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The Best and Worst Rent Growth Markets This Year
Lindsay Machak / MULTIFAMILY EXECUTIVE / August 23, 2013
Two of the nation’s largest states have seen the largest rent growth over the last year.
San Francisco tops the list of the 50 largest metropolitan areas with rent growth at 7.8 percent in the first half of 2013, while its neighbor across the bay, Oakland, comes in second with 6.9 percent.
San Francisco also posted the nation’s largest rent growth for all of 2012 with 8 percent.
The Las Vegas market fell to the bottom of the pack right behind New York City. The Bureau of Labor Statistics reported Nevada having an unemployment rate of 9.5 percent in July, the highest in the nation.
However, coming in with 0.2 percent rent growth is a step in the right direction for the struggling city, since the Las Vegas market saw negative rent growth overall last year.