15 Most Expensive U.S. Rental Markets

By Brian Reed
August 12, 2011

In the past, renting was typically treated as a brief stage in your life, a stepping stone between leaving the nest and saving to buy a home. 

But with the housing market and unemployment recovering at a snail's pace, Americans of all persuasions are turning to a safer, more stable option: the U.S. rental market. 

This increased demand, however, is no secret to landlords all across the country, who are taking advantage of the uptick in the market to increase their rental rates. That's good news if you own rental property, bad news if you're a renter.

Since rentals are seen as safer than buying during turbulent economic times and mortgages are difficult to come by, more former homeowners are flocking to rentals. This causes supply to shrink, demand to grow and therefore rent prices increase.

Methodology:

Using the latest data from Rentbits.com, we determined the average rental rates for all apartments in the metro area of each city over the last 12 months.