The second-quarter report for the top 25 cities with the biggest rent hikes is out, with quite a few changes on it compared to the first quarter. The No. 1 city might still be the same, but many others jumped around. Take a look to see what's different and where to invest.
RentRange, a provider of market data and analytics for the single-family rental industry, ranked the top 25 U.S. Metropolitan Statistical Areas by average rental rate increase for single-family homes between second quarter 2016 and the same quarter in 2015.
“An increasingly competitive home buying market bodes well for the single-family rental market relative to both demand and rental rate increases,” said Wally Charnoff, CEO of RentRange Data Services. “As home prices appreciate across the U.S., detailed market intelligence is essential to making well-informed and thoughtful investment decisions for single-family rental properties.”
RentRange uses data from approximately 250,000 single-family houses per month, and yields are derived from RentRange’s proprietary automated valuation model.
Here are the 25 cities with the biggest rent hikes: