Looks like rental prices continue outpacing for-sale prices across major U.S. cities. For the HotPads Spring 2012 Housing Report, we compared weighted average listing prices of two bedrooms in March, April, and May 2011 against the same period in 2012.
Here is what we found:
- Across 45 major cities, rental prices grew 14.4% while for-sale prices increased 4%.
- San Francisco, Chicago, and Miami had the highest rental price growth while Detroit, Baltimore, and Pittsburgh experienced noticeable rental price declines.
- On the for-sale side, Miami, Washington, DC, and Charleston lead the way in sale price growth while Savannah, Pittsburgh, and Columbus saw the biggest price setbacks.
- San Francisco, Denver, and Seattle had fastest moving rental markets, as measured by number of days a property is listed on HotPads.
You can see the full report and interactive charts here.