Home prices might still be recovering, but the price of rentals has skyrocketed in these cities.
They say all things are bigger in Texas. And now Texans can include what they pay for rentals.
Oakland saw rents surge, partly fueled by renters priced out of San Francisco, which is still booming with tech talent.
The Sunshine State suffered more than the rest of the country during bust of the housing market. Record foreclosures and a weak economy have left many unable to qualify for a decent mortgage, making renting the next best option.
In a city where construction of apartments hasn’t kept up with demand, rents surged more here than in most U.S. cities.
The City of Brotherly Love isn’t as kind to renters these days, where prices climbed more than its bigger neighbor, New York City.
The Seattle area is home to big corporate headquarters like Microsoft and Amazon, which have helped its economy stay strong. Rents have surged as the supply of properties remains tight.
It seems builders aren’t building apartments fast enough in the Twin Cities. Rents have risen rapidly, even as construction of new apartments grows.
The windy city has seen rents rise rapidly as builders try to build enough apartments to keep up with demand.
New York, NY-NJ
It’s by far cheaper to rent than buy in Manhattan, but you can still expect to pay a lot to your landlord.