Which U.S. cities have seen the biggest jump —and decline — in rent this year?
CBSN
Rents in some cities in the South and Midwest are rising faster than the national average, driven by the migration of residents on the East and West coasts seeking more affordable housing.
The trend has caused rent in cities like Raleigh, North Carolina, and Indianapolis, Indiana, to climb more than 15% in November compared with a year ago, according to a new report from Rent.com. Data shows that rent rose an average of 7.4% nationally.
Americans are leaving major cities in New York and California and relocating to midsize towns in the South, according to migration data from moving company PODS. The median rent in the New York City area is $4,100 a month and $3,415 in Los Angeles, compared with $1,500 a month in Indianapolis and $2,100 in Raleigh.
