16 US Cities With the Fastest Rising Rents
Money + Markets

16 US Cities With the Fastest Rising Rents

The Fiscal Times/iStockphoto

Rents nationwide increased 2 percent year over year in July, but not all cities saw such a modest rise.

U.S. rents rose to an average of $1,408 — the 47th straight month of gains, according to the latest figures from Zillow. Chicago, Washington, D.C., Indianapolis and Cincinnati experienced the smallest increases in rent among the 35 largest metros, rising less than 1 percent.

Rents appreciated the most in the Pacific Northwest. Seattle rents increased 9.9 percent to $2,052, while rents in Portland, Oregon, jumped 8.2 percent to $1,772. San Francisco rent appreciation came in third at 6.2 percent to $3,407, the second-highest rent in the country.

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San Jose, California, had the highest rents in the U.S. at $3,520. Rents there grew 4.5 percent year over year in July.

The metro with the cheapest rents in the country is Pittsburgh, where rents inched up 1.8 percent over last year to $1,113.

Here are the metro areas with the fastest growing rents in the last year:

Seattle -- 9.9 percent increase
Average rent: $2,052

Portland, Oregon -- 8.2 percent increase
Average rent: $1,772

San Francisco -- 6.2 percent increase
Average rent: $3,407

Sacramento, California -- 5.6 percent increase
Average rent: $1,675

Denver -- 5.1 percent increase
Average rent: $2,013

San Diego -- 5 percent increase
Average rent: $2,424

Miami -- 4.8 percent increase
Average rent: $1,887

Phoenix -- 4.8 percent increase
Average rent: $1,298

Los Angeles -- 4.7 percent increase
Average rent: $2,585

Boston -- 4.5 percent increase
Average rent: $2,308

San Jose, California -- 4.5 percent increase
Average rent: $3,520

Dallas -- 4 percent increase
Average rent: $1,543

Riverside, California-- 4 percent increase
Average rent: $1,738

Atlanta -- 3.9 percent increase
Average rent: $1,311

Tampa, Florida -- 3.7 percent increase
Average rent: $1,332

New York City -- 3.2 percent increase
Average rent: $2,411

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