Top 10 Trending Neighborhoods in Major US Cities

Top 10 Trending Neighborhoods in Major US Cities

Posted by on April 8, 2017

It’s summertime in the city which means rents are high, workplace productivity is low, and all inhibitions are out the window. Not only is it prime vacation season, it’s also peak time for finding a new place to live. Apartment rates have been known to increase anywhere between 15% and 20% beginning April and ending around October. So we’ve decided to use our real-time rental data and Heat Map to pull together a summary of what neighborhoods are trending and and who’s flocking to them. While a few of the established submarkets are just now seeing a spike in listings, other’s are outliers experiencing a surge in new multifamily developments and gentrifying demographics.

The following summary was generated by RentHub’s real-time rent analytics in conjunction with census reporter data.

10. HARLEM, New York

Current Rent Median: $2,650
Last Year Median: $2,450
Increase: 8%
Rent Drivers: Parking, Gym, Secured Entry
Median Age/Income: 30yrs/$40,013
Avg. % of Income Spent on Rent: 79%

9. GREATER HEIGHTS, Houston

Current Rent Median: $1,700
Last Year Median: $1,571
Increase: 8%
Rent Drivers: Laundry, Garage, Granite
Median Age/Income: 35 yrs/$77,512
Avg. % of Income Spent on Rent: 26%

8. EAST BOSTON, Boston

Current Rent Median: $2,400
Last Year Median: $2,200
Increase: 10%
Rent Drivers: Secure Entry, Stainless, Lounge
Median Age/Income: 33 yrs/$50,336
Avg. % of Income Spent on Rent: 57%

7. CHERRY CREEK, Denver

Current Rent Median: $2,650
Last Year Median: $2,385
Increase: 11%
Rent Drivers: Stainless, Secure Entry, Gym
Median Age/Income: 37 yrs/$61,000
Avg. % of Income Spent on Rent: 52%

6. EMERYVILLE, Bay Area

Current Rent Median: $3,262
Last Year Median: $2,895
Increase: 13%
Rent Drivers: Garage, Granite, Pool
Median Age/Income: 37 yrs/$55,959
Avg. % of Income Spent on Rent: 70%

Posted in: US Cities

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