Rent Prices Continue To , Soar in the United States.<br />CNN reports that in April, rent prices in <br />the United States reached new heights, <br />and experts say they will not stop there.<br />For the month, the median rent in the U.S. <br />was $1,827, up 16.7% from the year prior.<br />According to a recent report from Realtor.com, average rent prices in the country could be <br />over $2,000 per month by August.<br />Real estate experts believe the surge in rent prices is due to a lack of supply and increased demand.<br />Renters are being left with few options but to meet higher rents and, in some cases... , Danielle Hale, chief economist for Realtor.com, via CNN.<br />... even offer above <br />[the landlord’s] asking price – <br />whether they can afford to or not. , Danielle Hale, chief economist for Realtor.com, via CNN.<br />Some cities in the United States <br />have experienced jaw-dropping <br />increases in rent prices.<br />For example, in Miami, Florida, the <br />median price of a rental is $2,800. <br />That is a $950 increase from 2021.<br />Rents are not only maxing out renters’ housing budgets, but <br />are the biggest strain on their overall finances... , Danielle Hale, chief economist for Realtor.com, via CNN.<br />... even as inflation drives up expenses across the board. , Danielle Hale, chief economist for Realtor.com, via CNN
