Rental Boom in Certain Areas
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Rents Are Exploding in These 25 Areas

Oct 19, 2015

Everyone knows how bad the rent is in New York City, and that it's even worse in San Francisco. But according to a new set of rental data from RentRange, rents for single-family homes have exploded significantly in numerous locations around the country this year. Considering that the Harvard Joint Center for Housing Studies found that four in 10 rentals is a single-family home, the boom is affecting families as much as single city dwellers.

Not surprisingly the price increase for rental housing in San Francisco is near the top, but the Fort Myers, Florida area was actually hit the worst by the exploding rental market.

In addition to charting the rent increase from Q3 2014 to Q3 2015, RentRange included average rental yield for single-family homes—how much landlords make. Despite the coastal high rents, landlords made out better in the midwest.

Here's the entire list:

RankMSA Ranking by Year-Over-Year Rental Rate Increase - Q3Change in Rent - Q3Average Yield - Q3
1Cape Coral-Fort Myers FL23.6%9.1%
2Sacramento-Arden-Arcade-Roseville CA17.6%6.6%
3North Port-Bradenton-Sarasota FL17.2%9.7%
4San Francisco-Oakland-Fremont CA17.0%5.6%
5Charleston-North Charleston SC16.5%9.0%
6Los Angeles-Long Beach-Santa Ana CA16.3%5.6%
7San Jose-Sunnyvale-Santa Clara CA16.1%4.7%
8Denver-Aurora CO14.6%6.7%
9Dallas-Fort Worth-Arlington TX14.0%13.4%
10San Diego-Carlsbad-San Marcos CA13.6%5.6%
11Nashville-Davidson-Murfreesboro-Franklin TN13.2%9.7%
12Portland-Vancouver-Hillsboro OR-WA12.6%6.6%
13Augusta-Richmond County GA-SC12.3%9.8%
14Stockton CA12.1%7.3%
15Seattle-Tacoma-Bellevue WA11.9%6.4%
16Columbus OH11.5%12.4%
17Tulsa OK11.3%11.7%
18Kansas City MO-KS10.6%12.7%
19Little Rock-North Little Rock-Conway AR10.4%N/A
20Tampa-St. Petersburg-Clearwater FL10.3%11.5%
21Orlando-Kissimmee-Sanford FL10.0%10.6%
22Oxnard-Thousand Oaks-Ventura CA10.0%5.7%
23Birmingham-Hoover AL9.8%14.8%
24Bakersfield-Delano CA9.7%9.6%
25Houston-Sugar Land-Baytown TX9.6%14.0%
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