Using Zillow's Observed Rent Index, SmartAsset analysts compared rent prices — between May 2022 and May 2023 — in America's 100 largest cities and adjusted them seasonally.

Around one in every three housing units in the US are renter-occupied, and just under half of total renters (43 percent) say they pay more than 35 percent of their income on rent, according to recent statistics from the Census Bureau, Department of Housing and Urband Development, Pew Research Center and other real estate data.

Over the past year, there are only nine cities were average rent prices have dropped: Austin (TX), Oakland (CA), Vancouver (WA), Portland (OR), Plano (TX), San Francisco (CA), San Antonio (TX), Lawrenceville (GA) and Atlanta (GA).

Rents increased by more than five percent in 24 cities, including by eight percent in Columbia, SC, the highest over the past year. Wichita, KS, was the only city in 2023 with an average rent of less than $1,000, and it has since lost that title this year because of a 7.6 percent increase.

Via SmartAsset.

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