Detroit Emerges as Top Rental Hotspot in September
The boost was likely due to the city’s efforts to revitalize its business district.
Detroit topped the list of cities renters checking out apartments found most desirable in September. Online page views shot up by 16%, while available listings fell by 38%, according to RentCafe’s latest report on rental activity nationwide. The effect was to lift Detroit’s ranking from third in August to first in September – a remarkable achievement for a city once considered on the precipice of disaster.
The report said the boost was likely due to the city’s efforts to revitalize its business district, affordability, and emerging economic opportunities, as well as a rising number of downtown apartments that attract renters.
City scores are calculated based on rental availability, the number of monthly page views, the number of listings “favorited” and saved searches reflected in RentCafe’s rental listing data for the nation’s 150 largest cities.
Washington, DC ranked second nationwide with increased interest from renters, even though the number of available apartments in the city dropped by 6%. Minneapolis fell to third place, followed in descending order by Atlanta, Cleveland, Philadelphia, Fayetteville, NC, Winston-Salem, NC, and Chicago, while Cincinnati rounded out the top 10.
Four new cities – three in Florida – made it into the list of the nation’s 30 most in-demand rental markets. Tampa leaped 27 places to reach 21st place. It is not clear how the damage caused by Hurricanes Helene and Milton will affect this ranking, however. Hialeah’s achievement was even greater, as it soared 58 places to reach number 29. Jacksonville moved into the highest group in 30th place, but the report noted that there has been a 6% drop in apartment availability in the city. The fourth city to join this league was Newark, NJ, after climbing 53 places.
Renters showed a preference for cities in the South, which hosts 11 of the top 30 cities they checked out. Washington, DC, Atlanta, Fayetteville, Winston-Salem, and Louisville led the way. Nine Western cities reached the top ranking, led by Los Angeles, Vancouver, San Jose, Reno and Long Beach. Eight cities in the Midwest also attracted significant attention, led by Detroit, Minneapolis, Cleveland, Chicago and Cincinnati. Two Northeastern cities also made the top 30: Philadelphia and Newark.