Four Cities Where Rent Is Increasing Fastest

Many of the top housing markets in the country are seeing a rental price decrease. Rents in Los Angeles have dropped 7.4%, and even the notorious San Francisco has seen rental prices go down by 3.4% in the past year. Although rental markets in many major cities are softening, some smaller cities are seeing their housing markets explode. Read on for four cities whose housing markets are taking off.

four-cities-where-rent-is-increasing-the-fastest

Vancouver, Washington

Right across the Columbia River from Oregon, Vancouver is a small northwest city easily commutable to Portland. As Portland becomes more and more popular, Vancouver, Washington has also seen rental prices rapidly increase. In the past year, the average rent in the city has gone up 11.81%, from $1382 per month to $1567 per month. Today, Vancouver is not much cheaper than the ultra hip Portland, where apartments cost $1609 per month on average.

Vancouver has plenty of draw besides its proximity to Portland. The whole city has stunning views of Mount St. Helens and Mount Hood, and has plenty of amazing hiking options right outside the city. Vancouver itself is a laid back northwest town with a mild climate, a killer farmers' market, and plenty of great microbreweries.

Vancouver

Vancouver is also a popular destination due to its convenient tax laws. Washington State doesn't have income tax, and Oregon, just a few miles south, doesn't have sales tax. Vancouver residents get the best of both worlds. One bedroom apartments in Vancouver rent for $1395 per month on average and two bedroom apartments cost $1713 on average.

Arlington, Texas

The Dallas Fort Worth area has been booming in recent years, and Arlington is one of the fastest growing housing markets in the Dallas Metro area. Since 2010, Dallas has welcomed more than 300,000 new residents, drawn to the area by a thriving job market, the killer nightlife, and the Texan charm.

In particular, Arlington has seen a rapid increase in housing prices. Though rents in Dallas have actually dropped 1.04% in the past year, rents in Arlington have increased 4.85%. Rents in Arlington are still substantially cheaper than in Dallas proper. The average rent in Arlington is $908 per month, more than $300 less than in Dallas, where the average rental price is $1250 per month.

Arlington TX

Besides the affordable housing, Arlington residents love that the city feels like a small town, but has all of the amenities of a sprawling metropolis. Home to the Texas Rangers and the Texas Cowboys, Arlington is a dream town for people who love sports. Enjoy a two foot long "Boomstick" hotdog while taking in a baseball game at Globe Life Park, or cheer the home team from a local sports bar.

 

One bedroom apartments in Arlington rent for $771 per month and two bedrooms go for $1007 on average.

Reno, Nevada

The slot machines aren't the only thing lighting up in Reno. 2017 has proven to be a huge year for the Reno rental market. The average rent in Reno has shot up 9.78% in the past year. As of October 2017, the average rent for an apartment in Reno, NV is $1094. One bedroom apartments in Reno average $936 per month and the average rent for a two bedroom apartment is $1138 per month.

Reno

The Northern Nevada city is known for its casinos and wild nightlife, but more and more people are choosing to stay in Reno for longer than just a bachelorette weekend. Reno is popular with more than just gamblers, it is also a popular launching pad for outdoor enthusiasts. The Truckee River is an amazing destination for fishing, kayaking, and whitewater rafting. In the winter time, all of the incredible ski slopes in Lake Tahoe are less than an hour away.

Sacramento, California

Sacramento is also seeing a rapid increase in rental prices. Average rent in the state capitol has gone up 7.4% in the past year. In comparison to other pricy California cities, Sacramento is still a relatively affordable place to live. The average rent for an apartment in Sacramento is $1405 per month. One bedrooms cost $1271 on average, and two bedrooms go for $1478 per month.

Sacramento

With a rich history and a wealth of attractions, Sacramento is much more than a star on a map. Right at the confluence of the American and Sacramento Rivers, the city is a bustling metropolitan area nestled in California's lush Central Valley. Midtown Sacramento is the hippest area in town, full of Victorian homes, tree lined streets, and plenty of cool bistros and coffee shops. Sacramento is an up and coming foodie town, so feast yourself on farm to table cuisine and innovative fusion food.

Vancouver, Arlington, Sacramento and Reno are all taking off in a big way. But with rents dramatically increasing, now is the time to make the move. Check out our rental listings to see if one of these up and coming cities is right for you.

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