Rents hit another all-time high

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Rents hit another all-time high
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The national median price of a one-bedroom rental apartment in January was up 12% year-over-year, to $1,374 — an all-time high, per Zumper, an online apartment rental site.

The national median price of a one-bedroom rental apartment in January was up 12% year-over-year, to $1,374 — an all-time high,Inflation is taking a bigger bite out of people's paychecks these days not only in food and gasoline, but also in housing costs.Zumper, which has been tracking rental price data since 2014, released data this week that showed staggering increases in rental prices.

"These still-rising prices also reflect a pre-existing housing shortage that will likely continue to push rent up in 2022."Last January, the year-over-year rent increase was 0.6% over 2020; the prior year, it was 0.3%.While New York claims the highest rents, Boston is poised to overtake San Francisco for the #2 slot in the coming months, Zumper says.

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