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Apartment REP Blog
Jan 8

Written by: Apartment REP
1/8/2015 11:49 AM 

Written by Rebecca Troyer | TRIANGLE BUSINESS JOURNAL

The Raleigh-Durham area joins several mid-size metros as having the highest rent increases in 2014, according to a recent report in the Wall Street Journal.

The report, based on data from real estate research firm Reis Inc., looks at apartment rents in the fourth quarter 2014 compared to the previous year. Nationwide, the average increase was 3.6 percent; Raleigh rents rose 4.8 percent.

San Jose saw the largest spike, with rents rising 9.2 percent, followed by Denver at 7.9 percent.

The average monthly lease rate rose to $1,124.38 in 2014, the highest Reis began tracking the market in 1980.

Here are the top 10 markets for rent increases in 2014:

1. San Jose 9.2%

2. Denver 7.9%

3. Oakland, Calif. 7.5%

4. San Francisco 7.3%

5. Seattle 6.1%

6. Miami 6.0%

7. Charleston, S.C. 5.5%

8. Boston 4.9%

9. Raleigh-Durham 4.8%

10. Dallas 4.7%

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