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The average price of rents increased by 3.6 percent on a one-bedroom unit and 2.6 percent on a two-bedroom unit between December 2014 and December 2015, according to new data from Apartment List.
When it came to above-average rents, San Francisco led the nation with two-bedroom units renting for an average of $4,610 per month. San Francisco’s rents grew 5.5 percent during the past year, more than double the national average.
Other cities with higher than average rents for two-bedroom units were found along the East and West Coasts: New York ($3,400), Washington, D.C. ($2,800), Boston ($2,650), Miami ($2,540), San Jose ($2,480), Stamford, Conn. ($2,420), Seattle ($2,200), Los Angeles ($2,180) and Fort Lauderdale ($2,000).
But the most dramatic rent spike over the past year occurred in a market that rarely turns up in national housing data: Vancouver, Wash., experienced the fast growing rents with a 16.7 percent year-over-year increase. The median price for a two-bedroom apartment in this market is now $1,100.