Fastest Growing Cities for Renters

Top 10 Fastest Growing Cities for Renters in the US

May 13, 2014 | Best Cities, Best Cities and Neighborhoods

May is National Moving Month! To help mark the busiest moving season of the year, Rent.com has teamed up with FlatRate Moving to create the Top 10 Fastest Growing Cities for Renters in the US. Did your city make the list?

10. Nashville, TN

Top 10 Fastest Growing Cities for Renters in the US - Nashville

[Image Source: Rent.com – 865 Bellevue, Nashville, TN]

Nashville is home to the infamous Music Row, which brings culture, fun and entertainment to the city, as well as a plethora of jobs in the music industry. Not able to sing in key? Nashville is also home to a 30 billion dollar healthcare industry, boasts a reasonable cost of living and offers affordable rental rates.

Percent Change in Population 2010-2012: 3.5%

Rental Vacancy Rate: 8.4%

Median Rental Rates: 1 bedroom: $840, 2 bedroom: $1,028

 

9. El Paso, TX

Top 10 Fastest Growing Cities for Renters in the US - El Paso

[Image Source: Rent.com – Villas at Zaragosa]

Along with its other Texan comrades, El Paso has seen an increase in population as well as a boost to its job market. Low crime, beautiful scenery, dry heat and low cost of living are big draws for out-of-staters. El Paso borders New Mexico and Mexico and is steeped in Wild West history and culture.

Percent Change in Population 2010-2012: 3.6%

Rental Vacancy Rate: 8.2%

Median Rental Rates: 1 bedroom: $634, 2 bedroom: $775

 

8. Miami, FL

Top 10 Fastest Growing Cities for Renters in the US - Miami

[Image Source: Rent.com – Bay Parc Plaza Apartments, Miami, FL]

In addition to clubs, parties and endless shopping, this gateway to the Latin community offers plenty of fun in the sun. Beautiful architecture, cuisine fit for foodies and breathtaking beaches make Miami a desirable destination. Who wouldn’t want to live in paradise?

Percent Change in Population 2010-2012: 3.6%

Rental Vacancy Rate: 8.2%

Median Rental Rates: 1 bedroom: $1,315, 2 bedroom: $1,600

 

7. Tampa, FL

Top 10 Fastest Growing Cities for Renters in the US - Tampa

[Image Source: Rent.com – Post Bay at Rocky Point, Tampa, FL]

Tampa has been helping to pull Florida out of the recession by adding thousands of jobs in recent years, enticing young talent from across the nation.  Its close proximity to the beach, fun attractions like Busch Gardens, award winning parks and museums make Tampa a fun place to live.

Percent Change in Population 2010-2012: 3.6%

Rental Vacancy Rate: 13%

Median Rental Rates: 1 bedroom: $849, 2 bedroom: $1,048

 

6. San Antonio, TX

Top 10 Fastest Growing Cities for Renters in the US - San Antonio

[Image Source: Rent.com – Villas in Westover Hills, San Antonio, TX]

San Antonio is the Texas City with a Mexican flair. From the Missions to the Hill Country, San Antonio offers many things to see and do, ranging from major theme parks to the River Walk, which is lined with restaurants, patios, galleries and shops.  Much of downtown San Antonio can be explored on foot or by way of the trolley system that runs frequently between points of interest. The Alamo City’s low unemployment and well-diversified economy makes job searching easier in industries such as tourism, education, military, financial services and more.

Percent Change in Population 2010-2012: 4.2%

Rental Vacancy Rate: 9.0%

Median Rental Rates: 1 bedroom: $815, 2 bedroom: $1,033

 

 

See the Top 5 Fastest Growing Cities for Renters in the US >

 

 

Methodology: Top 10 Cities for Renters on the Move is based on the fastest growing cities in the nation with higher than average rental inventory rates. Rent.com/FlatRate Moving looked at the top 75 metropolitan areas with 350K residents or more, based on U.S. Census data. These cities were then ranked based on with the percentage population increase from 2010-2012. Cities with rental inventory less than the national average of 8.2 were eliminated from the ranking. Median rental rates were provided by Rent.com.


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