4 articles | last updated: Jun 11 19:26:58
Data reveals contrasting rental price movements in different parts of the country, with some areas experiencing increases while others see declines.
- Median asking rent in May rose 0.8% year-over-year to $1,653, the highest since October 2022.
- Rents increased significantly in cities like Washington D.C., Cincinnati, and Chicago, with rises over 10%.
- Sunbelt cities such as Jacksonville and San Diego saw notable rent declines, some over 8%.
- High demand and new apartment construction are influencing rent trends, with the Midwest seeing spikes and the South experiencing drops.
- Stagnating rent prices could indicate persistent high inflation, affecting household budgets, especially for lower-income families.
People, Places and Things In This Story
- United States Country in North America
- Midwestern United States Region in the United States of America
- Chicago City in Illinois
- Cincinnati City in Ohio
- Washington Capital of the United States of America
- San Diego City in California
- Jacksonville City in Florida
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- Finance
- Economics
- Geography
- Business