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Rentals on the Rise?

Some hard news for renters: Not only are rental vacancy rates down overall in the U.S., making competition more heated, but the cost of renting went up in October. While the increase in rent went up in the country's 100 largest metropolitan areas by about 5 percent, in Philly the increase was 8.6 percent. That puts us in the list of top 10 metros with largest year-over-year rent increases. Oh boy. What fun. [Trulia]