These are the Cities with the Highest Rent Growth Rates in the U.S.
Rent has jumped nearly 20% over the past two years taking the average rent to a record high of $1,901. The cities leading this all time high are Miami, Los Angeles and Riverside.
According to Smart Cities Dive, young people forming households, eviction moratoriums expiring, a tight homeownership market and people moving to new areas have pushed rent prices to all-time highs. The result of these increases is that rent costs hit 29.7% — near the advised income ratio — and stretching affordability in the process.
