Looking for an apartment or house to rent can be stressful.
Rental prices have rebounded well above their pandemic lows and are now among the major inflation pain points for American consumers, along with food and gas prices. Several factors have contributed to the rising rents, including low housing inventories. It is a vicious cycle: less inventory drives up home prices and results in more potential homebuyers opting to rent, which in turn drives up rental prices.
Take New York City as an example. Data provided by StreetEasy shows a dramatic rise in its housing market. As of February, Manhattan rents are up 36% year over year, with rents up over 15% in the outer boroughs of Brooklyn and…