San Jose, Calif.
(iStockPhoto)
Average rent: $1,635
Annual increase:
6.8 percent
Unemployment rate:
10.6 percent
Proximity to Silicon Valley and a tight supply of real estate make San Jose the market where rents are likely to rise the most in 2011. Hot companies like Google and Facebook are priming the local economy, and the high cost of homes means renting is the only option for younger or lower-income workers. That’s pushing up rents.
