

Seattle pipeline had 25,000 units under construction Q4 2023.

Statistic 70

Boston completed 10,000 apartments, tight supply persisted.

Statistic 71

Dallas multifamily starts rose 12% to 18,000 units 2023.

Statistic 72

Philly added 12,000 units, absorption rate 82%.

Statistic 73

San Diego completions totaled 11,000 units in 2023.

Statistic 74

DC area supply grew with 13,000 new apartments.

Statistic 75

Orlando under construction: 15,000 units end 2023.

Statistic 76

Portland completed 9,000 apartments, demand soft.

Statistic 77

Nashville added 17,000 units, high absorption 95%.

Statistic 78

Las Vegas pipeline 20,000 units under construction 2023.

Statistic 79

Detroit supply stagnant at 5,000 completions.

Statistic 80

Minneapolis added 8,000 units 2023.

Statistic 81

Charlotte completions 14,000, demand robust.

Statistic 82

Austin under construction peaked at 30,000 units.

Statistic 83

Sacramento added 10,000 apartments 2023.

Statistic 84

Cleveland supply low with 4,000 new units.

Statistic 85

Indianapolis pipeline 12,000 units Q4 2023.

Statistic 86

35% of US renters aged 25-34 lived in apartments in 2022 Census data.

Statistic 87

Households earning $50k-$75k comprised 28% of apartment renters 2023.

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52% of apartment tenants were single-person households in 2023.

Statistic 89

Millennial renters (born 1981-1996) made up 42% of market in 2023.

Statistic 90

24% of renters in apartments were families with children under 18, 2022.

Statistic 91

Black or African American renters occupied 19% of apartments nationally 2023.

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15% of apartment renters were seniors over 65 in 2023.

Statistic 93

Gen Z (18-24) represented 18% of new apartment leases 2023.

Statistic 94

Hispanic/Latino renters comprised 22% of apartment dwellers 2023.

Statistic 95

62% of renters under 35 preferred urban apartments 2023 survey.

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Dual-income households 55% of two-bedroom apartment tenants.

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Women-headed households 38% of apartment renters 2022.

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Remote workers increased to 29% of apartment tenants 2023.

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Students comprised 12% of urban apartment occupancy 2023.

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Low-income (<$35k) renters 31% of total apartments 2023.

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Married couples without kids 22% of renters 2023.

Statistic 102

Asian renters 7% of apartment market nationally 2023.

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Pet-owning households 48% of apartment tenants 2023.

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First-time renters under 25 at 25% of new leases 2023.

Statistic 105

High-income (>$100k) renters grew to 19% in 2023.

Statistic 106

Single parents 11% of apartment household heads 2023.

Statistic 107

Veterans renting apartments 8% of total military 2023.

Statistic 108

LGBTQ+ identified renters 9% in urban apartments 2023 survey.

Statistic 109

Immigrants recent (past 5 yrs) 14% of renters 2023.

Statistic 110

Empty nesters 10% of mid-size apartment tenants.

Statistic 111

National multifamily vacancy rate dropped to 6.2% in Q4 2023 from 6.8% prior year.

Statistic 112

New York City apartment vacancy rate was 2.1% in late 2023, among the tightest markets.

Statistic 113

Los Angeles metro vacancy rate stood at 5.4% in Q3 2023.

Statistic 114

Chicago's apartment vacancy averaged 6.7% throughout 2023.

Statistic 115

San Francisco vacancy rate rose to 7.9% in 2023 due to supply increases.

Statistic 116

Miami's vacancy rate fell to 4.2% in Q4 2023 amid tourism boom.

Statistic 117

Houston apartment vacancy was stable at 7.1% average in 2023.

Statistic 118

Atlanta vacancy rate at 6.5% in mid-2023, slightly up from 2022.

Statistic 119

Phoenix saw vacancy drop to 5.8% in 2023 with migration growth.

Statistic 120

Denver's multifamily vacancy averaged 5.2% in Q4 2023.

Statistic 121

Seattle vacancy rate was 4.9% in late 2023, tight market.

Statistic 122

Boston apartments had 3.8% vacancy rate average in 2023.

Statistic 123

Dallas vacancy stood at 7.4% in Q3 2023.

Statistic 124

Philadelphia's rate was 6.1% average for 2023.

Statistic 125

San Diego vacancy at 4.6% in 2023, low due to desirability.

Statistic 126

Washington DC vacancy rate 5.3% in Q4 2023.

Statistic 127

Orlando apartments averaged 6.9% vacancy in 2023.

Statistic 128

Portland OR vacancy rose to 7.2% mid-2023.

Statistic 129

Nashville vacancy at 4.3% in late 2023, very competitive.

Statistic 130

Las Vegas rate was 6.4% average 2023.

Statistic 131

Detroit's high vacancy at 9.2% persisted in 2023.

Statistic 132

Minneapolis vacancy averaged 5.7% in Q3 2023.

Statistic 133

Charlotte NC at 6.3% vacancy rate 2023.

Statistic 134

Austin TX vacancy dropped to 5.1% in 2023.

Statistic 135

Sacramento vacancy rose to 7.6% average 2023.

Statistic 136

Cleveland apartments had 8.1% vacancy in 2023.

Statistic 137

Indianapolis vacancy at 6.8% Q4 2023.

Statistic 138

Kansas City rate averaged 7.0% in 2023.

Statistic 139

Columbus OH vacancy 6.6% mid-2023.

Statistic 140

San Antonio vacancy fell to 5.9% in 2023.

1/140

Sources

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Hold onto your wallets because 2023 saw rent prices continue their relentless climb across the country, pushing a one-bedroom apartment to a national average of $1,499 a month.

Key Takeaways

In 2023, the national average rent for a one-bedroom apartment in the United States reached $1,499 per month, marking a 3.2% increase from 2022.
The median rent for two-bedroom apartments in New York City as of Q4 2023 was $4,200, up 8.5% year-over-year.
In Los Angeles, average studio apartment rent hit $1,950 in mid-2023, reflecting a 4.1% rise due to high demand.
National multifamily vacancy rate dropped to 6.2% in Q4 2023 from 6.8% prior year.
New York City apartment vacancy rate was 2.1% in late 2023, among the tightest markets.
Los Angeles metro vacancy rate stood at 5.4% in Q3 2023.
US multifamily housing starts totaled 452,000 units in 2023, a 10% increase from 2022.
New apartment completions reached 390,000 units nationwide in 2023.
Inventory of apartments under construction hit 800,000 units in Q4 2023.
35% of US renters aged 25-34 lived in apartments in 2022 Census data.
Households earning $50k-$75k comprised 28% of apartment renters 2023.
52% of apartment tenants were single-person households in 2023.
68% of apartments built post-2000 had average unit size of 950 sq ft in 2023.
42% of US apartments featured in-unit laundry in 2023 surveys.
Average apartment building height increased to 5.2 stories in new 2023 constructions.

The blog post reports that rental prices grew unevenly across major U.S. cities in 2023.

Building Characteristics

68% of apartments built post-2000 had average unit size of 950 sq ft in 2023.
42% of US apartments featured in-unit laundry in 2023 surveys.
Average apartment building height increased to 5.2 stories in new 2023 constructions.
55% of multifamily buildings had smart home tech by 2023.
Elevator-equipped buildings rose to 72% in urban areas 2023.
Average balcony size in luxury apartments 65 sq ft in 2023.
31% of apartments included fitness centers as standard amenity 2023.
Energy-efficient appliances in 78% of new apartments 2023.
Parking spaces per unit averaged 1.4 in suburban apartments 2023.
Walk-up buildings declined to 18% of total stock 2023.
Rooftop amenities in 25% of high-rise apartments 2023.
Average kitchen island size 4 ft in modern units 2023.
Controlled access entry in 89% of complexes 2023.
Pool-equipped properties 46% nationally 2023.
Quartz countertops in 67% of renovated apartments 2023.
Dog parks on-site in 22% of pet-friendly buildings 2023.
Average ceiling height 9.2 ft in new builds 2023.
Bike storage in 58% of urban apartments 2023.
Package lockers installed in 75% of properties 2023.
Open floor plans in 82% of one-bedrooms 2023.
Solar panels on 12% of apartment roofs 2023.
Co-working spaces in 19% of large complexes 2023.
EV charging stations at 35% of properties 2023.
Hardwood-style flooring in 71% of units 2023.

Building Characteristics Interpretation

While apartments are shrinking to shoebox sizes, we're apparently living in lavishly secure, quartz-countertopped, smart-tech fortresses with excellent laundry and storage for both our cars and bikes.

Rental Prices

In 2023, the national average rent for a one-bedroom apartment in the United States reached $1,499 per month, marking a 3.2% increase from 2022.
The median rent for two-bedroom apartments in New York City as of Q4 2023 was $4,200, up 8.5% year-over-year.
In Los Angeles, average studio apartment rent hit $1,950 in mid-2023, reflecting a 4.1% rise due to high demand.
Chicago's average one-bedroom rent stood at $1,850 in 2023, with a 2.8% annual growth amid stable inventory.
San Francisco saw one-bedroom apartments average $2,800 monthly in 2023, down 1.2% from peak due to remote work trends.
Average rent for a three-bedroom apartment in Miami was $3,100 in Q3 2023, surging 12% from previous year.
Houston's median two-bedroom rent reached $1,450 in 2023, with modest 1.5% growth.
In Atlanta, one-bedroom apartments averaged $1,650 monthly in late 2023, up 6.3% YoY.
Phoenix studio rents averaged $1,400 in 2023, increasing 5.7% driven by population influx.
Denver's average rent for two-bedrooms was $1,950 in 2023, with 3.9% growth.
Seattle one-bedroom rents hit $2,100 in Q4 2023, up 2.4% annually.
Boston's median three-bedroom rent was $3,800 in 2023, rising 7.2%.
Dallas average studio rent stood at $1,300 in 2023, with 4.6% increase.
Philadelphia two-bedroom rents averaged $1,700 monthly in 2023, up 3.1%.
San Diego one-bedroom average was $2,450 in 2023, growing 5.2% YoY.
Washington's DC metro area saw two-bedroom rents at $2,300 in 2023, +4.8%.
Orlando three-bedroom average rent reached $2,100 in Q3 2023, up 9.1%.
Portland OR studio rents averaged $1,600 in 2023, with 2.9% growth.
Nashville one-bedroom rents hit $1,750 in 2023, surging 7.5%.
Las Vegas two-bedroom average was $1,550 monthly in 2023, +5.3%.
Detroit's median rent for studios was $950 in 2023, up 1.8%.
Minneapolis three-bedrooms averaged $1,900 in 2023, growing 3.7%.
Charlotte NC one-bedrooms at $1,550 in 2023, +6.4% YoY.
Austin TX two-bedrooms averaged $1,850, up 4.2% in 2023.
Sacramento studios at $1,750 monthly average in 2023, +3.5%.
Cleveland one-bedrooms averaged $1,100 in 2023, modest 2.1% rise.
Indianapolis two-bedrooms at $1,250 average, +4.9% in 2023.
Kansas City three-bedrooms averaged $1,500, up 3.3% YoY 2023.
Columbus OH studios at $1,050 monthly, +5.6% in 2023.
San Antonio one-bedrooms averaged $1,300 in 2023, growing 6.7%.

Rental Prices Interpretation

The rent, much like an intrusive roommate, is going up almost everywhere, proving that your paycheck's race against your landlord is one you're clearly losing.

Supply and Demand

US multifamily housing starts totaled 452,000 units in 2023, a 10% increase from 2022.
New apartment completions reached 390,000 units nationwide in 2023.
Inventory of apartments under construction hit 800,000 units in Q4 2023.
Demand for apartments outpaced supply by 150,000 units in top 50 metros 2023.
Absorption rate for new apartments averaged 85% within first year in 2023.
NYC added 15,000 new apartment units in 2023, boosting supply 2%.
LA metro saw 25,000 new units completed, demand absorbed 90%.
Chicago multifamily starts declined 5% to 12,000 units in 2023.
SF Bay Area under-construction apartments totaled 40,000 units end-2023.
Miami added 18,000 units, with demand exceeding by 10%.
Houston completed 22,000 apartments in 2023, absorption 92%.
Atlanta supply increased 15% with 20,000 new units.
Phoenix apartment completions hit 16,000 units 2023.
Denver added 14,000 units, demand strong at 88% absorption.
Seattle pipeline had 25,000 units under construction Q4 2023.
Boston completed 10,000 apartments, tight supply persisted.
Dallas multifamily starts rose 12% to 18,000 units 2023.
Philly added 12,000 units, absorption rate 82%.
San Diego completions totaled 11,000 units in 2023.
DC area supply grew with 13,000 new apartments.
Orlando under construction: 15,000 units end 2023.
Portland completed 9,000 apartments, demand soft.
Nashville added 17,000 units, high absorption 95%.
Las Vegas pipeline 20,000 units under construction 2023.
Detroit supply stagnant at 5,000 completions.
Minneapolis added 8,000 units 2023.
Charlotte completions 14,000, demand robust.
Austin under construction peaked at 30,000 units.
Sacramento added 10,000 apartments 2023.
Cleveland supply low with 4,000 new units.
Indianapolis pipeline 12,000 units Q4 2023.

Supply and Demand Interpretation

The construction industry is furiously trying to outpace our collective need for apartments, and frankly, it's still not winning the race, as demand continues to stubbornly devour new supply.

Tenant Demographics

35% of US renters aged 25-34 lived in apartments in 2022 Census data.
Households earning $50k-$75k comprised 28% of apartment renters 2023.
52% of apartment tenants were single-person households in 2023.
Millennial renters (born 1981-1996) made up 42% of market in 2023.
24% of renters in apartments were families with children under 18, 2022.
Black or African American renters occupied 19% of apartments nationally 2023.
15% of apartment renters were seniors over 65 in 2023.
Gen Z (18-24) represented 18% of new apartment leases 2023.
Hispanic/Latino renters comprised 22% of apartment dwellers 2023.
62% of renters under 35 preferred urban apartments 2023 survey.
Dual-income households 55% of two-bedroom apartment tenants.
Women-headed households 38% of apartment renters 2022.
Remote workers increased to 29% of apartment tenants 2023.
Students comprised 12% of urban apartment occupancy 2023.
Low-income (<$35k) renters 31% of total apartments 2023.
Married couples without kids 22% of renters 2023.
Asian renters 7% of apartment market nationally 2023.
Pet-owning households 48% of apartment tenants 2023.
First-time renters under 25 at 25% of new leases 2023.
High-income (>$100k) renters grew to 19% in 2023.
Single parents 11% of apartment household heads 2023.
Veterans renting apartments 8% of total military 2023.
LGBTQ+ identified renters 9% in urban apartments 2023 survey.
Immigrants recent (past 5 yrs) 14% of renters 2023.
Empty nesters 10% of mid-size apartment tenants.

Tenant Demographics Interpretation

The modern American apartment is a demographic chameleon, simultaneously serving as a starter pad for Gen Z, a pragmatic perch for high-earning millennials, a family launchpad for young couples, and a surprising haven for nearly a third of low-income renters—all while being, statistically speaking, just as likely to house a pet as a child.

Vacancy Rates

National multifamily vacancy rate dropped to 6.2% in Q4 2023 from 6.8% prior year.
New York City apartment vacancy rate was 2.1% in late 2023, among the tightest markets.
Los Angeles metro vacancy rate stood at 5.4% in Q3 2023.
Chicago's apartment vacancy averaged 6.7% throughout 2023.
San Francisco vacancy rate rose to 7.9% in 2023 due to supply increases.
Miami's vacancy rate fell to 4.2% in Q4 2023 amid tourism boom.
Houston apartment vacancy was stable at 7.1% average in 2023.
Atlanta vacancy rate at 6.5% in mid-2023, slightly up from 2022.
Phoenix saw vacancy drop to 5.8% in 2023 with migration growth.
Denver's multifamily vacancy averaged 5.2% in Q4 2023.
Seattle vacancy rate was 4.9% in late 2023, tight market.
Boston apartments had 3.8% vacancy rate average in 2023.
Dallas vacancy stood at 7.4% in Q3 2023.
Philadelphia's rate was 6.1% average for 2023.
San Diego vacancy at 4.6% in 2023, low due to desirability.
Washington DC vacancy rate 5.3% in Q4 2023.
Orlando apartments averaged 6.9% vacancy in 2023.
Portland OR vacancy rose to 7.2% mid-2023.
Nashville vacancy at 4.3% in late 2023, very competitive.
Las Vegas rate was 6.4% average 2023.
Detroit's high vacancy at 9.2% persisted in 2023.
Minneapolis vacancy averaged 5.7% in Q3 2023.
Charlotte NC at 6.3% vacancy rate 2023.
Austin TX vacancy dropped to 5.1% in 2023.
Sacramento vacancy rose to 7.6% average 2023.
Cleveland apartments had 8.1% vacancy in 2023.
Indianapolis vacancy at 6.8% Q4 2023.
Kansas City rate averaged 7.0% in 2023.
Columbus OH vacancy 6.6% mid-2023.
San Antonio vacancy fell to 5.9% in 2023.

Vacancy Rates Interpretation

The national apartment market may be loosening its belt, but a few cities are still squeezing tenants for every cent—Bostonians and New Yorkers, we see you clutching your leases like a winning lottery ticket.