This time of year, scoring a rental can be a battle. Spring and summer are traditionally the hottest times of the year for rentals, and apartments can fly off the market in no time. Of course, as in all things real estate, location determines how hot the rental market is. Realtor.com looked at the 10 hottest rental markets in America based on its rental search data. Click through the gallery below to see them. (Text on all slides courtesy of Realtor.com).
Top 10 Rental Markets in America
Top 10 U.S. Rental Markets
Median rent: $1,355
The second-fastest-growing city in the nation, according to U.S. Census data, is also the fourth-biggest city in the nation. Jobs in the technology, engineering and science sectors have driven much of the growth. The Bayou City also has a thriving arts scene and topped the Forbes list of Coolest Cities in 2012.
Atlanta has consistently been on the list of fastest-growing cities for several years now. Georgia’s capital city is a major economic hub, the sixth-biggest in the nation, and has much to recommend it, including great restaurants, strong professional sports teams and a wide variety of cultural offerings. The Atlanta BeltLine is transforming a network of abandoned railways circling the city with a combination of rail, trail, greenspace, housing and art.
Hollywood beckons, but it’s more than the promise of celebrity that has people dreaming of the Golden State. People are drawn to Los Angeles for the weather, the beaches, the desert and the mountains. The city beckons with a wide variety of foods from many different cultures, as well as many universities and some of the country’s most exciting professional sports teams.
The Windy City may be first in President Obama’s heart. It’s home to great universities and museums, as well as diverse neighborhoods such as Wicker Park, the Loop, Lincoln Park, Hyde Park, and Lakeview, among others. Events like Lollapalooza keep this vibrant city connecting with young people, and it’s one of the best cities for sporting events, with destinations such as Soldier Field and Wrigley Field, the nation’s second-oldest ballpark.
Raleigh was named the Fastest Growing City in 2013 by Forbes. The population of the Raleigh, N.C., metropolitan statistical area has expanded 47.8% since 2000. Together with Durham and Chapel Hill, Raleigh forms the Research Triangle, which brings jobs in research, technology, health care and other fields pouring into the area and attracts some of the nation’s best and brightest. A smaller city, with less traffic and many of the amenities of its larger brethren, Raleigh is also famed for excellent public schools and affordable housing.
Walt Disney World and Universal Studios are two of the reasons that millions of tourists descend on Orlando each year, but more than the House of Mouse keeps the fifth-biggest city in Florida going strong. Dubbed the City Beautiful, Orlando offers many engineering jobs and has one of the largest research parks in the country.
San Antonio attracts more than 2.5 million people a year to the 4.2-acre complex known worldwide as the Alamo. The city charms visitors with the River Walk: Restaurants and shops cluster along the San Antonio River, and barges float tranquilly by. According to population estimates by the U.S. Census Bureau, for the year ending July 1, 2012, 8 of the 15 fastest-growing large U.S. cities and towns were in Texas, and San Antonio was the fourth-highest city in largest numeric population, adding 25,400 residents, coming in behind only New York, Los Angeles and Houston.
The Queen City is a major player in the banking industry, home to both Bank of America and the East Coast operations of Wells Fargo, making it the country’s second financial hub. It also has jobs in manufacturing, energy, health care and more. CareerBliss.com recently named Charlotte second on its list of happiest cities for college grads because of job opportunities, inexpensive rent and many of the same amenities found in larger cities.
Austin is beloved by many across the nation for music, entrepreneurship and amazing barbecue. It’s no surprise that this city has been one of the fastest growing in the country in recent years. Austin is also known for great schools: 11 high schools in the area landed on the 2013 list of America’s Best High Schools compiled by the Daily Beast and Newsweek.
The glittering city of Las Vegas claims our top spot. Although the Las Vegas Strip may be the town’s main draw for tourists, the city has a lot to offer beyond fine dining, gambling and blockbuster shows. If you like sunshine, this is your spot: Las Vegas is one of the sunniest spots in the whole country. The Downtown Project, led by Zappos CEO Tony Hsieh, is on a mission to revitalize the city’s downtown area, creating jobs, a culture for entrepreneurship, family events and more.