Americans' monthly rent is rising by hundreds of dollars.

Millions of Americans are seeing their rent prices rise, but by how much exactly? A recent study by LendingTree found that median market rents for one and two-bedroom apartments in several major metropolitan areas in the United States have surged by around 40% since the 2021 fiscal year. Median market rents are estimated values by the U.S. Department of Housing and Urban Development, aimed at reflecting typical prices excluding luxury homes. The largest increase in monthly rent for a one-bedroom apartment is in New York City, expected to rise by $854 by 2026, reaching $2655. The smallest increase is in San Francisco, at $54, but its 2026 rent is projected to be $2977, second only to San Jose, California.