1. Baseline: Rental Prices Around Trump’s Election (2016)
- Average monthly rent:
- In 2016, the average rent was about $1,029, reflecting a 3.57% increase over the previous year iPropertyManagement.com.
- The U.S. median asking rent at the end of 2016 was roughly $856 per month YCharts.
These figures establish a baseline prior to the Trump administration (2017–2020).
2. Rent Evolution During Trump’s Presidency (2017–2020)
- Over that period, average rent rose steadily:
- From $1,029 in 2016 to $1,185 in 2020—that’s an increase of approximately $156 or 15% over four years iPropertyManagement.com.
3. Rental Market Trends After Trump (2021–2025)
- The upward trend continued, even accelerating during the pandemic:
- 2021: $1,265 (+6.76%)
- 2022: $1,341 (+6.03%)
- 2023: $1,448 (+7.95%) — the highest annual increase since 1921 iPropertyManagement.com.
- 2024: $1,535 (+5.11%)
- 2025 (projected): $1,650 (+7.52%) iPropertyManagement.com.
- In terms of inflation-adjusted comparisons:
- A $1,000 rent in 2016 equates to about $1,447 in 2025—a 44.7% increase over nine years In 2013 Dollars.
- A broader look from 2010 to 2025 shows a 73% increase in rent costs In 2013 Dollars.
- Median asking rent history:
4. Summary of Key Differences
| Period | Avg. Rent (Start → End) | % Increase |
|---|---|---|
| 2016 → 2020 (Trump years) | $1,029 → $1,185 | ~15% |
| 2021 → 2025 (Post-Trump) | $1,265 → $1,650 (proj.) | ~30.5% |
| 2016 → 2025 Overall | ~$1,000 → ~$1,447 (inflation adj.) | ~44.7% |
Key takeaways:
- Rental prices have continued rising post-2020, with even steeper growth than during Trump’s term.
- Overall, from 2016 to 2025, average U.S. rents increased by around 45%, outpacing general inflation.
5. Broader Context & Market Dynamics
- Supply & demand pressures: Throughout the 2020s, high home prices and limited supply have kept rental demand—and thus prices—elevated Financial TimesThe Wall Street JournalReuters.
- Recent trends show moderation:
- By late 2024 and into 2025, asking rents have begun to level off and even decline slightly in some areas:
- December 2024 saw a drop in median asking rent to $1,695—marking multiple consecutive months of year-over-year declines Reddit+1.
- As of May 2025, the median U.S. rent was $1,705—still high, but down slightly from the August 2022 peak of $1,759 Investopedia.
- By late 2024 and into 2025, asking rents have begun to level off and even decline slightly in some areas:
- Construction surge: Record numbers of new rental units (especially single-family rentals) have begun to balance the market The Wall Street Journal.
6. Inflation‑Adjusted Rent Trends by Region
While official regional CPI data for rent is limited, available insights indicate:
- Mountain division (West): Inflation over six years reached 27.6%, the highest among all regions.
- New England (Northeast): Saw a lower rent inflation rate of 22.0% over the same period. Media | Move, Inc.augustaceo.com
This suggests that renters in the Mountain West experienced greater rent increases relative to inflation, while New England fared slightly better in real terms.
Metros Where Rent Outpaced Inflation
Despite a general trend of rent lagging inflation, a handful of metropolitan areas saw rental growth ahead of inflation since 2019 (inflation benchmark ~25.6%):
| Metro Area | Rent Growth (0–2 BR) |
|---|---|
| Pittsburgh, PA | +43.2% |
| Tampa–St. Petersburg, FL | +41.6% |
| Miami, FL | +36.2% |
| Indianapolis, IN | +32.1% |
| Kansas City, MO | +31.3% |
| Sacramento, CA | +29.2% |
| New York–NJ–PA | +28.7% |
| Jacksonville, FL | +27.2% |
| St. Louis, MO–IL | +26.8% |
These metros clearly outpaced the national inflation rate. Media | Move, Inc.
Conversely, in cities like San Francisco, rents actually declined by 3.2% in real terms since 2019. Other areas showing minimal real gains include Minneapolis (+3.9%), Oklahoma City (+7.7%), Seattle (+7.9%), Denver (+8.9%), and San Jose (+8.9%). augustaceo.comMedia | Move, Inc.
Summary
- Mountain West region experienced higher inflation-adjusted rent increases (~27.6%) compared to the Northeast (~22.0%).
- Most U.S. regions saw rents rising more slowly than general inflation between 2019 and 2025.
- Exceptions where rents rose faster than inflation include metros like Pittsburgh, Tampa, Miami, and New York.
- Some markets, especially the more expensive coastal cities, actually saw rents fall after adjusting for inflation.
Conclusion
- Before Trump (pre-2016): Rents were rising gradually.
- During Trump’s presidency (2017–2020): Average rents grew by ~15%.
- After Trump (2021–2025): Rents surged further—around 30% in just four years, and nearly 45% overall from 2016 to 2025 when adjusted for inflation.
- Recent shifts: Early 2025 shows early signs of stabilization or modest decline in rental costs.
FAQ
How much did U.S. rent prices increase during Donald Trump’s presidency?
Between 2016 and 2020, the national average rent rose from approximately $1,029 to $1,185, a 15% increase. Rent prices increased steadily due to rising demand and stagnant housing supply.
Did rent prices rise faster after Trump left office?
Yes. From 2021 to 2025, average rents surged from $1,265 to a projected $1,650, marking a 30%+ increase—twice the pace of the previous four years. This spike was driven by pandemic-era housing shifts, inflation, and supply constraints.
How do inflation-adjusted rents differ by region?
Inflation-adjusted rent increases were highest in the Mountain West (27.6%) and lowest in New England (22%) from 2019–2025. Some cities, like San Francisco, even saw real rents decline due to high initial baselines and pandemic migration patterns.
Which cities saw rent increases outpace inflation?
Metros like Pittsburgh (+43%), Tampa (+41%), and Miami (+36%) experienced rent growth well above the national inflation rate (~25.6%). These cities saw strong population growth and housing shortages during the 2020s.
Is rent expected to keep rising in 2026 and beyond?
Rent growth is slowing in many areas as supply catches up and demand stabilizes. However, affordability challenges remain, especially in major metros. Experts project more moderate increases in 2026 unless inflation or interest rates shift dramatically.