- Montana, New Jersey, New York and California all posted double-digit rent gains in 2025 and have turned negative in 2026, according to Rentec Direct’s State of Rent report.
- Hawaii (up 28%), Idaho (14%), North Dakota (10%) and New Mexico (9%) have taken over as the fastest-growing states for average rent paid.
- National average rent paid is up only about 1% to $1,388 this year, from 5% a year ago, though it remains almost 40% above 2019.
Four states that posted double-digit rent gains in 2025 have turned negative this year, according to Rentec Direct’s report, GlobeSt reported.
California, Montana, New Jersey and New York all flipped from big increases to declines in average rent paid.
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Four States Flip
Montana made the sharpest turn: average rent paid is down 12% year to date after an 11% rise in 2025. New Jersey fell 9% after gaining 16%, and New York dropped 8% after a 15% jump.
California slipped 3% after a 14% surge. It had the nation’s highest average payment in 2025 at $2,399, with New Jersey third at $2,037.
Growth Moves Elsewhere
Hawaii posted the biggest gain, up 28% this year after 3% in 2025, and its average is approaching $2,800. Idaho rose 14%.
North Dakota is up 10% and New Mexico 9% after declines in 2025. North Dakota’s average of $840 is a very low base.
Rentec founder Nathan Miller said he was surprised to see some of the biggest increases in affordable markets such as Louisiana, South Dakota and Minnesota.
National Growth Stalls
Average rent paid nationally is $1,388 so far in 2026, up from $1,368. That is roughly 1% growth, versus 5% a year earlier.
The cumulative gain is still big. In 2019 the average was $993, and Miller said rents remain almost 40% higher.
Payments, Not Asking Rents
Rentec measures payments on in-place leases rather than listed rents on vacant units. That helps explain why its 8% New York decline reads so differently from the 4.3% citywide gain in Chandan Economics’ data we covered in our look at NYC rent growth.
Rent control, concessions and negotiated deals can separate payments from asking rents. The geography also differs: Rentec reports statewide figures.
Why It Matters
Last year’s winners are a poor guide to this year. Investors underwriting rent growth off 2025 trends risk overshooting in states where momentum has reversed.
Seven states still average below $1,000, led by West Virginia at $773, so the affordability gap between states remains wide.
