A new rent report just released by Rent.com indicates that 95 percent of U.S. states faced significant rent increases over 2021. The cost for one-bedroom units increased by an average of 22.6 percent, while two-bedroom units experienced hikes of around 20.4 percent. Rent.com, an apartment search engine and online marketplace catering to Millennials, is owned by RentPath a Redfin company. In some locations, rental increases for one-bedroom apartments were staggering. Gilbert, Arizona saw a 108.5 percent surge, while Long Beach, California rents are up by 55.7 percent, and Huntington Beach, California, 49.2 percent. Jersey City, New Jersey and Austin, Texas also had rental increases of over 45 percent. For two-bedroom apartments, New York City rents climbed almost 50 percent, followed by Fresno, California, Aurora, Illinois, and Salt Lake City, Utah, all with rents over 40 percent higher. In New York City, which stomached the highest rent increase over the past year, the …
RSS Feed | The Epoch Times