The national median for rent was $1,792 last month. That’s a 17% jump from a year ago, marking double-digit increases for studio apartments, one bedroom and two bedrooms.
That’s a 17% jump from a year ago, marking double-digit increases for studio apartments, one bedroom and two bedrooms.
February’s new high makes the typical apartment $283 more expensive each month than it was in 2020, before the coronavirus pandemic.February was also the 7th straight month of double-digit percentage increases after rentals were cratered in some of the biggest cities during the pandemic. The website’s chief economist said rental prices will likely remain high but that some cooling is expected.Copyright 2022 CNN Newsource. All rights reserved.
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National median cost of rent jumped 17% since last year, hitting a new recordThe cost of monthly rent reached a new high in February, with the typical apartment now $283 more expensive each month than it was two years ago, before the onset of the pandemic.
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