Cities with the Highest Rent Spikes in 2012

Home prices might still be recovering, but the price of rentals has skyrocketed in these cities.
Houston, TX

Year-over-year rise: 16.8%
Vacancy rate: 3%
Median monthly rent: $1,270.50
They say all things are bigger in Texas. And now Texans can include what they pay for rentals.

Oakland, CA

Year-over-year rise: 11.6%
Vacancy rate: 1.7%
Median monthly rent: $2,017.50
Oakland saw rents surge, partly fueled by renters priced out of San Francisco, which is still booming with tech talent.

Miami, FL

Year-over-year rise: 10.8%
Vacancy rate: 4%
Median monthly rent: $1,900
The Sunshine State suffered more than the rest of the country during bust of the housing market. Record foreclosures and a weak economy have left many unable to qualify for a decent mortgage, making renting the next best option.

Denver, CO

Year-over-year rise: 9%
Vacancy rate: 2.4%
Median monthly rent: $1,244
In a city where construction of apartments hasn't kept up with demand, rents surged more here than in most U.S. cities.

Philadelphia, PA

Year-over-year rise: 8.9%
Vacancy rate: 2.7%
Median monthly rent: $1,467
The City of Brotherly Love isn't as kind to renters these days, where prices climbed more than its bigger neighbor, New York City.