No. 2 Biggest Rent Hike: Chattanooga, Tenn.-Ga.

Annual increase: 10.4%
Average monthly rent: $726
Vacancy rate: 4.4% (7.1% in 2009)
Average concession: -1%

Major employers in Chattanooga include schools, Covenant Transport, Erlanger Medical Center, and Blue Cross Blue Shield of Tennessee, according to the city. The area led the state in job growth, due in part to Volkswagen's new Chattanooga plant, which begins production this year and is estimated to create more than 2,000 jobs. The jobless rate fell to an average 8.9 percent last year from 9.4 percent in 2009, according to estimates based on BLS preliminary figures. Rents in parts of south Chattanooga jumped by 13 percent in 2010, according to AXIOMetrics.

 
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