Local minimum wage increases may help with rent affordability in 2026

National median rents for zero- to two-bedroom units in the 50 largest U.S. metros fell 1% year over year to $1,693 in November, showing continued rent softening through 2025. Median rents remain over 17% higher than in 2019. Only five metros are affordable for two minimum-wage earners. Minimum wage increases in some metros next year will improve affordability, notably in Detroit, Miami, and Tampa.