Rent rose 13.5% in 2024; see which capitals have the highest price

The average residential rental price in the country rose 13.5% in 2024, according to the FipeZap Index. The value per square meter (m²) reached R$48.12, according to the survey. The increase exceeds official inflation, calculated by the Brazilian Institute of Geography and Statistics (IBGE). However, it is a slowdown compared to the previous two years: 2022 (16.55%) and 2023 (16.16%). Rent rose 13.5% in 2024; see which capitals have the highest price

The research is a partnership between the real estate advertising platform Zap and the Economic Research Institute Foundation (Fipe), linked to the Faculty of Economics, Administration and Accounting of the University of São Paulo (FEA-USP). The survey monitors rental prices for ready-made apartments in 36 Brazilian cities, 22 of which are capitals, based on information from advertisements published on the internet.

THE increase of 13.5% last year is almost triple the Broad National Consumer Price Index (IPCA), calculated by IBGE, which accumulated 4.83% in 2024. Furthermore, it is double the General Price Index – Market (IGP-M), from the Foundation Getulio Vargas (FGV), commonly called “rent inflation”, as it tends to correct housing contracts annually. The IGP-M ended 2024 at 6.54%.

According to Fipe, in 2024 rent rose more than the average sale price of residential properties, which expanded 7.73%.

A more expensive room

The study points out that the rent for one-bedroom properties rose the most, 15.18%, surpassing the evolution of homes with two (12.71%), three (12.52%) and four or more bedrooms (14 .17%). “In 2022, what we saw in the rental market was the recovery of prices from the pandemic period, in which owners suspended price adjustments; in 2023 and, more strongly in 2024, the sector began to be favored by the macroeconomic context. Employment, which is an important factor for the rental market, in 2024, reached its record, positively impacting the sector”, assesses DataZap economist, Paula Reis.

In relation to the price per square meter (m²), a one-bedroom property is also more expensive (R$63.15). A two-bedroom home was advertised at R$44.84, on average.

Among the capitals, Salvador had the highest average increase in rent, 33.07%, followed by Campo Grande (26.55%) and Porto Alegre (26.33%). São Paulo (11.51%) and Rio de Janeiro (8%) had price expansions below the FipeZap Index average. Maceió had the smallest increase (3.35%), being the only capital that was below the official IBGE inflation.

The researchers clarify that the FipeZap index considers advertising prices for new rentals. “It does not incorporate in its calculation the correction of current rents, whose values are periodically readjusted in accordance with what is specified in the contract. As a result, the index captures the evolution of supply and demand for housing over time in a more dynamic way”, points out the institution.

The largest city in the country, São Paulo is the capital with the most expensive residential square meter (m²) for rent. Check the ranking:

São Paulo: R$57.59/m²

Florianópolis: R$ 54.97/m²

Recife: R$54.95/m²

São Luís: R$ 52.09/m²

Belém: R$51.83/m²

Maceió: R$51.51/m²

Rio de Janeiro: R$48.81/m²

Manaus: R$48.22/m²

Brasília: R$ 46.80/m²

Salvador: R$44.22/m²

Vitória: R$ 43.71/m²