As housing demand continues to outpace supply, apartment rents all over the country are spiking. In its latest apartment report, Abodo listed 10 cities that saw the highest rent increases from Aug. 1 to Sept. 1.
“Rental rates have continued to rise year-over-year because many people across the nation enjoy the convenience of renting in comparison to owning a home,” report author Sam Radbil tells Bisnow. See which cities posted the highest increases.
Miami, FL.
August Rent: $1,599
September Rent: $1,739
Increase: 9%
Bakersfield, CA
August Rent: $669
September Rent: $725
Increase: 9%
Philadelphia, PA
August Rent: $1,291
September Rent: $1,379
Increase: 7%
Fresno, CA
August Rent: $743
September Rent: $790
Increase: 6%
Detroit, MI
August Rent: $572
September Rent: $606
Increase: 6%
Riverside, CA
August Rent: $898
September Rent: $950
Increase: 6%
Minneapolis, MN
August Rent: $1,368
September Rent: $1,424
Increase: 4%
Memphis, TN
August Rent: $829
September Rent: $857
Increase: 3%
St. Louis, MO
August Rent: $888
September Rent: $909
Increase: 2%
San Diego, CA
August Rent: $1,738
September Rent: $1,775
Increase: 2%
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