Rents are skyrocketing in these cities
RentRange, a data and analytics company for single-family rentals, identified at least 25 metro areas where rents for houses went up by double-digit percentages in 1 year. Montgomery, Alabama, ranked 25th, with house rents rising 10.1% year-over-year.
Places with rapidly rising rents show up all over the country, from Seattle to Port St. Lucie, Florida. The rent risers aren’t only the coasts; places such as Little Rock and Grand Rapids, Michigan, show up, too.
Rents for 3-bedroom, single-family houses rose by double-digit percentages in these metro areas from the 2nd quarter of 2015 to the 2nd quarter of 2016. There appears to be little correlation between rent changes and home price changes.
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