With recent migrations to tech centers like San Jose, Portland, Seattle and San Francisco comes the severe impact of housing demand and supply. Rent in these hot markets, among others, has exploded over the past five years as more millennial techies seek out jobs with bean bag chairs in the conference room.
- Zillow reported the national median rent at $1,405 in August, growing 1.7 percent annually.
- Over the past year, Seattle saw a 9.7 percent hike in rent.
- Rent growth in Houston nearly halted last year, but Zillow predicts it will pick up in 2017.