The cost to rent a home in the U.S. continued to climb at a modest pace in December, but rapidly escalating costs in cities such as San Francisco and Denver suggest that apartment dwellers are facing more financial pressure. Prices rose 3.3% in December compared with 12 months earlier. One standout was San Francisco where rents jumped more than 15% according to real estate data firm Zillow. Still, tenants are catching a break elsewhere. In Chicago, Minneapolis, Philadelphia, Baltimore and Washington, DC, rents rose by less than 2.2%. Rents in Minnesota’s Twin Cities area ticked up a mere 0.1 percent this past year to $1,501.
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