Overview
- Zillow released its Summer 2026 ranking Monday, defining the hottest markets by fast rent growth, low vacancies and few rent concessions.
- Providence leads with 5% annual rent growth, a typical rent of $2,154 and only 12.9% of managers offering concessions, which Zillow says translates to about $86,000 in income to afford.
- New York ranks No. 2 with 4.5% rent growth and a $3,406 typical asking rent, as StreetEasy reports five-borough inventory down 7% and Manhattan posting 26 straight months of declines.
- San Francisco places third with 5.4% yearly rent growth and a 4.3% vacancy forecast over the next year, tighter than the 7.3% national outlook.
- Zillow contrasts these markets with Austin, Tampa and Phoenix, where a recent building wave added rentals and helped keep rent increases in check.