D.C. Has Some of Nation's Highest Rent Hikes - NBC4 Washington

D.C. Has Some of Nation's Highest Rent Hikes

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    With the meltdown of the real estate market still fresh in everyone's minds, Americans have been reluctant to start spending on houses again.

    As a result, rental rates have soared around the country, especially in D.C., where jobs are plentiful compared to the rest of the country.

    Bloomberg Business Week compiled a list of cities that have seen the biggest rent hikes in 2010.

    At number 9 on the list - the Washington-Arlington-Alexandria region.  Across the metropolitan area, the average monthly rent is $1,473, up 7 percent from the year before.  If you are in the market to rent, you'd be wise to bring along your checkbook, since open rentals move quickly.  In 2010, vacancy rates were at 4.6 percent.

    Also making Business Week's list: the Bethesda-Frederick-Gaithersburg market.  Outside the city, those rents are still high - averaging $1,497, a hike of 5.6 percent over the year before.  Vacancies in suburban Maryland were the same as inside the city - 4.6 percent.

    Business Week said the metropolitan area with the biggest year-to-year rent hike was Greenville, South Carolina, where rates leapt 11.2 percent.  To see the complete list, click here.