Trends in local housing prices represent relevant and visible cues on the national and local economy for citizens. Previous research demonstrated that changes in local housing prices influence political attitudes, such as support for incumbent governments or political preferences. While this research largely focused on homeowners, less is known about how housing price changes influence renters’ political attitudes. Since renting and owning are profoundly different experiences—renting being a cost and owning an asset—housing price changes may impact renters very differently from homeowners. This study addresses this research gap by examining the influence of local rental prices on residents’ satisfaction with local public administration. Empirically, the study draws on data from an original large-N geocoded survey, enriched with data on local rental prices, which was conducted in ten large German cities with different rental markets and pricing characteristics. The results of multilevel regressions show a negative relationship between high levels of rental prices as well as increasing rental prices over time and satisfaction with local public administration. This negative relationship appears to be mainly driven by exposure to particularly high rental price increases.