Chart E
Rent Trends in the 25 Largest Rental Markets
Y-o-Y % change
Median rent for
# U.S. Metro
in rents, Dec 2014 2-bedroom, Dec 2014
Median rent for
2-bedroom as share of
average local wage
1
Miami, FL
7.4%
2300
57%
2
Los Angeles, CA
7.0%
2450
53%
3
New York, NY
9.3%
3200
52%
4
Oakland, CA
11.6%
2400
45%
5
San Francisco, CA
10.8%
3600
45%
6
Riverside-San Bernardino, CA
5.0%
1500
44%
7
Orange County, CA
7.4%
2050
44%
8
San Diego, CA
4.1%
1950
42%
9
Cambridge-Newton-Framingham, MA
6.8%
2250
39%
10
Boston, MA
4.3%
2300
39%
11
Newark, NJ
7.1%
2100
37%
12
Chicago, IL
6.0%
1750
37%
13
Baltimore, MD
8.7%
1550
35%
14
Washington, DC
2.9%
2000
34%
15
Denver, CO
14.1%
1500
31%
16
Philadelphia, PA
7.5%
1500
31%
17
Seattle, WA
6.1%
1700
31%
18
Portland, OR
8.8%
1300
30%
19
Tampa-St. Petersburg, FL
7.5%
1100
29%
20
Dallas, TX
5.4%
1400
29%
21
Atlanta, GA
5.9%
1250
28%
22
Minneapolis-St. Paul, MN
3.2%
1300
28%
23
Houston, TX
3.1%
1400
27%
24
Phoenix, AZ
8.6%
1050
26%
25
St. Louis, MO
8.5%
900
22%
Source: Trulia Rent Monitor
The Silent Housing Crisis: A Snapshot of Current and Future Conditions
21