Property rents continue rise in US cities
Rental yields in the top 20 most populated US metro areas increased in 2011, on the back of higher rents and cheaper property prices, according to Hotpads.
Data provided by the national housing search engine shows that rental prices for two-bedroom units increased by 3.75% in 2011 whilst asking prices for the same type of property declined by 1.83%. 
Studio rentals remained the highest growth property with a 7.12% increase over the year, with one and two bedroom rental properties also seeing a price increase of 2.59% and 3.75% respectively, but three bedrooms homes dipped in price by 0.31%.
Based on median listing price, properties in Florida, such as Miami, had some of the most expensive rental listings in the U.S. for two bedroom properties, along with New York, Boston, San Francisco, Los Angeles, and Chicago.
The report says that demand for rental properties should “remain high throughout 2012”. But it also expects to see more people buying homes in Florida and the wider USA, on the back of cheaper asking prices.
It stated: “As the price of homes for sale continues to decline, we believe more people will consider buying over renting. We also predict more foreclosed and long standing for sale properties will re-enter the market as rental units in 2012, which should increase the rental supply and help ease prices. However, if economic conditions extend consumer uncertainty, we may continue seeing would be home owners continue to rent.”
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