Cities Where Rents Have Increased The Most

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Lockdowns during the COVID-19 pandemic made many renters realize they could pick up and move to a place where they could get more bang for their buck, but the ramifications of the global health crisis didn’t stop there.

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Stacker examined May 2022 data from the rental platform Apartment List to see which major cities have recorded the biggest year-over-year rent increases.

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Would-be homebuyers who have been priced out of Raleigh’s skyrocketing real estate market are continuing to rent, which creates a lack of supply and increases average rents.

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Big Tech companies like Oracle and Amazon are among the employers fueling job growth in Nashville. More good jobs in the city also fuels population growth, and the housing supply hasn’t been able to keep up.

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Tech companies like Oracle and Tesla relocated their headquarters from Silicon Valley to Austin, while Apple and Google have expanded their Austin offices. Remote workers also arrived from more expensive cities, causing more pressure on the housing market and keeping would-be homeowners in rental situations.

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Las Vegas

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Several contributing factors are at play, including a focus on single-family home construction versus apartment buildings and the proliferation of apartments being used as short-term or vacation rentals.

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Cities Where Rents Have Increased The Most

Lockdowns during the COVID-19 pandemic made many renters realize they could pick up and move to a place where they could get more bang for their buck, but the ramifications of the global health crisis didn’t stop there.

Stacker examined May 2022 data from the rental platform Apartment List to see which major cities have recorded the biggest year-over-year rent increases.

Would-be homebuyers who have been priced out of Raleigh’s skyrocketing real estate market are continuing to rent, which creates a lack of supply and increases average rents.

Raleigh, North Carolina

Big Tech companies like Oracle and Amazon are among the employers fueling job growth in Nashville. More good jobs in the city also fuels population growth, and the housing supply hasn’t been able to keep up.

Nashville, Tennessee

Austin, Texas

Las Vegas

Many remote workers moved to Las Vegas from more expensive cities and brought their higher-paying salaries with them. This has allowed them to afford rents that are out of reach to existing residents.

Several contributing factors are at play, including a focus on single-family home construction versus apartment buildings and the proliferation of apartments being used as short-term or vacation rentals.

Tucson, Arizona

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