Rents in America’s 50 most populated areas rose an average of 19.3 percent compared to December 2020 and 2021.
The rent increases in question are valid for two-room and smaller apartments.
Rents in Miami have increased by 49.8 percent, which is above average.
In other cities in Florida, the increase is over 25 percent in Tampa, Orlando, Jacksonville and San Diego, Las Vegas, Austin and Memphis.
The increase in rents is one of the factors that increase the record level of inflation in the country.
Economists are concerned about the effect of the increase in rents on inflation. Increases in rental contracts affect the consumer price index, a data used to measure inflation.
Inflation in the US is 7.5%, the highest in the last 40 years.
While some economists expect inflation to decrease once the problems in the supply chain caused by the epidemic pass, it is commented that rent increases may keep inflation at a high level until the end of the year.
Experts are of the opinion that the high increase in rents is caused by many factors.
Some of these are the housing shortage across the country and the undiminished demand of the young adult population.
According to official data, the rate of vacant flats that can be rented in America fell to 5.6 percent in the last quarter of 2021. This is the lowest rate since 1984.
Meanwhile, homes for sale are also at record lows. This causes house prices to rise sharply and some tenants remain as tenants even though their incomes are high.
Only two states in America, California and Oregon, have rent control laws. In some states, such as Arizona, restricting what landlords want is limited.