Rents across the United States have continued their downward trend for the 22nd consecutive month, yet housing affordability remains a critical challenge in major coastal cities, according to April 2025 data. While the national median rent has fallen significantly from its 2022 peak, cities like Miami, New York, and Los Angeles still impose heavy burdens on renters.

Coastal Cities Dominate Rental Affordability Crisis

Miami emerged as the least affordable rental market, with tenants spending a staggering 38% of their income on a median monthly rent of $2,345—$500 above what federal guidelines consider affordable. The city's rent-to-income ratio far exceeds the 30% threshold recommended by the U.S. Department of Housing and Urban Development (HUD).

New York followed closely at 37%, with Los Angeles (35.6%), Boston (32%), and San Diego (31%) rounding out the top five. Boston claimed the second-highest absolute rent at $2,968 per month, trailing only San Jose. Although these markets showed slight year-over-year improvements in affordability, the relief remains insufficient for middle- and low-income households.

National Trends Show Market Softening

The median rent across America's 50 largest cities stood at $1,699 in April 2025—$29 lower than the previous year and $60 below the 2022 peak. While seasonal factors pushed rents up by $5 from March, the increase was markedly weaker than historical patterns, confirming the market's cooling trajectory.

"The fundamental driver is an unprecedented surge in multifamily housing supply," analysts noted. The national rental vacancy rate climbed to 7.1% in Q1 2025—the highest since 2018—as new construction flooded the market. All unit types recorded price drops: studios fell 1.9% to $1,410, one-bedrooms declined 1.9% to $1,578, and two-bedrooms decreased 1.7% to $1,887.

Midwest Emerges as Affordable Alternative

Midwestern cities dominate the most affordable markets, with Oklahoma City leading at just 16.7% of income spent on its $994 median rent. Austin and Columbus followed with rent-to-income ratios below 18.5%. Among major improvements, San Diego saw its affordability ratio drop from 35% to 31.1% year-over-year.

"Supply-demand dynamics are reshaping rental economics," said economist Xu Jiayi. "Coastal premiums are shrinking as new inventory arrives, while the Midwest's cost advantage continues attracting renters." The report highlights a stark divide: 96% of tracked cities improved affordability, with only Kansas City (20.7%) and Milwaukee (26.8%) bucking the trend.