National rent is over $2,000 per month for the first time in U.S. history

Posted on AllSides June 16th, 2022
From The Center
Gerry Broome, Associated Press

For the first time in U.S. history, the median rent cost nationwide surpassed $2,000 per month in May, according to a report done by Redfin.

The news: CNN reports that rent is climbing fastest in Sun Belt cities.

In Austin, Seattle and Cincinnati, rent has grown by over 30% in the last year, per NPR. In Austin, Texas, asking rent surged by 48%, the largest increase in a metro area that Redfin has on record.

Even in cities that were formerly known as “affordable,” average rent prices are over $2,000....

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