Listen Live
WOLB Featured Video

By Jeneba Ghatt

A recent report revealed that the Washington, DC, metropolitan area has had one of the highest rent hikes in the nation. Bloomberg Business week assessed data from Axiometrics, a company  that measures performance in the rental apartment sector, and came up with a list of the top 25 American cities where rents have increased substantially in 2010.

The Washington, DC, Arlington and Alexandria region showed an average monthly rent of $1,473, up 7 percent from a year ago. The reason for the spike has to do with the fact that there is low unemployment, but high demand in that region.  Vacancies move fast.

Of the 88 metropolitan areas that Axiometrics surveyed, the only ones where rents decreased were…

To read more, click here.