No. 23 Biggest Rent Hike: Naples-Marco Island, Fla.

Annual increase: 5.8%
Average monthly rent: $804
Vacancy rate: 10.5% (12.4% in 2009)
Average concession: -14%

Unsurprisingly in Naples-Marco Island, which is home to some of the most expensive real estate in Florida, rental prices aren't cheap. Even though home prices continue to fall and the foreclosure rate is a high 5.46 percent, rental prices increased nearly 6 percent. Vacancies fell to 10.5 percent, which is still far above the equilibrium level, show AXIOMetrics data, and the value of concessions dropped to 14 percent in the fourth quarter compared with 18 percent a year earlier. Despite a high unemployment rate of about 11.5 percent in December, according to BLS estimates, the rent level rose last year due to supply tightening.

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