The nation’s capital remained the most sought-after city for renters in January, according to RentCafe.com’s apartment search data set. The marketplace bases its ranking on listings browsed, properties favorited and apartments searched.
The South was the most popular region for apartment hunters with nearly half of the top 30 cities searched, followed by the Midwest with 11 cities, the West with four cities and the Northeast with one.
Washington, D.C., kept its spot at the top of the list, where it has been since November thanks to a 7% increase in favorited listings. This demonstrates prospective renters' continued preference for the city. RentCafe.com noted Washington’s livability, including excellent healthcare and economic opportunities, as reasons for its popularity.
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Coming in second place in January was Atlanta, RentCafe.com’s 2024 city to watch. Atlanta experienced a slight decline in online engagement overall, but renter interest for apartments there remains strong. The report said local renters continue to make quick decisions when apartment hunting, as its thriving job market and ongoing downtown revitalization efforts make it an attractive option.
St. Paul, Minnesota, overtook its twin city, Minneapolis, for the third-place spot for renters. Listings in St. Paul saw a 114% jump in favorited properties compared with last January, and saved searches surged by 103%. The city is a popular rental market thanks to a high quality of life and a resilient job market, which attracts renters from Minneapolis, Chicago and Dallas.
No. 4 on the list for January was Cincinnati, which boasts a lower than average cost of living coupled with an expanding job market. The area attracted renter interest from Columbus, Ohio; Atlanta and New York. Prospective renters favorited 27% more properties in Cincinnati than they did last January, propelling the city up 10 spots on the list since November.
Philadelphia, the City of Brotherly Love and home to this year’s Super Bowl champions, is the fifth-most popular city for renters. RentCafe.com reported a 26% surge in page views, and renters favorited listings 94% more often than last year. A slight dip of 2% in saved searches indicates that renters are ready to make their selection when looking to rent in Philadelphia.
Rounding out the top 10 on RentCafe.com’s list are Kansas City; Minneapolis; Overland Park, Kansas; Los Angeles; and Columbus, Ohio. Las Vegas nearly cracked the top ten but landed at No. 11 in the United States after jumping 69 positions in the past year. Seven other cities joined the top 30 most sought-after rental destinations for the first time, with the majority listed in the South.
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Kristen Smithberg
Kristen Smithberg is a Colorado-based freelance writer who covers commercial real estate, insurance, benefits and retirement topics for BenefitsPRO and other industry publications.
