Statistics · 2026 · Real Estate
Rental Property Statistics (2026)
Johnstown, PA has the highest gross rental yield WealthyBud tracks, at 10.35%, while the median across 394 guarded U.S. metros — those with a median price of at least $100,000 and 100 or more active listings — is 4.42% as of September 2026. The typical U.S. asking rent is $1,951 as of May 2026, up 2.0% year over year, per Zillow, and the national average apartment cap rate sits near 5.04%, per Yardi Matrix. Gross yield is annual rent divided by price, before expenses.
Key takeaways
- The median gross rental yield across 394 guarded U.S. metros is 4.42%, computed from WealthyBud’s own dataset as of September 2026.
- Johnstown, PA leads at 10.35% on a median price of $119,975; San Juan, PR is lowest at 1.24% on a median price of $622,250.
- The median HUD FY2026 2-bedroom Fair Market Rent is $1,323 across 397 tracked metros, effective October 1, 2025, per HUD.
- The typical U.S. asking rent was $1,951 in May 2026, up 2.0% from a year earlier, per the Zillow Observed Rent Index.
- The Census Bureau’s 2024 American Community Survey puts median gross rent (rent plus utilities) at $1,487, up 2.7% from $1,448 in 2023, per the Census Bureau.
- The average U.S. apartment cap rate is near 5.04% as of September 2025, up from a 2021 low of 4.1%, per Yardi Matrix data covering 929 multifamily deals across 30 major markets, reported by CRE Daily.
- 275 of 394 guarded metros (69.8%) clear a 4% gross yield, the baseline screening threshold WealthyBud’s cash-flow tools use.
What is a typical gross rental yield in the U.S.?
The median gross rental yield across 394 guarded U.S. metros — those with a median price of at least $100,000 and 100 or more active listings — is 4.42% as of September 2026. Gross yield is annual rent divided by price, before taxes, insurance, vacancy and maintenance.
1. Median gross rental yield: 4.42%
Across 394 guarded U.S. metros (median price ≥ $100,000, active listings ≥ 100), the median gross rental yield is 4.42% as of September 2026 (WealthyBud data · 394 metros).
2. The guarded pool covers 41.5% of all tracked metros
394 of the 950 U.S. metros WealthyBud tracks clear the $100,000-price, 100-listing guardrail used to keep thin markets from skewing the yield ranking (WealthyBud data · 950 metros).
3. An ACS-based rent estimate puts the median yield lower, at 3.72%
Using each metro’s Census ACS median gross rent instead of HUD’s 2-bedroom Fair Market Rent, the same 394-metro pool medians 3.72% — lower than 4.42%, mainly because ACS rent blends all unit sizes (WealthyBud data · September 2026).
Which U.S. metros have the highest rental yields?
Johnstown, PA posts the highest gross rental yield in WealthyBud’s guarded pool, at 10.35%, on a median price of $119,975. Just 4 of 394 guarded metros clear an 8% yield, and none has a median price above $179,450 — a low-price pattern.
4. Johnstown, PA has the highest guarded-pool yield: 10.35%
On a median price of $119,975, Johnstown, PA posts the highest gross rental yield among 394 guarded metros as of September 2026 (WealthyBud data).
5. Only 4 of 394 guarded metros (1.0%) clear an 8% yield
4 metros in the guarded pool post a gross rental yield of 8% or higher, and none has a median price above $179,450 (WealthyBud data · 394 metros).
| Metro | Gross yield | Median price |
|---|---|---|
| Johnstown, PA | 10.35% | $119,975 |
| Elmira, NY | 8.58% | $179,450 |
| Decatur, IL | 8.51% | $149,975 |
| Saginaw, MI | 8.12% | $165,000 |
| Altoona, PA | 7.80% | $175,000 |
| Kokomo, IN | 7.16% | $188,175 |
| Peoria, IL | 6.95% | $179,300 |
| Muncie, IN | 6.90% | $181,500 |
| Albany, GA | 6.88% | $197,000 |
| Terre Haute, IN | 6.87% | $189,625 |
Which metros have the lowest rental yields?
San Juan, PR has the lowest gross rental yield in the guarded pool, 1.24%, on a median price of $622,250. 19 of 394 guarded metros fall below a 3% yield, because median prices run high relative to rent.
6. San Juan, PR has the lowest guarded-pool yield: 1.24%
On a median price of $622,250, San Juan, PR posts the lowest gross rental yield among 394 guarded metros as of September 2026 (WealthyBud data).
7. 19 of 394 guarded metros (4.8%) fall below a 3% yield
High median prices relative to rent push 19 guarded metros under a 3% gross yield (WealthyBud data · 394 metros).
8. The spread between the highest and lowest guarded metro is 9.1 points
Johnstown, PA at 10.35% versus San Juan, PR at 1.24% is a gap of 9.1 points, underscoring how much local price-to-rent ratios vary (WealthyBud data · September 2026).
9. 3 of the 5 lowest-yield metros are in Puerto Rico
The five lowest guarded-pool yields are in San Juan, PR, Aguadilla, PR, Mayaguez, PR, Santa Barbara, CA and Coeur d'Alene, ID — high-price markets relative to local rent (WealthyBud data · September 2026).
- San Juan, PR posts a gross rental yield of 1.24% on a median price of $622,250.
- Aguadilla, PR posts a gross rental yield of 1.28% on a median price of $530,500.
- Mayaguez, PR posts a gross rental yield of 2.13% on a median price of $300,000.
- Santa Barbara, CA posts a gross rental yield of 2.18% on a median price of $1.72M.
- Coeur d'Alene, ID posts a gross rental yield of 2.45% on a median price of $759,000.
Run the numbers on any rental deal — cash flow, cap rate, cash-on-cash, DSCR
How much does a 2-bedroom rental cost across the U.S.?
HUD’s FY2026 Fair Market Rent for a 2-bedroom unit has a median of $1,323 across 397 metros WealthyBud tracks. Separately, Zillow’s Observed Rent Index puts the typical U.S. asking rent for all unit types at $1,951 in May 2026, and the Census Bureau puts median gross rent at $1,487 for 2024 — three different, real rent benchmarks.
10. Median HUD FY2026 2-bedroom Fair Market Rent: $1,323
Across 397 metros WealthyBud tracks, the median 2-bedroom Fair Market Rent runs from $475 in Guayama, PR to $4,214 in Santa Cruz, CA, per HUD’s FY2026 FMRs, effective October 1, 2025.
11. Typical U.S. asking rent: $1,951, up 2.0% year over year (May 2026)
The Zillow Observed Rent Index puts the typical U.S. asking rent at $1,951 in May 2026, up 2.0% (about $39) from a year earlier, per the Zillow May 2026 Rental Report.
12. Census median gross rent: $1,487, up 2.7% from 2023
The Census Bureau’s 2024 American Community Survey puts median gross rent (rent plus utilities) at $1,487, up 2.7% from $1,448 (inflation-adjusted) in 2023, per the Census Bureau’s 2024 ACS 1-year release, published September 11, 2025.
What is a good cap rate for a rental property in 2026?
The average U.S. apartment cap rate is near 5.04% as of September 2025, per Yardi Matrix data, up from a 2021 low of 4.1%. Cap rate is net operating income divided by price, a different, expense-adjusted measure than the gross yields above. WealthyBud’s median guarded-pool price-to-rent ratio is 22.6 years of rent to equal the purchase price.
13. National average apartment cap rate: about 5.04% (September 2025)
Yardi Matrix data covering 929 multifamily deals worth $41 billion across 30 major U.S. markets put the average apartment cap rate near 5.04% through September 2025, up from a 2021 low of 4.1%, as reported by CRE Daily. Cap rate nets out expenses; gross yield above does not.
14. Median price-to-rent ratio: 22.6 years
Dividing median price by annual HUD Fair Market Rent across 394 guarded metros gives a median of 22.6 years of rent to equal the purchase price — the inverse of gross yield (WealthyBud data · 394 metros).
15. 275 of 394 guarded metros (69.8%) clear a 4% gross yield
275 guarded metros post a gross rental yield of 4% or higher, the baseline screening threshold WealthyBud’s cash-flow calculator and Investor Score use (WealthyBud data · September 2026).
16. Sub-$200,000 metros average a 7.4% yield versus 3.9% for metros at $400,000+
The 15 guarded metros priced under $200,000 average a 7.4% gross yield, 1.9 times the 3.9% averaged by the 152 metros priced at $400,000 or above (WealthyBud data · September 2026).
What this means for renters and investors
For investors screening deals, the 9.1-point gap between Johnstown, PA and San Juan, PR shows a national median yield hides wide local variation. The 15 sub-$200,000 guarded metros average a 7.4% yield versus 3.9% for the 152 metros at $400,000 and above, so price tier alone predicts much of the gap.
Gross yield and cap rate answer different questions. Gross yield ignores taxes, insurance, vacancy and maintenance. The roughly 5.04% average apartment cap rate Yardi Matrix reports is net of operating expenses on institutional stabilized properties, so it will not match a single-family gross yield figure directly — both are useful at different underwriting stages.
For renters, rent growth has cooled sharply from pandemic-era spikes but has not reversed. Zillow’s asking-rent index is up 2.0% year over year and the Census Bureau’s ACS shows median gross rent up 2.7%, both well below the double-digit increases of 2021–2022.
The HUD-versus-ACS gap matters for landlords with voucher-backed tenants: HUD’s FY2026 Fair Market Rents, which set the gross yield above, run above the ACS-based estimate in the median metro, so voucher rent ceilings are not always the binding constraint.
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