Average Rent in the United States Climbs to $2,000 per Month

Video Credit: Wibbitz Top Stories
Published on June 10, 2022 - Duration: 01:30s

Average Rent in the United States Climbs to $2,000 per Month

Average Rent in the United States , Climbs to $2,000 Per Month.

A recent analysis of rent prices in the United States from Redfin shows housing prices have increased 15% in the last year.

For the first time in the nation's history, apartment rental prices have risen above an average of $2,000 a month.

In Austin, Seattle and Cincinnati, rent prices have soared 30%.

In Austin, Seattle and Cincinnati, rent prices have soared 30%.

In Austin, Seattle and Cincinnati, rent prices have soared 30%.

In Los Angeles, the average rent is now $3,400.

Historically affordable cities such as Nashville have experienced a boom in rent prices, soaring 32% in the last year.

Housing is getting less affordable for everyone at every level.

, Daryl Fairweather, chief economist for Redfin, via NPR.

Experts say in the decade following the country's last housing crisis, the building of new homes subsided.

Therefore, a lack of supply has increased prices, making it difficult for many to consider buying a home.

As many Americans are left to rent instead of buying a home, rental prices have also experienced ballooned rates.

Rents are going up just as fast as home prices are.

, Daryl Fairweather, chief economist for Redfin, via NPR


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