Washington DC and Baltimore Lead Nation in YoY Rent Growth (Chicago Leads in Declining Rent Growth)

by Anthony B Sanders
The national’s capital, Washington DC and its sister city in Maryland, Baltimore have the distinction of leading the nation in year-over-year rent growth of over 12%, according to Zumper.
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San Francisco, where Tony Bennet left his heart, is the most expensive rental market in the nation for both 1 and 2 bedroom dwellings. New York City is second and Silicon Valley capital San Jose is third. And the home of US Congress and “affordable housing mission” entities Fannie Mae, Freddie Mac and HUD (US Department of Housing and Urban Development) is fifth in terms of most expensive 1 and 2 unit dwellings.
Among the “cheapest” dwelling cites are Fort Wayne Indiana, Akron Ohio, Detroit, and Wichita Kansas.
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Los Angeles, home of Jeffrey Lebowski and his one bedroom bungalow, is in sixth place.
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Rents are unaffordable despite ten years of Fed’s zero-interest rate policies (ZIRP) and Quantitative Easing (QE) programs. But interest rates are rising now that there is a new President.
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A typical Washington DC renter.
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