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If you're looking for an apartment, get ready to pay: Rents are 39% higher than a year ago

1 month ago   |   By Business Insider

An upset couple. Getty Images.
In July, the median apartment rent in the US climbed 39% from 2021.
For many renters, it now exceeds what financial experts recommend spending on housing.
As rents and home prices climb, Americans have fewer affordable housing options.
Rents are soaring - and that means even more Americans will have a difficult time affording housing. According to rent.com , the US median rental price for a one-bedroom unit climbed to $1,770 in July, spiking by 39% from just one year prior. The price of two-bedroom unit also climbed 38.3% year-over-year to $2,106. For...
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