Hottest Rental Markets in U.S. - 2014

RentLinx crunched its data to find the most popular rental markets so far in 2014. Our list starts with the #5 spot and works its way up to the #1 city in 2014. Data is based on the number of renters who inquired about each property.

#5 Riverside, CA

With a population of 316,619, Riverside is a large city 60 miles southeast of Los Angeles, CA. The average monthly rent for a 1 bedroom apartment in Riverside is $1,057. The average monthly rent for a 2 bedroom apa
rtment in Riverside is $1,152. The cost of living in Riverside is 21.6% higher than the U.S. average. Job growth is positive at 1.17%, while unemployment is at 8.4% (1.6% higher than the national average). Class sizes are average with 23.6 students per teacher in the public school system. Riverside takes the #5 spot.

Breakdown by Property Type

#4 - Decatur, GA

Decatur is a small town of 20,086 and a suburb of Atlanta, GA. The average monthly rent for a 1 bedroom apartment in Decatur is $818. The average monthly rent for a 2 bedroom apartment in Decatur is $875. The cost of living in Decatur is 35% higher than the U.S. average. Job growth is positive at 1.77%, while unemployment is 6.8%, which is tied with the national average. There are only 13.1 students per teacher in the public school system.

Breakdown by Property Type

#3 - Washington, DC

The capital of the U.S., Washington D.C., takes the #3 spot. The average monthly rent for a 1 bedroom apartment in Washington is $2,283. The average monthly rent for a 2 bedroom apartment in Washington is $3,049. The cost of living in D.C. is a staggering 54% higher than the U.S. average. Population comes in at 632,323. Job growth is negative at -0.41%, while unemployment is 7.6%, which is 0.8% higher than the national average. Washington has small classrooms with only 12.1 students per teacher.

Breakdown by Property Type

#2 - Portland, OR

With a population of 609,456, Portland, Oregon takes the #2 spot. The average monthly rent for a 1 bedroom apartment in Portland is $1,591. The average monthly rent for a 2 bedroom apartment in Portland is $1,818. The cost of living in Portland is 25.7% higher than the U.S. average. Population comes in at 609,456. Job growth is positive at 1.59%, while unemployment is at 6%, which is 0.8% lower than the national average. There are 17.5 students per teacher in the public school system.

Breakdown by Property Type

#1 - Denver, CO

Denver, the capital and largest city of Colorado, takes the #1 spot. The average monthly rent for a 1 bedroom apartment in Denver is $1,447. The average monthly rent for a 2 bedroom apartment in Denver is $1,886. The cost of living in Denver is 15.1% higher than the U.S. average. Population comes in at 649,495. Job growth is positive at 3%, while unemployment is at 5.8%, which is 1% lower than the national average. There are 18.8 students per teacher in the public school system.

Breakdown by Property Type

Trends?

•    Each city costs over 15% more to live in vs. the U.S. average

•    Job growth is positive for all cities except Washington D.C.

•    Most cities have small classrooms relative to the U.S. average (22 students/teacher)

Sources:

RentLinx

The U.S. Census Bureau

The U.S. Bureau of LaborStatistics

Sperling’s Best Places