apartment in the United States? Nationwide rent prices have skyrocketed in the two years since the COVID-19 pandemic, and the cost for renters remains high in August. "Rent prices are definitely up, and up pretty significantly," Rent.com researcher Jon Leckie told FOX Television Stations this week.
The average cost of a one-bedroom in August 2022 is $1,769, a 39% increase from this time last year, according to Rent.com’s monthly report.
Meanwhile, the nationwide average monthly cost for a two-bedroom rental in August is $2,105, a 38% increase from a year ago.
Rents have increased along with rising home prices, Leckie said. As more find themselves priced out of home buying, there’s more upward pressure on the rental market. "I think what we’re seeing is a peak in the housing market where people are saying, ‘It’s too expensive, I can’t afford it.