Peter Mondrose
If you live in the South or West this year there is a very good chance you will find yourself paying more for rent. Rent for single-family homes in those two parts of the country have increased the most according to RentRange.
The biggest hikes occurred in Cape Coral/Fort Myers, Florida, with the average rent increasing nearly 24% in the third quarter, compared to the same time last year.
Residents in Sacramento can also expect to pay upwards of 18% more than they did during the same period last year.
Seven of the top 10 cities with the largest rent increases were in Florida and California.
Experts admit that rent in some areas was “artificial depressed” following the recession and that rent prices are now getting back into line with their previous levels. Some states have seen a massive increase in cost of living such as a Charleston, SC.
Here are the 25 cities with the largest rental increases, according to RentRange:
1. Cape Coral-Fort Myers, FL (23.6%)
2. Sacramento-Arden-Arcade-Roseville, CA (17.6%)
3. North Port-Bradenton-Sarasota, FL (17.2%)
4. San Francisco-Oakland-Fremont, CA (17.0%)
5. Charleston-North Charleston, SC (16.5%)
6. Los Angeles-Long Beach-Santa Ana, CA (16.3%)
7. San Jose-Sunnyvale-Santa Clara, CA (16.1%)
8. Denver-Aurora, CO (14.6%)
9. Dallas-Fort Worth-Arlington, TX (14.0%)
10. San Diego-Carlsbad-San Marcos, CA (13.6%)
11. Nashville-Davidson-Murfreesboro-Franklin, TN (13.2%)
12. Portland-Vancouver-Hillsboro, OR-WA (12.6%)
13. Augusta-Richmond County, GA-SC (12.3%)
14. Stockton, CA (12.1%)
15. Seattle-Tacoma-Bellevue, WA (11.9%)
16. Columbus, OH (11.5%)
17. Tulsa, OK (11.3%)
18. Kansas City, MO-KS (10.6%)
19. Little Rock-North Little Rock-Conway, AR (10.4%)
20. Tampa-St. Petersburg-Clearwater, FL (10.3%)
21. Orlando-Kissimmee-Sanford, FL (10.0%)
22. Oxnard-Thousand Oaks-Ventura, CA (10.0%)
23. Birmingham-Hoover, AL (9.8%)
24. Bakersfield-Delano, CA (9.7%)
25. Houston-Sugar Land-Baytown, TX (9.6%)
