In the decade since the housing market bubble rocked the economy, the homeowners’ market has felt the tides change.
While home prices across the country have risen, the market for renting has surged — in large part due to millennials, who have surpassed baby boomer generation as the largest generation in the American workforce.
In an increasingly digital world, the insurance industry has adapted. Companies like Lemonade have emerged and disrupted the insurance sector by offering renters, condo, co-op and homeowners’ insurance through non-traditional means. Jetty, which launched in multiple states in April, has insurance specifically designed for city dwellers. The market for renters’ insurance has opened the door for companies looking to insure the growing number of renters.
For those considering where to relocate next, factoring the cost of rent is an essential consideration. GOBankingRates, using data from Zillow on the year-over-year change in median rent, has determined the top 15 cities where rents have increased the most in 2017.
With this in mind, keep reading to see which cities renters may want to avoid:
15. Delray Beach, Florida
- May 2016 rent: $1,240
- May 2017 rent: $1,445
- Year-over-year change: $205
14. East Orange, New Jersey
- May 2016 rent: $995
- May 2017 rent: $1,200
- Year-over-year change: $205
13. El Cajon, California
- May 2016 rent: $1,150
- May 2017 rent: $1,357.50
- Year-over-year change: $207.50
12. Tacoma, Washington
- May 2016 rent: $946
- May 2017 rent: $1,155
- Year-over-year change: $209
11. Savannah, Georgia
- May 2016 rent: $905
- May 2017 rent: $1,119
- Year-over-year change: $214
10. Chula Vista, California
- May 2016 rent: $1,440
- May 2017 rent: $1,659.50
- Year-over-year change: $219.50
9. Newark, New Jersey
- May 2016 rent: $880
- May 2017 rent: $1,100
- Year-over-year change: $220
8. Foster City, California
- May 2016 rent: $2,741
- May 2017 rent: $2,968
- Year-over-year change: $227
7. Phoenix, Arizona
- May 2016 rent: $850
- May 2017 rent: $1,084.50
- Year-over-year change: $234.50
6. Euless, Texas
- May 2016 rent: $795
- May 2017 rent: $1,049
- Year-over-year change: $254
5. Corona, California
- May 2016 rent: $1,238
- May 2017 rent: $1,511.50
- Year-over-year change: $273.50
4. Columbia, Maryland
- May 2016 rent: $1,335
- May 2017 rent: $1,612
- Year-over-year change: $277
3. Jersey City, New Jersey
- May 2016 rent: $1,950
- May 2017 rent: $2,235
- Year-over-year change: $285
2. Medford, Massachusetts
- May 2016 rent: $1,600
- May 2017 rent: $2,005
- Year-over-year change: $405
1. Marina del Rey, California
- May 2016 rent: $2,800
- May 2017 rent: $3,241.50
- Year-over-year change: $441.50

