There were 13 cities where single-family rents increased by at least 10 percent in the year ending in June – Bloomberg calls it “more evidence the middle class is also getting slammed.”
The cities include desirable markets such as Austin, Texas, San Francisco, Dallas, Portland, Ore., Seattle, and Denver, where the tech industry is booming. But there were also cities that aren’t often on the radar, such as Sarasota, Fla., and two Iowa cities that experienced the greatest increases: Des Moines and Ames, with 21 and 22 percent increases respectively.
Data comes from RentRange, which looked at median rents for three-bedroom single-family housing. Nationally, the median rent for these houses increased 3.3 percent to $1,320 between the first and second quarters, making it an annual increase of 6.1 percent.