Having somewhere to live is one of life’s essentials. In fact, it is the bedrock of the American dream.
Sadly, due to poor policies from our government, many Americans have been forced into renting instead of home buying. Now, even renting is getting expensive.
The median rent cost in the United States is now $2,000 – this is the first time it has ever been that high.
NPR: Rents across U.S. rise above $2,000 a month for the first time ever
— Election Wizard 🇺🇸 (@ElectionWiz) June 11, 2022
A new report from Redfin shows that nationally listed rents for available apartments rose 15% from a year ago. And the median listed rent for an available apartment rose above $2,000 a month for the first time.
Rents are up more than 30% in Austin, Seattle, and Cincinnati. In Los Angeles the median asking rent is $3,400. Even in formerly affordable cities such as Nashville it’s now $2,140, up 32% from last year.
Fairweather says homebuilders built fewer homes in the decade starting in 2010 than in any 10-year period since the 1960’s. “So I think it’s going to take at least another decade to dig ourselves out of this hole. ” She says states changing zoning laws to allow for smaller, more affordable homes built closer together would help.
The Palmieri Report is a Pro-America News Outlet. The Palmieri Report is dedicated to giving people the truth so that they can form their own informed political opinions.
Follow us on social media:
Listen to our Daily News Podcast!