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:

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  • 10. Warren-Troy-Farmington Hills, Michigan

    Year-over-year change in rental prices: 10.7 percent

  • 9. Denver, Colorado

    Year-over-year change in rental prices: 10.9 percent

  • 8. Middlesex County, Massachusetts

    Year-over-year change in rental prices: 11 percent

  • 7. Oakland, California

    Year-over-year change in rental prices: 11.2 percent

  • 6. Raleigh, North Carolina

    Year-over-year change in rental prices: 11.4 percent

  • 5. Colorado Springs, Colorado

    Year-over-year change in rental prices: 13.7 percent

  • 4. Columbus, Ohio

    Year-over-year change in rental prices: 14.1 percent

  • 3. San Francisco, California

    Year-over-year change in rental prices: 14.7 percent

  • 2. Edison-New Brunswick, New Jersey

    Year-over-year change in rental prices: 14.8 percent

  • 1. Fort Worth, Texas

    Year-over-year change in rental prices: 15.5 percent