Report: Stockton sees fastest growing rent in U.S.

According to RENT Cafe, a housing and apartment listing website, rents in Stockton grew more than 11 percent -more than Modesto and Sacramento. (May 5, 2017)

Sacramento is in the spotlight for rising rent costs, but a Central Valley city is stealing some of the attention.

Stockton became the fastest growing city in the country, according to the April Rent Report by RENTCafe, a housing and apartment listing website.

Rents in Stockton grew 11.2 percent over the year, more than Modesto and Sacramento both which also saw a spike in rent at 9.4 percent and 9.2 percent, respectively. Modesto ranked 6th on the list while Sacramento sits at number 8.

California cities made up most of the rent-growth list with 11 of the top 20 cities located within the state.

Sacramento has been watching rent prices rise with no signs of slowing over the past few years. The soaring rent is due to a lack of new housing units, as well as a boom in population, many who are Bay Area residents looking for more affordable living.

San Francisco, San Mateo and San Jose are in the top 10 cities with the most expensive rent.

Rent in Sacramento, Stockton and Modesto are still below the average U.S. apartment rent which hit $1,314 in April. Rent in Stockton averages $1,029, in Sacramento it's $1,212 and in Modesto, $1,083.

© 2017 KXTV-TV


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