14.4% Spring Surge for Rentals as Sale Prices Rise 4%

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Looks like rental prices continue outpacing for-sale prices across major U.S. cities. For the HotPads Spring 2012 Housing Report, we compared weighted average listing prices of two bedrooms in March, April, and May 2011 against the same period in 2012.

Here is what we found:

• Across 45 major cities, rental prices grew 14.4% while for-sale prices increased 4%. 
• San Francisco, Chicago, and Miami had the highest rental price growth while Detroit, Baltimore, and Pittsburgh experienced noticeable rental price declines.
• On the for-sale side, Miami, Washington, DC, and Charleston lead the way in sale price growth while Savannah, Pittsburgh, and Columbus saw the biggest price setbacks.
• San Francisco, Denver, and Seattle  had fastest moving rental markets, as measured by number of days a property is listed on HotPads.

You can see the full report and interactive charts here.

Comments

[Brenda]

Wow! Great article on rentals vs home buying.

[Lake Mead boat rentals]

Studios and one-bedroom apartments in Manhattan made a comeback during the first three months of this year, according to quarterly residential market reports released Tuesday morning, as rising rents forced more people to look at buying a place.

[turks and caicos car rental]

After years of recession and falling prices, this is shaping up to be a breakout spring market, both for communities along the Interstate 495 corridor, from Westford down to Plainville and for other markets across the state.

[San Mateo Real Estate]

It's interesting to see how much prices and rent has changed since last year.

[Multifamily Apartments]

Hey excellent can I use some of the information from this blog post if I include a link back to your website?

[Washington DC Vacation Rentals]

The 26 year old police officer lost 13 bids in a competitive market marked by strong investor interest and a tight supply of homes for sale. Given price increases she's also had to pursue smaller homes to stay inside her budget.

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