RentCafe: Miami, Chicago Area Top Rental Competition List

(Image courtesy of RentCafe; Breakout image courtesy of Blue Arauz/pexels.com)

RentCafe, Santa Barbara, Calif., reported that while the hottest spot for renters is Miami, the Chicago suburbs are a close rival.

RentCafe analyzes the largest 139 U.S. markets with available data to determine rental competitiveness. The metrics analyzed include the number of days apartments are vacant, the percentage of apartments occupied, the number of prospective renters competing for an apartment, the percentage of renters who renewed their leases and the share of new apartments completed recently.

Overall, the Midwest is the most competitive region for renters, with a rental competitiveness index of 79.5. The region also had 10 of the nation’s top 20 most competitive markets.

However, Miami tops the list of markets, with a score of 93.1. Suburban Chicago is at No. 2 with 88.4, followed by North Jersey, N.J., at 85.7, Lansing-Ann Arbor, Mich., at 85.4, and Suburban Philadelphia and Grand Rapids, Mich., tied at 85.3.

Fayetteville, Ark., was deemed the most competitive small rental market, with a score of 91.7. Rounding out the top five are Lehigh Valley, Pa., at 90.5, Lafayette, Ind., at 87.4, Providence, R.I., at 84.4, and Little Rock, Ark, at 83.7.

The national rental competitiveness score is 75.7, indicating a very competitive market so far in 2025. More renters are staying put compared with the beginning of last year, with 63.1% renewing their leases, compared with 61.5% last year.  

The average number of days a rental was vacant was 43 days at the beginning of 2025, compared with 41 days at the beginning of 2024. And, 93.3% of apartments were occupied, compared with 93% last year.