Rents at U.S. apartments increased by an average 4.6 percent since the third quarter of last year
Three California cities topped the list of where apartment rents have increased the most over the past year. San Francisco was first, at 13.4 percent, followed by San Jose’s 13.1 percent and Oakland’s 7.7 percent.
The other cities with the highest rent increases were: Seattle (7.3 percent), Austin (6.9 percent), New York (6.6 percent) and Minneapolis (6.2 percent), followed by Boston, Pittsburgh and Denver.
Denver ranks 10th in the nation for how much apartment rents have grown since the third quarter of last year, according to a report released Tuesday by RealPage Inc. Between then and the third quarter of 2011, Denver rents grew by 5.7 percent, trailing Boston’s and Pittsburgh’s 5.9 percent.
Source: Biz Journal