Top 25 Cities with the Largest Rent Increases

Families are facing much bigger rent checks this year — especially those living in many cities in the South and West.

Rent prices have been rising across the country, but rents for single-family homes in these two parts of the country increased the most in the last year, according to recent reports.

“The biggest increases were in the areas where the housing market which had been most depressed,

The steepest rent hikes were in Cape Coral/Fort Myers, Florida, with the average rent increasing nearly 24% in the third quarter, compared over the same time last year. In Sacramento, rents went up almost 18%.

7 of the top ten cities with the largest rent increases were in Florida and California.

Strong job growth, increased foreign Buying activity and a growing Millennial population has helped push rents up in California.

Millennials want to remain mobile and don’t know if they have economic stability yet. They may have to move relatively quickly and they’ve learned from the recent past that you can’t necessarily sell their Home as easily as they once did.

 

Click the link below to learn more on the subject and see the 25 cities with the largest rental increases.

To view the original article, click here: http://money.cnn.com/2015/10/19/pf/cities-largest-rent-increases/index.html?iid=Lead