Cities Where Rent Prices Are Increasing the Most

Find out which cities will make you want to buy, and which ones where it's best to rent

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Jul 18, 2017, 07:15 ET

LOS ANGELES, July 18, 2017 /PRNewswire/ -- It's no secret that where you live greatly affects how much you pay in rent. What's less known is that where you live can affect how much your rent will rise from one year to the next.

In a recent study, researchers for personal finance news and features website GOBankingRates reviewed median rental price data from May 2016 and May 2017 in select cities to determine the year-over-year change in dollars for a single-bedroom residence. The data was sourced and pulled from Zillow in June 2017.

In a recent study, GOBankingRates examined the year-over-year change in dollars for a single-bedroom residence to determine the cities in which rent is rising the most.

The five cities where rent prices increased the most and the five cities where rent prices decreased the most are listed here.

Click here to view the full study results.

Renters can use this information to help find affordable rental properties. Alternatively, they can use this data to help justify purchasing a home in areas where rents are rising the most.

U.S. Cities Where Rent Prices Are Increasing the Most

Marina del Rey, Calif.: +$441.50
Medford, Mass.: +$405
Jersey City, N.J.: +$285
Columbia, Md.: +$277
Corona, Calif.: +$273.50

U.S. Cities Where Rent Has Decreased the Most

Bronxville, N.Y.: - $475
Buffalo, N.Y.: - $355
San Francisco: - $226
Walnut Creek, Calif.: - $225
Danbury, Conn.: - $217

About GOBankingRates

GOBankingRates.com is a personal finance news and features website dedicated to helping visitors live a richer life. From tips on saving money to investing for retirement or finding a good interest rate, GOBankingRates helps turn financial goals into milestones and money dreams into realities. Its content is regularly featured on top-tier media outlets, including MSN, MONEY, AOL Finance, CBS MoneyWatch, Business Insider and dozens of others. GOBankingRates specializes in connecting consumers with the financial institutions and products that best match their needs. Start your journey toward a rich mind and full wallet with us here.

Contact:

Natalie Richter, Media Relations
GOBankingRates.com
[email protected]
310-297-9233 x137

SOURCE GOBankingRates