How Rising Rent Prices Will Displace Millions of Americans
- Author
- Things Have Changed
- Published
- Mon 23 May 2022
- Episode Link
- https://www.thc-pod.com/episode/how-rising-rent-prices-will-displace-millions-of-americans
As cities come back to life with the influx of people returning from their COVID getaways, the rise of rent prices are hurting us all. Some cities are even seeing 60% rent increases year-over-year.
Just when we thought inflation was going to come under control with the Fed rising rates, we might have been too optimistic. Rent or housing on average is the largest expense an American has on a monthly basis. Even an incremental rise in housing expenses could mean displacement or a serious re-designing of your overall budget.
On Things Have Changed Podcast, we’re going to do a series related to housing - one of your largest financial burdens on a monthly basis. On today’s episode, we’re going to talk about how Rent could displace millions of Americans.
According to rent.com, this is where rents are rising:
2 Bedroom Apartments
- Chandler, AZ (+68.6 percent)
- Miami, FL (+59 percent)
- Portland, OR (+51.8 percent)
- Austin, TX (+50 percent)
- Philadelphia, PA (+47.8 percent)
- Tacoma, WA (+46.6 percent)
- Salt Lake City, UT (+46.5 percent)
- Nashville, TN (+45.4 percent)
- Little Rock, AR (+45.2 percent)
- Jersey City, NJ (+41.2 percent)
These are the Americans cities that have gotten cheaper, according to rent.com:
2 Bedrrom Apartments
- Shreveport, LA (-18.7 percent)
- Wichita, KS (-18 percent)
- Toledo, OH (-16.4 percent)
- Indianapolis, IN (-12.1 percent)
- Scottsdale, AZ (-11.5 percent)
- Anaheim, CA (-10.7 percent)
- Arlington, TX (-10.5 percent)
- Cleveland, OH (-10.5 percent)
- Kansas City, MO (-9.1 percent)
- New Orleans, LA (-8.3 percent)
Some interesting stories:
