Many investors are considering purchasing property in the United States, making it necessary to understand the relevant knowledge and development trends regarding rental prices in the U.S. To this end, WorldWay's immigration experts have compiled a list of the top ten cities in the United States with the highest rent increases for the reference of investors and friends immigrating to the United States.
According to media surveys: Due to strong demand and insufficient supply, Americans experienced the pain of rising rental costs in 2014, with renters paying an additional $21 billion to landlords. The latest analysis shows that in 2014, U.S. renters paid $441 billion in rent, an increase of nearly 5% from $420 billion in 2013. The number of tenants grew by 770,231 in 2014, with the average monthly rent increasing by $26 to $900.
Here are the top ten cities in the United States with the highest rent price increases:
1. San Jose, California
• Annual Increase: 14.4%
• Cumulative Rent Paid (USD): 5.88 billion
• Average Monthly Rent (USD): 1,807
2. San Francisco, California
• Annual Increase: 13.5%
• Cumulative Rent Paid (USD): 14.57 billion
• Average Monthly Rent (USD): 1,598
3. Birmingham, Alabama
• Annual Increase: 11%
• Cumulative Rent Paid (USD): 1.04 billion
• Average Monthly Rent (USD): 686
4. Denver, Colorado
• Annual Increase: 10.8%
• Cumulative Rent Paid (USD): 4.86 billion
• Average Monthly Rent (USD): 1,066
5. Pittsburgh, Pennsylvania
• Annual Increase: 10.6%
• Cumulative Rent Paid (USD): 2.38 billion
• Average Monthly Rent (USD): 708
6. Austin, Texas
• Annual Increase: 9.5%
• Cumulative Rent Paid (USD): 3.51 billion
• Average Monthly Rent (USD): 1,008
7. Oklahoma City, Oklahoma
• Annual Increase: 9.49%
• Cumulative Rent Paid (USD): 1.53 billion
• Average Monthly Rent (USD): 693
8. Cincinnati, Ohio
• Annual Increase: 8.7%
• Cumulative Rent Paid (USD): 2.23 billion
• Average Monthly Rent (USD): 685
9. Seattle, Washington
• Annual Increase: 8.6%
• Cumulative Rent Paid (USD): 7.75 billion
• Average Monthly Rent (USD): 1,154
10. Milwaukee, Wisconsin
• Annual Increase: 8.2%
• Cumulative Rent Paid (USD): 2.27 billion
• Average Monthly Rent (USD): 780
As a leading institution in U.S. investment immigration, WorldWay provides professional and attentive services that permeate every detail of the investor's immigration process to the United States. When clients first arrive in the United States, the WorldWay customer service center will provide comprehensive landing and settling assistance services, including arranging airport pick-up for first-time entry; assisting with bank account opening procedures; assisting in applying for a Social Security card; assisting in hotel reservations; assisting in booking flights to the U.S.; assisting in contacting driving schools and providing information on driver's license exams; assisting in contacting moving services; assisting in contacting real estate agents, and assisting in renting or purchasing property, among other related matters. For more information, please call: 400-138-2929.
