1019 ET - Providence, R.I., tops Zillow's hottest rental markets list, edging out New York and San Francisco for the No. 1 spot. For renters in these markets, competition is fierce. 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, according to Zillow. The U.S. built more new units in 2024 than any year in the past half-century, Zillow says, but that boom largely bypassed the Northeast and coastal California, which is why rental competition there is so intense. In Providence, rents are up 5% year-over- year, and with just 12.9% of property managers offering concessions--the lowest share in the top 10--renters are finding little room to negotiate. The typical rent is $2,154 a month. (chris.wack@wsj.com)

(END) Dow Jones Newswires

May 18, 2026 10:19 ET (14:19 GMT)

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