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24/7 Wall St.: 6 Cities Where Rents Are Skyrocketing

1. Edison-New Brunswick, N.J.

Change in rent: +15.6 percent
Change in sales price: -4.7 percent
Price drop from peak: -18.2 percent
Job growth, 1 year: +0.69 percent

Job growth in the Edison-New Brunswick metro area has been modest. Nevertheless, rent in the region jumped a full 15.6 percent in 12 months, by far the largest increase in the country. In the past quarter alone, rent increased 4 percent. Meanwhile, home prices actually fell 4.7 percent, the 11th-largest decrease in the country.

(AP Photo)

More From 24/7 Wall Street:
The States With The Most Homes In Foreclosure
The Ten Most And Least Affordable Cities To Buy A Home
Nine Countries Where Unemployment Does Not Exist

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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