Amazon's second headquarters will drive up housing costs — here's exactly how much your rent will increase (AMZN)

Some cities will be hit harder than others, according to a new analysis by Zillow.
In Nashville, rents would rise 3.3% next year, about four times faster than currently projected. That translates into about $49 more monthly on Nashville's median rent of $1,497.
Amazon's second headquarters will drive up housing costs. In Los Angeles, rents would rise 4.9%, or $52, on top of the expected increase of 3%, or $82, for those paying the city's median rent of $2,746.

Amazon is expected to bring skyrocketing housing costs along with the thousands of high-paying jobs it's promising to the city it selects as the home of its second headquarters.

If the new campus is built in Nashville, rents would rise 3.3% next year — about four times faster than currently projected, according to a new analysis by the real estate site Zillow. That translates into about $49 more monthly on Nashville's median rent of $1,497.

In Los Angeles, rents would rise 4.9%, or $52 monthly, on top of the expected increase of 3%, or $82 monthly, for those paying the city's median rent of $2,746.

The increases in rental costs will kick off next year, assuming Amazon starts hiring for its second headquarters in 2019, a Zillow spokeswoman told Business Insider.

Here's how much annual rental costs will increase for each city next year if it wins the contest for Amazon's second headquarters. The dollar value shown is how much rent will increase on an annual basis, according to each city's median rent.

Atlanta: 3.6% ($602 increase)

Median rent: $1,394

Rent forecast in 2019: 3.2% ($45 more monthly)

Rent forecast with HQ2: 3.6% ($50 more monthly)

Austin: 1.5% ($303 increase)

Median rent: $

Rent forecast in 2019: % ($12 more monthly)

Rent forecast with HQ2: % ($25 more monthly)

Boston: 5% ($1,423 increase)

Median rent: $

Rent forecast in 2019: % ($85 more monthly)

Rent forecast with HQ2: % ($119 more monthly)

Chicago: -0.1% ($20 decrease)

Median rent: $

Rent forecast in 2019: % ($3 less monthly)

Rent forecast with HQ2: % ($2 less monthly)

Columbus: 2.4% ($379 increase)

Median rent: $

Rent forecast in 2019: % ($14 more monthly)

Rent forecast with HQ2: % ($32 more monthly)

Dallas: 3.1% ($597 increase)

Median rent: $

Rent forecast in 2019: % ($37 more monthly)

Rent forecast with HQ2: % ($50 more monthly)

Denver: 5.9% ($1,449 increase)

Median rent: $

Rent forecast in 2019: % ($74 more monthly)

Rent forecast with HQ2: % ($121 more monthly)

Indianapolis: -0.2% ($29 decrease)

Median rent: $

Rent forecast in 2019: % ($2 less monthly)

Rent forecast with HQ2: % ($2 less monthly)

Los Angeles: 4.9% ($1,615 increase)

Median rent: $

Rent forecast in 2019: % ($82 more monthly)

Rent forecast with HQ2: % ($135 more monthly)

Miami: 4.2% ($938 increase)

Median rent: $

Rent forecast in 2019: % ($47 more monthly)

Rent forecast with HQ2: % ($78 more monthly)

Nashville: 3.3% ($593 increase)

Median rent: $

Rent forecast in 2019: % ($13 more monthly)

Rent forecast with HQ2: 3.3% ($49 more monthly)

New York: 0.7% ($202 increase)

Median rent: $

Rent forecast in 2019: % ($24 less monthly)

Rent forecast with HQ2: % ($17 more monthly)

Philadelphia: 0.8% ($152 increase)

Median rent: $

Rent forecast in 2019: 0% ($6 more monthly)

Rent forecast with HQ2: % ($13 more monthly)

Pittsburgh: 2.9% ($370 increase)

Median rent: $

Rent forecast in 2019: -% ($11 less monthly)

Rent forecast with HQ2: % ($31 more monthly)

Raleigh: 4.3% ($741 increase)

Median rent: $

Rent forecast in 2019: % ($34 more monthly)

Rent forecast with HQ2: % ($62 more monthly)

Washington: 1.1% ($283 increase)

Median rent: $

Rent forecast in 2019: % ($11 more monthly)

Rent forecast with HQ2: 1.1% ($24 more monthly)

Toronto: 1.6% ($198 increase)

Median rent: $

Rent forecast in 2019: % ($14 more monthly)

Rent forecast with HQ2: % ($16 more monthly)

Amazon's second headquarters will drive up housing costs — here's exactly how much your rent will increase (AMZN)

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