April 2026 Rental Market Report

Hey everyone, Alex Smith here. In this month’s rental market report, I’m walking through what we saw in April across rent prices, days on market, maintenance trends, security deposits, and rent payment activity.

The spring rental market is active. Rents held steady, listings continued to move faster than they did during the winter, and tenant demand stayed strong. But the bigger story this month is rent delinquency. Nearly one in five April rent payments was not paid in full, which makes tenant screening, clear communication, and proactive rent collection especially important heading into peak leasing season.

The Market in April: Quick Read

April marked the transition into peak leasing season. Listing activity remained strong, and tenant demand continued its upward trajectory from March. Rents held steady at a $1,800 median while days on market ticked up slightly to 24 days after March’s 22-day low.

The spring market is active, but rising delinquency adds a note of caution for landlords and property managers.

What Rentals Are Going For

Median asking rent in April: $1,800/month

Rents were flat compared to March, holding at the same $1,800 median. The biggest jump between unit sizes remains at the 3BR to 4BR threshold, moving from $2,000 to $2,500, a 25% premium.

Townhouses continue to command the highest median rent of any property type at $2,559, well above houses at $1,950 and condos at $1,900. Studios also posted a notable increase, climbing to a $1,450 median from $1,338 in March.

By Bedroom Count

By Property Type

By State: Top 10 Markets by Volume

Illinois posted the lowest median rent in the top 10 at $894, which is 67% below Massachusetts at $2,725. The Illinois figure is likely skewed by a concentration of affordable multi-unit listings in downstate markets rather than reflecting Chicago rents specifically.

Top 10 Cities by Listing Volume

The volume leaders span a wide rent spectrum. Cambridge, MA ($3,000 median) and Washington, DC ($2,500) anchor the high end, while Peoria, IL ($750) and Galveston, TX ($1,190) represent affordable markets with active listing activity. The $3,000 gap between Cambridge and Peoria highlights the geographic diversity of rental demand across the platform.

Top 3 Most Expensive Cities (by Median Rent)

Cambridge, MA leads the top three with a $3,000 median rent and the highest average rent at $3,489, reflecting strong demand near Boston, major universities, and high-income employment centers. San Jose, CA follows with a $2,748 median rent, driven by its position in the heart of Silicon Valley and continued demand for rentals near major tech employers. Washington, DC rounds out the list at a $2,500 median rent, with a wider rent range that reflects the city’s mix of apartments, rowhomes, and higher-priced rentals in central neighborhoods.

Top 10 Most Affordable Cities (by Median Rent)

Pennsylvania and Ohio dominate the affordable list, with four PA cities and three OH cities in the top 10. Rochester, PA ($710 median) is less than one-fifth the cost of Somerville, MA ($4,000). Charlotte's appearance at $880 is notable given its reputation as a growing metro; the low median is driven by a handful of affordable multi-family listings rather than the broader Charlotte market.

Security Deposits

The average security deposit in April was $2,088, with a median of $1,800. The deposit-to-rent ratio came in at 1.02x, which is consistent with the prior two months and lines up with the standard practice of collecting roughly one month’s rent as a deposit.

Days on Market: Spring Momentum Holds

Median days on market was 24 days in April, up slightly from March’s 22-day low but still well below the winter peak of 34 days in December. That represents a 29% improvement compared to the December high.

For landlords listing right now, the takeaway is straightforward: most markets are still moving at a healthy pace, with many vacancies filling within three to four weeks.

Trailing 6 Months

By State

Illinois at 13 days, Massachusetts at 14 days, and Pennsylvania at 15 days were the fastest markets to fill vacancies. All three have been consistently near the top for the past several months.

On the slower end, Tennessee at 51 days, Minnesota at 39 days, and Texas at 34 days lagged significantly. Tennessee has been an outlier for two consecutive months now, suggesting there may be structural issues with tenant demand or pricing in that market rather than just a seasonal blip.

Colorado’s average DOM of 85 days is also notably high, even though its median is a more moderate 30 days. That points to a handful of long-sitting luxury listings pulling the average upward.

Maintenance: Pest Control Season Arrives

Overall maintenance volume dipped slightly from March, and the seasonal shift away from winter categories is becoming clearer. Plumbing remained the largest specific repair category, while pest control continued to climb as warmer weather moved in.

Top Maintenance Categories in April

Key Seasonal Maintenance Shifts

Pest control is the main trend to watch. Its share of total requests nearly doubled from the January low of 3.2% to 5.9% in April, and the summer peak is still ahead. For landlords and property managers, this is a good time to check vendor availability, review common tenant-reported issues, and get ahead of seasonal pest complaints.

Rent Delinquency: The Sharpest Rise in Six Months

The national rent delinquency rate reached 18.8% in April, the highest level in the trailing six months and a steady climb from November’s 12.5%.

Trailing 6 Months

By State: Highest Delinquency, 50+ Payments

By State: Lowest Delinquency, 50+ Payments

By City: Highest Delinquency, 50+ Payments

By City: Lowest Delinquency, 50+ Payments

By Property Type

By Bedroom Count

The geographic pattern is stark. Rust Belt and Southern cities top the delinquency charts, with Pittsburgh at 46.0%, Cleveland at 43.1%, Memphis at 40.9%, and Detroit at 35.1%.

Meanwhile, West Coast and Mountain West cities dominate the low end. San Jose at 4.2%, San Diego at 7.7%, and Cambridge, MA at 3.5% all came in well below the national average.

By property type, condos at 10.7% and apartments at 11.9% had the lowest delinquency rates. Mobile homes at 20.5% and single-family houses at 17.7% ran higher. Delinquency was relatively flat across bedroom counts, with 5+ bedroom units posting the highest rate at 19.9%.

The One Number to Remember - 18.8%

That is the share of April rent payments that were not paid in full, up from 12.5% just five months ago. The trend line has moved in one direction every single month.

For landlords in higher-delinquency markets like Pittsburgh, Cleveland, and Memphis, now is the time to tighten screening criteria, enforce late-fee policies, and build cash reserves to absorb missed payments.

For landlords in lower-delinquency markets like San Jose and San Diego, the data confirms that strong local economies continue to help reduce collection risk.

Either way, this is not a number to ignore.

Data source: Data from Hemlane platform activity, April 2026. Hemlane provides property management software for independent landlords and property managers across the U.S. This report is published monthly.