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News & Press: Industry News

Top 5 Fastest Rising Metro Area Rents - Surprisingly Not in California

Monday, September 16, 2019  
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According to Housing Wire, the real estate data firm Yardi Matrix reported that the national average for cost of rent rose to $1,469 in July, a gain of 3.4% from a year earlier. The top five markets for multifamily rent growth, based on the percent change in year-over- year rent growth were Pensacola, Florida; Wilmington, North Carolina; Las Vegas, Nevada; Phoenix, Arizona; and Boise, Idaho. Rents in those metro areas rose from a high of 9.1% in Pensacola to 7.1% in Boise. It’s worth noting that even with the strong rent increase in Boise, the average rent in Boise - at $1,176 – is still 19.9% below the national average.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
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