Zillow recently published a study that shows the price of leases creeping up around the country.
Between January 2014 and January 2015, rents increased an average of 3.3 percent. 72 percent of markets experienced some kind of rental growth in that time.
While the Bay Area continues to top the list, there are some up-and-coming hotspots that, once affordable, are seeing climbing prices.
Here are the cities with the largest increases this year:
1. San Francisco, CA, up 14.9%
2. San Jose, CA, up 13.4%
3. Denver, CO, up 10.2%
4. Kansas City, MO, up 8.5%
5. Nashville, NT, up 7.9%
6. Birmingham, AL, up 7.6%
7. Portland, OR, up 7.2%
8. Austin, TX, up 7.0%
9. Charlotte, NC, up 6.1%
10. Hartford, CT, up 6.0%
Tracking the movement of millennials also shows some correlation with rising rents. A comparison between the top cities for rising rent and the counties attracting the most millennials shows crossover in Denver, Nashville, Portland, and San Francisco, among other cities.
However, millennials are still slow to move into home ownership since having to pay more for rent makes it more difficult to save up for a house. Tack on student loans and it’s easy to see how more people are remaining renters than ever before.