Subscribe to INT Podcast
|September 17, 2019|
For those who rent, this is no surprise
RIVERSIDE – (INT) - The rental market is on the rise, and those with the best climates like Riverside are leading the nation in rent appreciation.
Out of the 50 largest metro areas, the Riverside metro has the fifth-fastest-rising rents, according to the latest quarterly rent report from HotPads (Zillow Group’s rentals-focused brand).
The top four fastest ahead of Riverside are Phoenix, Las Vegas, Sacramento and Atlanta. The Los Angeles Metro Area is 17th fastest.
In the Riverside metro area:
• The median rent overall is $2,010 per month, up 5.5% year-over-year.
• Last year rents rose 5.7% annually.
• The median rent for a one-bedroom apartment is $1,325, up 5.9% from a year ago.
• Within the local area, the Victoria neighborhood in Riverside has the fastest-rising rents. The median rent in Victoria is $1,810 per month, up 10.6% year-over-year.
Story Date: July 19, 2019