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Feel like the rent’s gotten too damn high? Then you might just live in Austin, Texas.
Residents in the Lone Star State’s capital saw the biggest increase in the total amount they paid in rent between 2010 and 2019, according to a new report from real-estate company Zillow ZG, -0.76% that tallied the total amounts paid by all renters in cities across the U.S. Over the past decade, the amount Austinians pay in rent has risen a whopping 92.6%, a function both of the city’s growing population and the rising cost of rent.
Raleigh, N.C., was next on Zillow’s Z, -0.47% ranking — the total amount spent on rent has increased there by 91% since 2010, followed by Denver, where the total amount of rent paid has jumped 88.2%. Comparatively, nationwide the amount people pay in rent has only increased 46.5%.
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Here’s how much rents have increased across the 50 largest cities nationwide over the past decade:
| Metropolitan area | 10-year change in total rent paid | 1-year change in total rent paid | Total rent paid 2010-2019 |
| Austin, Texas | 92.6% | 5.1% | $36,700,000,000 |
| Raleigh, N.C. | 91.0% | 3.4% | $16,500,000,000 |
| Denver, Colo. | 88.2% | 3.4% | $50,700,000,000 |
| Atlanta, Ga. | 84.5% | 5.4% | $76,200,000,000 |
| Orlando, Fla. | 83.9% | 4.3% | $35,700,000,000 |
| Dallas-Fort Worth, Texas | 83.7% | 3.2% | $104,200,000,000 |
| Nashville, Tenn. | 83.4% | 2.2% | $23,000,000,000 |
| Charlotte, N.C. | 80.3% | 5.5% | $28,100,000,000 |
| Seattle, Wash. | 71.2% | 4.1% | $80,000,000,000 |
| Kansas City, Mo. | 69.1% | 3.2% | $24,300,000,000 |
| Houston, Texas | 65.8% | 1.7% | $90,400,000,000 |
| San Jose, Calif. | 65.8% | 0.4% | $56,300,000,000 |
| Minneapolis-St. Paul, Minn. | 65.6% | 3.2% | $44,700,000,000 |
| Tampa, Fla. | 61.9% | 4.0% | $43,900,000,000 |
| Phoenix, Ariz. | 60.4% | 7.5% | $63,600,000,000 |
| San Francisco, Calif. | 56.4% | 2.3% | $141,100,000,000 |
| Washington, D.C. | 55.6% | 3.7% | $133,600,000,000 |
| Jacksonville, Fla. | 55.6% | 4.9% | $18,600,000,000 |
| Miami-Fort Lauderdale, Fla. | 54.5% | 2.1% | $106,200,000,000 |
| San Diego, Calif. | 53.6% | 4.9% | $86,200,000,000 |
| Portland, Ore. | 50.8% | 1.7% | $41,100,000,000 |
| Columbus, Ohio | 50.4% | 1.1% | $24,700,000,000 |
| Riverside, Calif. | 49.7% | 5.5% | $63,100,000,000 |
| Salt Lake City, Utah | 49.1% | 1.0% | $13,100,000,000 |
| Boston, Mass. | 48.7% | 1.4% | $98,100,000,000 |
| San Antonio, Texas | 47.8% | -0.4% | $26,800,000,000 |
| Philadelphia, Pa. | 45.8% | 2.9% | $80,800,000,000 |
| Indianapolis, Ind. | 45.8% | 2.6% | $21,700,000,000 |
| Sacramento, Calif. | 45.0% | 4.2% | $40,500,000,000 |
| Cincinnati, Ohio | 43.6% | 2.4% | $21,700,000,000 |
| Richmond, Va. | 40.7% | 0.1% | $16,000,000,000 |
| Buffalo, N.Y. | 38.9% | 3.3% | $12,100,000,000 |
| Cleveland, Ohio | 38.8% | 3.8% | $23,100,000,000 |
| Hartford, Conn. | 38.8% | -1.5% | $16,100,000,000 |
| Los Angeles-Long Beach-Anaheim, Calif. | 38.7% | 1.9% | $345,900,000,000 |
| Louisville-Jefferson County, Ky. | 38.4% | -0.6% | $11,900,000,000 |
| Las Vegas, Nev. | 38.3% | 5.6% | $38,000,000,000 |
| Oklahoma City, Okla. | 38.3% | -1.1% | $14,100,000,000 |
| Detroit, Mich. | 38.2% | 0.5% | $44,700,000,000 |
| St. Louis, Mo. | 37.8% | 4.1% | $27,200,000,000 |
| Baltimore, Md. | 36.6% | -0.1% | $42,400,000,000 |
| Chicago, Ill. | 35.8% | 2.9% | $137,700,000,000 |
| Birmingham, Ala. | 35.8% | 2.3% | $9,500,000,000 |
| Milwaukee, Wis. | 35.6% | 4.0% | $22,300,000,000 |
| Pittsburgh, Pa. | 35.3% | 1.3% | $22,300,000,000 |
| New York, N.Y. | 35.0% | 3.0% | $506,900,000,000 |
| Providence, R.I. | 31.9% | 2.0% | $22,600,000,000 |
| Memphis, Tenn. | 29.7% | -2.2% | $14,700,000,000 |
| New Orleans, La. | 24.2% | -1.5% | $16,600,000,000 |
| Virginia Beach, Va. | 22.5% | 0.4% | $26,800,000,000 |
For residents of cities like Austin and Atlanta, which have seen bumper rental price growth throughout the decade, there’s little relief in sight. These cities also ranked among those that have seen the largest uptick in rent over the last year alone. Phoenix, Ariz., topped that list, with 7.5% rental appreciation over the last year, stemming from the fact that it’s one of the fastest-growing cities in the country.
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In terms of the total amount paid in rent, New Yorkers came out on top, having paid nearly $507 billion over the last 10 years. Los Angeles was next on the list ($345.9 billion in total rent paid), followed by San Francisco ($141.1 billion). Meanwhile, residents of Birmingham, Ala., paid the least in rent, at just $9.5 billion.
Across all of the U.S., renters paid a total of $4.5 trillion between 2010 and 2019. The beginning of the next decade however could bring rent relief for millions of Americans nationwide.
“While the total amount of rent paid has increased each year this decade, that trend is by no means immutable,” Zillow Group economist Joshua Clark said in the report. “With rental appreciation expected to decrease in the coming year and a homeownership rate that has been ticking up over the past few years, a small or even negative change in total rental spending could be in the cards in the early 2020s.”
Zillow projects that rent growth will slow by the end of 2020 to be more in line with the overall pace of economic inflation.
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