Lincoln Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for Lincoln, NE. Currently, the overall median rent in the city stands at $1,087, roughly the same as last month. Prices and are now up 2.4% year-over-year. Read on to learn more about what’s been happening in the Lincoln rental market and how it compares to trends throughout the nation as a whole.

Lincoln rents are flat month-over-month and up 2.4% year-over-year

The median rent in Lincoln rose by 0.4% over the course of April, and has now increased by a total of 2.4% over the past 12 months. Lincoln’s rent growth over the past year has has outpaced both state (1.1%) and national (-0.8%) averages.

Lincoln rent growth in 2024 pacing above last year

Four months into the year, rents in Lincoln have risen 1.8%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 1.3%.

April rent growth in Lincoln ranked #57 among large U.S. cities

Lincoln rents went up 0.4% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #57. Similar monthly rent growth took place in Chula Vista, CA (0.4%) and Pittsburgh, PA (0.4%).

Lincoln is the #87 most expensive large city in the U.S., with a median rent of $1,087

Citywide, the median rent currently stands at $920 for a 1-bedroom apartment and $1,103 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,087. That ranks #87 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,226 for a 1-bedroom, $1,381 for a 2-bedroom, and $1,396 overall. The median rent in Lincoln is 22.1% lower than the national, and is similar to the prices you would find in Winston-Salem, NC ($1,098) and St. Louis, MO ($1,087).