{"id":41312,"date":"2016-05-20T02:38:47","date_gmt":"2016-05-20T09:38:47","guid":{"rendered":"http:\/\/www.rentcafe.com\/blog\/?p=41312"},"modified":"2020-02-14T00:42:38","modified_gmt":"2020-02-14T08:42:38","slug":"the-20-markets-with-the-highest-expected-rent-growth-in-2016","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/the-20-markets-with-the-highest-expected-rent-growth-in-2016\/","title":{"rendered":"West Coast Rents on Fire: San Francisco Rents Projected to Rise Faster than Any Other US Metro in 2016"},"content":{"rendered":"

With homeownership rates at historically low levels and a lack of affordable housing options<\/a> in all major metro areas, renting becomes a challenge for renters all across the US, particularly low- and middle-income earners. Rents have been steadily rising for the past year, with the national average for an apartment hitting an all-time high of $1,181 in March 2016, up 5.7% from 2015.<\/p>\n

Looking ahead, it becomes pretty clear that it\u2019s not a question of \u201cif\u201d anymore, it\u2019s about how much rents will increase this year. If the Southeast and the Northeast Corridor maintain a fairly normal pace in rent growth, the West is expected to rock the landlords\u2019 world and post record-breaking price increases this year.<\/p>\n

In San Francisco<\/a>\u2019s case it\u2019s all the more dire as apartments here are already outrageously expensive \u2013 think $2,400 on average for a studio and $4,800 for a two-bedroom in the city. By year end, the Bay Area is expected to see a 10.5% jump in rent prices<\/strong>. The same goes for LA<\/a> and Sacramento<\/a>, where mild winters and lush scenery come at a price – not at all negligible and still on the rise.<\/p>\n

\"Top-20-cities-for-Rent-Growth-map\"<\/p>\n

Amid historic rent hikes, Portland remains a bargain for San Francisco and Seattle transplants<\/h2>\n

The biggest surprise comes from Portland<\/a>, where demographic and employment tailwinds keep demand for rental apartments up there as well. Rents in the city are expected to climb an impressive 8.8% this year, making Portland one of the main contenders for the \u201chottest metro for rent growth in 2016\u201d title. But when compared to other millennial-magnet, job-centered hubs on the West Coast, Portland is actually much easier on the pocket. Whereas Portland apartments rent for $1,252 on average, both San Francisco and northern neighbor Seattle<\/a> have higher average rents – $2,810 and $1,555, respectively.<\/p>\n

Looking for cheaper rent? March South!<\/h2>\n

Headed to the Southeast? You\u2019ve hit the jackpot! It\u2019s where the jobs, the nice weather, and the low rents are. Atlanta<\/a>, Orlando, Jacksonville, Miami<\/a>, Nashville, as well as Texas\u2019 major urban hotspots – San Antonio<\/a>, Austin<\/a>, Dallas<\/a>, and Houston<\/a> \u2013 are top choices for those in search of a more relaxed housing landscape.<\/p>\n

Check out the full list of the hottest markets for projected rent growth in 2016 in the nifty infographic below!<\/p>\n

\"Top-20-cities-for-Rent-Growth-table\"<\/p>\n

Note: The reported data comes from Yardi Matrix Monthly<\/a>, a report compiled by apartment market intelligence company Yardi Matrix which covers 113 US markets.<\/em><\/p>\n

\n
\n

Fair use and redistribution<\/h3>\n

We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

With homeownership rates at historically low levels and a lack of affordable housing options in all major metro areas, renting becomes a challenge for renters all across the US, particularly low- and middle-income earners. 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