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• Confirmation Bias - 0%
• Anchoring Bias - 0%
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• Representativeness Heuristic - 6.3% (26 hits)
• Hindsight Bias - 0%
• Overconfidence Bias - 10.2% (42 hits)
• Framing Effect - 0%
• Loss Aversion - 0%
• Status Quo Bias - 0%
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• Optimism Bias - 0%
• Pessimism Bias - 6.8% (28 hits)

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The Hottest Rental Markets in the US 2026 - Business Insider

Zillow ranked the hottest rental markets heading into the summer by looking at metros where rents increased quickly, vacancies dropped, and rental concessions — like waived fees or a month free off the rent — were rarely offered.

It shouldn't come as a surprise that big cities like New York and San Francisco are regularly the busiest rental markets in the country; vacancies are low, and rents are climbing .

However, Zillow found that one Northeastern city with a population that's roughly 2% of New York City's took the cake for hottest market: Providence, Rhode Island.

"In Zillow's hottest rental markets, the math is simple: More people want to live there than there are homes to rent — whether for access to amenities, strong job markets or family ties, renters are competing over a limited supply," Ng said.

Providence, Rhode Island, a city with a population of about 195,000, is small, and its size plays a factor in its ranking.

It's recently been labeled an unaffordable place to buy a home, mainly due to its lack of housing inventory, which, in turn, can drive up rental prices .

Providence also has the lowest share of concessions in the top 10.

Read below to see the top 10 hottest markets for renters, according to Zillow.

Annual rent growth: 4.1%

Share of concessions: 40.3%

Vacancy rate forecast: 4.9%

Annual rent growth: 4.8%

Share of concessions: 28.8%

Vacancy rate forecast: 4.1%

Share of concessions: 27.5%

Vacancy rate forecast: 3.8%

Annual rent growth: 2.5%

Share of concessions: 29.7%

Vacancy rate forecast: 6.3%

Annual rent growth: 5.7%

Share of concessions: 22.4%

Vacancy rate forecast: 5.3%

Annual rent growth: 2.4%

Share of concessions: 29.4%

Vacancy rate forecast: 4.5%

Annual rent growth: 3.9%

Share of concessions: 22.3%

Vacancy rate forecast: 4.3%

Annual rent growth: 5.4%

Share of concessions: 33.2%

Annual rent growth: 4.5%

Share of concessions: 17.8%

Annual rent growth: 5%

Share of concessions: 12.9%

Vacancy rate forecast: 5.1%

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