As home prices soar and the rental season reaches its peak, the desire to rent has become increasingly prominent, reflected in a surge in demand for apartments. According to RentCafe’s research, certain cities are experiencing a significant uptick in listing activity and attracting considerable attention from prospective apartment hunters.
June experienced a shift in popularity among renters, with the Midwest emerging as the most sought-after region, closely followed by the South. Notably, the South secures the highest number of spots in the June ranking, with a total of 12 cities. The Midwest closely trails with 10 cities, dominating the top four positions. Atlanta maintains its status as the highest-ranking city in the South for the third consecutive month, securing the seventh spot overall.
Among these cities, Kansas City, MO, retains its position as the most desired city by renters in June, maintaining the top spot from the previous month. Overland Park, KS, located nearby, claims the second position, while Minneapolis ranks third. These cities experienced the highest engagement on RentCafe.com, as evidenced by the significant number of rental properties saved to favorites, personalized searches, limited availability of units, and overall high listing views.
Nearly half of June’s most sought-after top 30 cities are located in the South after six new locations in the region entered RentCafe’s ranking. For example, North Carolina tech hub Charlotte made it to the 20th spot, while neighboring college town Greensboro is this month’s 30th most in-demand city for renters.
Kansas City Takes the No. 1 Spot for June
Kansas City maintains a consistent reputation as a top-tier destination for living in the United States. This distinction is substantiated by various factors, including its expanding population, an abundance of employment opportunities, affordable cost of living, and a plethora of enjoyable activities to partake in. Additionally, residing in Kansas City grants convenient access to arguably the finest barbecue culinary experiences available. Additionally, Overland Park, the largest suburb of Kansas City, achieved a remarkable ascent in this month’s rankings, climbing an impressive 78 spots to secure the second position. In June, Overland Park maintained a similar number of available apartments compared to the previous year. However, renters displayed a significant increase in engagement, with a 27% rise in listing views and a substantial 63% increase in saved personalized searches. Notably, the number of favorited apartments in the city experienced an astonishing nine-fold surge in comparison.
For commercial real estate investors, this presents an opportunity to explore investment prospects in Kansas City and Overland Park’s rental markets The significant climb in rankings and increased renter interest highlight the potential for strong returns on investment. Furthermore, the stable availability of apartments in the area, combined with the heightened renter engagement, suggests a healthy market with a strong demand-supply dynamic.