Rent Tracker
Rent Inflation in Ithaca, NY
The average asking rent in Ithaca, NY is $1,932/month as of 2026-08. That is +5.3% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,932/mo
as of 2026-08
Year-over-Year Change
+5.3%
24-Month Rent Trend
Monthly ZORI index values for Ithaca, NY.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $1,932 | +1.85% |
| 2026-07 | $1,897 | +1.83% |
| 2026-06 | $1,863 | -0.69% |
| 2026-05 | $1,876 | -1.05% |
| 2026-04 | $1,896 | -0.94% |
| 2026-03 | $1,914 | +1.00% |
| 2026-02 | $1,895 | +1.50% |
| 2026-01 | $1,867 | +1.91% |
| 2025-12 | $1,832 | -1.19% |
| 2025-11 | $1,854 | -1.23% |
| 2025-10 | $1,877 | +0.59% |
| 2025-09 | $1,866 | +1.74% |
| 2025-08 | $1,834 | +0.49% |
| 2025-07 | $1,825 | -1.08% |
| 2025-06 | $1,845 | +0.38% |
| 2025-05 | $1,838 | -0.11% |
| 2025-04 | $1,840 | +1.43% |
| 2025-03 | $1,814 | -1.79% |
| 2025-02 | $1,847 | +1.99% |
| 2025-01 | $1,811 | -0.55% |
| 2024-12 | $1,821 | +0.89% |
| 2024-11 | $1,805 | -0.88% |
| 2024-10 | $1,821 | +0.44% |
| 2024-09 | $1,813 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices