California cities claimed seven spots on a top 10 list of cities experiencing the highest rental price increases for three-bedroom, single-family homes.
RentRange, LLC, a Westminster, Colorado-based data and analytics provider for the single-family rental market observed changes in rent prices for three-bedroom, single-family homes located in cities with at least 25,000 residents.
The data firm found the greatest growth in La Quinta, California, where rents increased 35.75 percent from December 2011 to December 2012.
The city’s single-family rents rose $932 over the year to a median rent price of $2,607.
Fullerton, California, ranked second with a rent increase of 26.1 percent, $605; and Palm Springs, California, ranked third with an increase of 20.55 percent, $391.