Median Rent — Definition and What It Means for Your Income
The middle value of rental prices in an area — half of rentals cost more, half cost less.
Median rent is the middle value when all rental prices in an area are arranged from lowest to highest — exactly half of units rent for more, and half rent for less. It's a more representative measure than average rent, which can be skewed by extremely expensive units.
Why it matters
Median rent gives a realistic picture of typical housing costs without being distorted by luxury units at the high end of the market.
Example
If 10 apartments rent for $1,000, $1,000, $1,100, $1,200, $1,200, $1,300, $1,400, $1,500, $1,800, and $5,000, the median is $1,250 — much more representative than the average of $1,650, which is skewed by the $5,000 outlier.
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Median Rent — FAQ
Why use median instead of average rent?
Median is less affected by extreme outliers (very expensive luxury units), giving a more accurate picture of what a typical renter actually pays.