Real Estate

Rent is going up again. Here’s why.

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Market indicators suggest that rent hikes are coming in 2022.

Average rents for a one-bedroom apartment in the booming suburbs of Phoenix, Arizona, have more than doubled year over year, according to data from Apartment Guide. Meanwhile, rents in Manhattan have reached fresh records as life returns to the cities, according to Zumper.

The problems aren’t confined to the usual suspects, however. Rents for single-family homes across the country jumped more than 9% on average in August 2021 from the prior year, according to a report from the analytics firm CoreLogic.

Rents are moving fastest in the buzzy enclaves across the South and West. For Maria Arredondo, a teacher based in Austin, Texas,…



Source cnbc.com

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