People can expect rent increases every year, and depending on where you live, those hikes can be steep.
Rent.com got to work analyzing where rent prices are increasing the most across the United States. Researchers found that apartments with high rent tend to be in warmer climates. These spots were in high demand for people seeking retirement and those working remotely.
One Florida city made it into the top ten U.S. cities with steep rent prices: Coral Gables. Rents increased 43.34% year-over-year in this South Florida location, according to the study.
Analysts also made more revelations about high rent prices in the Sunshine State: "Another 28 percent of the Top 100 most expensive cities for renters are in the South. The majority of the southern cities on the list (57 percent) are in Florida."
Here are the Top 15 most expensive U.S. cities for renters:
- Jersey City, New Jersey
- Boston, Massachusetts
- Palo Alto, California
- Glendale, California
- Santa Monica, California
- Coral Gables, Florida
- Hoboken, New Jersey
- Redmond, Washington
- San Diego, California
- Newport Beach, California
- Cambridge, Massachusetts
- Los Angeles, California
- Cambridge, Massachusetts
- Los Angeles, California
- San Francisco, California
- Alameda, California
- Santa Clara, California
Click HERE to check out the full list and study.