While New York, California, and Boston, Massachusetts, continue to be the most expensive rental markets in the country, some unexpected locales have actually experienced the largest increases in one-bedroom rental prices year over year.
The August report from Rent.com puts Greensboro, North Carolina, at the top of the list, with rent hikes of 74.2 percent, followed by Newport News, Virginia, at 60.7 percent, and Tulsa, Oklahoma, at 59.8 percent. Jon Leckie, a researcher with Rent.com, told The Epoch Times that such increases are not unusual, given the amount of people who have been flocking to these areas.
“We’re seeing a pattern where the markets around the larger metro areas are attracting more people because they’re less expensive, but still within an hour’s commute to a city,” he said. “People want to get out of the crowded, expensive core metros, and the trend toward more remote working means they may not have to commute every day.”…