There are several growing metro areas in the United States that have attracted a large amount of renters, and these numbers are nonetheless still continuing to grow. Incoming data reveals the top 7 metro areas in the U.S. that have seen the largest growth in rent over the last five years. These areas are, from the least growing to the most growing, are Phoenix, Arizona, Las Vegas, Nevada, Atlanta, Georgia, Arlington, Texas, Sacramento, California, Colorado Springs, Colorado, and Saint Petersburg, Florida.
Key Takeaways:
- Phoenix, Arizona is great because in the last five years rent has increased by a healthy $508 a month on average.
- Las Vegas, Nevada has also shot up in rent prices to a whopping $1,655 in 2020 for most civilians.
- While there are a few more cities on the list, Saint Petersburg, Florida takes the number one spot because rent has gone up $765 in the past five years.
“As always, I encourage you to do your research and make sure you have the right team set up before you jump into a new real estate market.”
Read more: https://www.biggerpockets.com/blog/metros-biggest-rent-growth-five-years
Kurt has gone from the financial lows of the ’08 financial crisis to personal financial success. He is a professional real estate investor owning properties in multiple states.
One of his passions is financial education and the pursuit of financial freedom.
You can learn more about Kurt here.