These cities saw the highest rent increases over the past year; Where does NYC rank?

STATEN ISLAND, N.Y. — Housing affordability has become a major issue across the United States, not only for those planning to buy a home, but also for those looking to rent.

In recent years, the coronavirus (COVID-19) pandemic has prompted many to relocate all over the country, with remote work allowing residents to maintain their well-paying jobs while moving to new cities where they can get more bang for their buck.

However, the influx of new residents has driven up rent prices, particularly in warm weather cities, like Miami and Phoenix, that have grown increasingly popular among renters.

With that in mind, data journalism website Stacker sought to discover which U.S. cities have seen the highest year-over-year increases in rent prices.

Researchers analyzed data from the rental platform Apartment List to determine which major cities, with populations of at least 350,000 residents, saw the highest spikes in rent prices from May 2021 to May 2022.

Across the country, the average rent price has increased by 15.3% over the aforementioned timespan, though some cities, like the Big Apple, saw increases much higher than the national rate.

Here’s a look at the 10 major U.S. cities that saw the highest rent increases over the past year.

1) New York City, New York

• Median rent for a one-bedroom apartment: $1,956
• Median rent for a two-bedroom apartment: $2,066
• Change from May 2021: 31.8%

2) Tampa, Florida

• Median rent for a one-bedroom apartment: $1,419
• Median rent for a two-bedroom apartment: $1,751
• Change from May 2021: 27.6%

3) Miami, Florida

• Median rent for a one-bedroom apartment: $1,568
• Median rent for a two-bedroom apartment: $2,078
• Change from May 2021: 26.6%

4) Mesa, Arizona

• Median rent for a one-bedroom apartment: $1,290
• Median rent for a two-bedroom apartment: $1,488
• Change from May 2021: 24.9%

5) Phoenix, Arizona

• Median rent for a one-bedroom apartment: $1,232
• Median rent for a two-bedroom apartment: $1,490
• Change from May 2021: 23.3%

6) Tucson, Arizona

• Median rent for a one-bedroom apartment: $959
• Median rent for a two-bedroom apartment: $1,262
• Change from May 2021: 21.9%

7) Las Vegas, Nevada

• Median rent for a one-bedroom apartment: $1,113
• Median rent for a two-bedroom apartment: $1,423
• Change from May 2021: 21.9%

8) Austin, Texas

• Median rent for a one-bedroom apartment: $1,455
• Median rent for a two-bedroom apartment: $1,771
• Change from May 2021: 21.5%

9) Nashville, Tennessee

• Median rent for a one-bedroom apartment: $1,286
• Median rent for a two-bedroom apartment: $1,448
• Change from May 2021: 21.5%

10) Raleigh, North Carolina

• Median rent for a one-bedroom apartment: $1,270
• Median rent for a two-bedroom apartment: $1,445
• Change from May 2021: 20.9%