Crampton Inspection Service

Real Estate Services

  • Home
  • About
    • About Us
    • Privacy Policy
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Home Pricing 101
  • Blog
  • Visit Our Website
  • Contact

10 U.S. Cities With The Steepest Rent Increases (2010)

March 23, 2011 by Crampton Inspection Service Leave a Comment

Rent is risingHome sales data is easing so far in this calendar year. Home resales and new construction have dropped to multi-month lows and, in many cities, home supplies are rising. One housing sector that’s not slowing, however, is rentals.

The rental market is booming.

As reported by the Wall Street Journal, the average apartment vacancy rate is 6.6% nationwide, down from 8.0% last year. In addition, the number of occupied apartments rose by more during Q4 2010 than during any comparable period of the last 10 years.

It’s a major reason why rents are up 2.3%.

Some areas, however, fared worse than others. This study of rent increases as published on MSNBC, for example, lists the 10 U.S. cities in which rents increased the most last year. And they may not be the cities you’d expect.

In order:

  1. Greenville, SC (+11.2%; $669 average monthly rent)
  2. Chattanooga, TN (+10.4%; $726 average monthly rent)
  3. Savannah, GA (+8.4%; $866 average monthly rent)
  4. Portland, OR (+8.1%; $875 average monthly rent)
  5. San Jose, CA (+8.0%; $1,716 average monthly rent)
  6. Nashville, TN (+8.0%; $786 average monthly rent)
  7. Tacoma, WA (+8.0%; $900 average monthly rent)
  8. Denver, CO (+7.5%; $873 average monthly rent)
  9. Washington, DC (+7.4%; $1,473 average monthly rent)
  10. Raleigh, NC (+7.4%; $785 average monthly rent)

Big cities New York (#18), San Francisco (#19), and Chicago (#24) showed modest gains, by comparison.

Not everyone across California wants to be a homeowner, but renters are facing a squeeze. With mortgage rates historically low and home values slow to recover, in many cities, the cost-benefit analysis is shifting toward buying.

Filed Under: Uncategorized Tagged With: Rent,Homeownership,Cost-Benefit

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Logo

Contact Us


Crampton Inspection Service

P.O. Box 6043
Moraga, CA 94570
Phone: 925-376-7707
Email: john@your-home-inspector.com
CALL (925) 376-7707

How can we help?

  • This field is for validation purposes and should be left unchanged.

Connect with Us



max-width: 80px;

Recent Articles

  • Getting A Mortgage When Self-Employed: What You Need To Know
  • What’s Ahead For Mortgage Rates This Week – February 6, 2023
  • 3 Reasons Why Buying an Investment Property Is the Best Way to Build Your Net Worth
  • S&P Case-Shiller Home Price Indices: Home Prices Fall In November
  • How to Run a Quick Financial Health Check Before You Apply for a Mortgage
Certified with California Real Estate Inspection Association (CREIA) and American Society of Home Inspectors (ASHI)

Looking For Something?

Our Location

P.O. Box 6043
Moraga, CA 94570

Copyright © 2023 · Powered by MySMARTblog