Rental Prices Continue To Soar In Most U.S. Cities

07/05/2012 05:55 pm ET | Updated Nov 16, 2012

While recent data shows that the housing market is making a gradual recovery, booming rental prices are stealing the spotlight.

Rents are up 5.4 percent from a year ago across the country, according to the latest data from Trulia, a residential real estate website. Of the 25 largest rental markets, Las Vegas was the only area to not see an increase year-over-year.

Buying a home is now cheaper than renting one in most U.S. cities. But as lenders tighten their borrowing requirements, it's tough for many wannabe homebuyers to get a mortgage.

The uptick in demand for rental homes is making rental prices skyrocket.

Here are the top 10 places where rents are soaring:

10 Places Where Rents Are On The Rise

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