NAA Launches Interactive Dollar of Rent Tool

ARLINGTON, Va. | January 27, 2026 - A new interactive research tool launched today by the National Apartment Association (NAA) shows that, despite misconceptions, the vast majority of rent payments - 89 cents per dollar on the national average - directly supports local communities, provides jobs and covers essential operating costs. The new research includes data from 44 states and Washington, D.C., 286 congressional districts and nearly 100 metros nationwide alongside breakdowns by rent type and property age, size and type.

"Just like countless American families and businesses, rental housing providers across all corners of our country have not been immune to the skyrocketing costs over the past few years," said NAA President & CEO Bob Pinnegar. "This data underscores that, while often mischaracterized, rental housing is a narrow margin industry - one that delicately balances the business of housing with the humanity of home. These findings must be a central part of the conversation as we work with policymakers to craft informed and responsible housing policy solutions."

The analysis is based on data provided by STATVAL™ and includes more than 150,000 standardized operating statements and 45,000 lender under-written appraisals from 2023 and 2024. Nationally, amongst the top expenses is the property's mortgage which accounts for 44 cents. Further, 43 cents covers operating expenses such as maintenance, insurance and utilities. Importantly, 10 cents goes back into the local community through property taxes, funding schools, emergency services and other critical local needs. The full dollar breakdown also includes costs like payroll and capital expenditures reserves.

"What stands out most in the data is its consistency," said NAA Advocacy Research Director Leah Cuffy. "No matter the geography, property type or rent type, nearly all of the rent dollar goes toward essential costs. There is very little left over, which shows just how challenging it is to run a business that provides quality housing while balancing such tight margins."

Rent payments are simply much more than just a routine monthly transaction; they play a crucial role in sustaining our nation's apartment communities and strengthening local economies. Learn more using NAA's new Dollar of Rent tool.

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About NAA
The National Apartment Association (NAA) serves as the leading voice and preeminent resource through advocacy, education and collaboration on behalf of the rental housing industry. As a federation of 140 state, local and global affiliates, NAA encompasses more than 94,000 members representing over 13 million apartment homes globally. NAA believes that rental housing is a valuable partner in every community that emphasizes integrity, accountability, collaboration, community responsibility, inclusivity and innovation. To learn more, visit www.naahq.org. NAA thanks its Strategic Partners AppFolio, The Home Depot Pro, Lowe's Pro Supply and Yardi.