August Rental Activity Report: Minneapolis Is Most Sought-After City Again, West Dominates Rankings

• Minneapolis takes back the crown after a brief stint in second place last month.
• Renters are focusing their apartment searches on the West, which counts 12 cities in the top 30 most active rental markets.
• Vancouver, WA, sees a meteoric rise in popularity along with Montgomery, AL; Fayetteville, NC; and Salem, OR.

Despite the peak moving season winding down, prospective renters are still in active pursuit of the perfect apartment. But which cities are seeing the most rental activity and capturing their interest?

In August, Minneapolis reclaimed the top spot, surpassing Overland Park, KS, as the most in-demand city among those searching for apartments on RentCafe.com. Interest in Minneapolis is particularly strong, as evidenced by high engagement rates for listings in this city. Atlanta also surges, landing on second place, while Washington, D.C. claims the bronze medal after climbing one spot since last month.

Not to be outdone, Detroit holds strong in fourth place, maintaining its high demand, while Cleveland, OH, follows closely, solidifying the Midwest’s dominance in the top five most sought-after cities.

These locations are attracting considerable attention on RentCafe.com with renters frequently viewing listings, marking properties as favorites and refining their searches despite some tight competition.

The August data also highlights subtle changes in renter preferences across different regions. For instance, the West continues to attract the most interest from apartment-hunters, claiming 12 entries in the top 30 cities for rental activity, followed by the South with nine entries. Meanwhile, the Midwest counts eight spots in our ranking this month as well, while the Northeast is represented by only one city on our list.

For a deeper understanding of regional trends during this period, check out our mid-year and July rental activity reports.

Minneapolis takes back top spot after last month’s drop in popularity

1. Minneapolis

Minneapolis has reclaimed the top spot in August, driven by an 18% increase in page views compared to the previous year. Namely, renters from Chicago and Dallas, along with those from nearby St. Paul, are showing the most interest in this Minnesota city.

However, with a 17% decrease in available listings, renters might find it challenging to secure an apartment in this rising city, thereby reaffirming its status as the reigning rental market.

2. Atlanta

After its fall last month, Atlanta climbed back up in the rankings in order to secure the runner-up position. This surge in popularity can be attributed to its drop in available listings, proving that the city remains a desirable location for many potential renters.

Interestingly, most apartment hunters showing an interest in this Georgia gem come from New York, Orlando and Chicago.

3. Washington, D.C.

Washington, D.C. takes third place this month, climbing one spot. Interest in the nation’s capital remains strong, as evidenced by a 10% year-over-year decrease in available listings, particularly from renters in areas like Baltimore and Ashburn, VA.

This surge in demand — likely fueled by the city’s competitive rental market — has helped push D.C. into the top 3 this month.

4. Detroit

Detroit slips to fourth place, but continues to show impressive growth in renter appeal. Specifically, page views for listings in the city surged by 43% compared to last August, indicating a growing interest in the Motor City’s rental market.

In particular, apartment-seekers have shown a strong preference for Detroit properties, with a 30% increase in favorited listings and a significant 37% drop in available apartments. This highlights the city’s growing appeal, as more people choose to make Detroit their home.

5. Cleveland

Cleveland ranks fifth this month, maintaining steady interest among renters as demonstrated by a 14% increase in page views. Here, the city’s rental listings have seen a slight uptick in online engagement rates with a 2% rise in favorited listings, particularly from renters in Ashburn, VA, as well as Chicago.

Moreover, an 11% decrease in listings suggests a gradually tightening market, with fewer apartments available compared to last year.

6. Cincinnati

Cincinnati climbs to the sixth spot, up two positions since last month. The city continues to appeal to renters, as shown by a 4% drop in available apartment listings.

Despite an overall slight decrease in engagement, interest in apartments in Cincinnati remains high, suggesting that many renters are still actively exploring their options before committing to a lease in the city.

7. Chicago

Landing in the seventh spot is Chicago, which jumped five spots thanks to a 12% decrease in available listings compared to this time last year. This demonstrates that interest in the city remains high. with apartment-seekers spending more time searching for their ideal home in the Windy City.

Renters most drawn to apartments in Chicago hail from New York and Los Angeles, signaling the market’s appeal as a Midwestern alternative to the hustle and bustle of coastal cities.

8. Philadelphia

Philadelphia lands in eighth place, climbing seven positions from last month. More precisely, page views for rental listings in the city have risen by 26%, reflecting a growing interest in what the city has to offer.

At the same time, Philadelphia’s rental market has tightened slightly, with a 2% decrease in available listings, reinforcing its status as a top choice for apartment-hunters.

9. Montgomery, AL

Montgomery, AL, experiences a meteoric rise, soaring to ninth place after a 90-spot leap from last month. Clearly, the city’s 43% year-over-year increase in favorited listings suggests that renters looking for apartments in Montgomery have a strong intent to move here.

Adding to Montgomery’s appeal is the 28% decrease in available listings compared to one year ago, as renters — primarily from Chicago and nearby Birmingham — are drawn to the city’s low cost of living and Southern charm.

10. Winston-Salem, NC

Winston-Salem, NC, rounds out the top 10, climbing one spot thanks to a 41% decrease in apartment availability compared to last year. In this case, much of this demand comes from renters from other Southern cities like Charlotte, NC; Atlanta; and Raleigh, NC.

This proves that, despite a slight drop in overall engagement, interest in this North Carolina location remains high.

West Coast cities dominate the list of most sought-after rental markets in August

In August, Western cities continue to dominate as strong competitors in the race for the most sought-after hotspots for renters. Following closely are the South and Midwest, with nine and eight cities, respectively, in the ranking. However, among the top 10, the Midwest takes the lead with five cities, followed by the South with four. The Northeast rounds out the list with one city, Philadelphia.

In the Midwest, Minneapolis takes the top spot with Detroit following at #4 after dropping one place since last month. Other noteworthy Midwestern cities include Cleveland at #5; Cincinnati at #6; and Chicago at #7, after a five-spot climb. Just outside of the top 10, Indianapolis lands at #11, followed by Columbus, OH, at #26 and last month’s #1, Overland Park, KS, at #28.

 

In the South, Atlanta leads at #2, followed by other popular rental destinations like Washington, D.C., at #3; Montgomery, AL, at #9 after jumping an impressive 90 positions since July; and Winston-Salem, NC, at #10. Outside the top 10, Richmond, VA, rises eight spots to #12, while Louisville, KY, drops to #13, and Fayetteville, NC, climbs an impressive 81 positions to #17. Not far behind, Tulsa, OK, lands at #24, with Orlando settling lower than last month at #27.

Out West, the highest-ranking city is Long Beach, CA, at #14, followed closely at #15 by Vancouver, WA, which made the biggest leap this month, after climbing 111 spots. Other Western cities that caught renters’ attention in August include Riverside, CA, at #16; Los Angeles at #18; Sacramento, CA, at #19; and Fresno, CA, at #20 after a significant 31-spot climb.

Otherwise, Portland, OR, holds steady at #21, followed by North Las Vegas, NV, at #22 after jumping 28 positions. At the same time, Ontario, CA, drops to #23, while Salem, OR, makes a remarkable 80-position ascent to land at #25. Last, but not least, California locations Santa Ana and Oakland secure the 29th and 30th spots, respectively, hinting at renters’ preference for the Golden State.

In the Northeast, the most popular renting destination for August is Philadelphia at #8.

Meet the newcomers: West Coast laid-back lifestyle attracts in more renters this month

August sees five new cities (primarily from the West) enter our top 30 most sought-after rental destinations. Vancouver, WA, makes a remarkable debut at #15, skyrocketing 111 spots since July, while Fayetteville, NC — the sole Southern newcomer — jumps 81 positions to reach #17.

Then, back on the West Coast, Fresno, CA, secures the 20th spot, while Salem, OR, lands at #25 after an 80-position leap since last month. Finally, Santa Ana, CA, also makes its debut at #29 following a 20-spot climb.

Other cities joining or returning to the top 30 after a brief absence include Montgomery, AL; Riverside, CA; North Las Vegas, and Oakland, CA.

Methodology

RentCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the U.S.

To compile this report, the research team analyzed RentCafe.com’s rental listing data across the 150 largest cities by population in the contiguous U.S. with a relevant listing inventory sample. The regions are defined according to the U.S. Census Bureau.

The cities were ranked based on a city-level rental activity score. Full points were awarded to the most desirable city for a particular metric, while the zero-point level was set slightly below the worst city’s value. Cities that lacked sufficient information regarding specific metrics were awarded zero points.

Beginning in August 2023, the city that obtained the highest total score was awarded 100 points and all total scores of the following cities were adjusted accordingly.

To calculate each city’s score, we ranked them according to four metrics and their averages as of the most current month in 2024 versus the same month in 2023.

1. Availability Rate (Maximum score: 40 points)

The availability rate score was calculated by dividing the total vacant units at the city level for the most recent month by the total units and a year-over-year comparison of the same. The lowest rate received maximum points.

2. Page Views (Maximum score: 30 points)

The page views score was calculated as the total number of monthly page views for the most recent month at the city level divided by the total renter population in the city and a year-over-year comparison of the same. Page views are defined as a unique user interaction on a specific page in a 30-minute window.

3. Favorites (Maximum score: 15 points)

The favorites score was calculated as the total monthly rental listings added to favorites at the city level for the most current month divided by the total renter population in the city and a year-over-year comparison of the same. A favorite is defined as a rental listing saved to favorites by a website visitor.

4. Saved Searches (Maximum score: 15 points)

The saved searches score was calculated as the total number of monthly saved searches at the city level for the most current month divided by the total renter population in the city and a year-over-year comparison of the same. A saved search is defined as a filtered/personalized apartment search saved by a website visitor.

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