Ever wonder which cities are seeing the fastest rent growth? Apartment List keeps an eye out on rent rate stats on a monthly basis and monitors rental price growth across the nation. There are 10 large cities, with populations of over 250,000 people, where the median rent has experienced dramatic growth over the past 12 months. Nationally, the year-over-year growth in renting is 0.9 percent, a decrease from the two prior years, which were 2.3 percent in 2018 and 2.1 percent in 2017.
So, where are renters seeing the biggest price increases?
Cities such as Phoenix, AZ, San Jose, CA, and Raleigh, NC, are all major US tech hubs that attract a large inflow of industry professionals. Austin, TX and Charlotte, NC ended up in the top 10 for our best cities for dating list among Apartment List renters, so new renters there can also look forward to a great dating scene.
Check out the list of top 10 cities that have experienced the biggest rent growth within the last year:
|Rank||City Name||Price Change Year-over-Year||Population|
|5||Las Vegas, NV||3.10%||583,756|
|6||San Jose, CA||3.10%||945,942|
Interested in seeing more? Check out our rental data page where you can download complete data going as far back as 2014.
Apartment List Rent Report data is drawn monthly from the millions of listings on our site. 1-bedroom and 2-bedroom rents are calculated as the median for units available in the specified size and time period. Price changes are calculated using a “same unit” methodology similar to the Case-Shiller “repeat sales” home prices methodology, taking the average price change for units available across both time periods. For top city rankings, we calculated median 1-bedroom and 2-bedroom rents in 100 top cities and then ranked them by 2-bedroom rents.Top 10 Large Cities With The Biggest Rent Growth Within The Last Year