If you think buying a house has become too expensive, try renting a home or apartment. Fast-rising home prices have investors seeing dollar signs, and renters digging deeper into their wallets.
Rents for apartments rose 1.3% in April, according to RealPage, which is the fastest pace for a single month in about a decade. And the jump comes right at the beginning of prime leasing season, as the majority of household moves occur between April and September.
In the San Francisco Bay Area, which saw rents plummet amid the coronavirus pandemic, renters are coming back as vaccinations encourage people to return to cities. Rents finally began to rise again in May, although they were still down…