Rents have been going one way over the last year — up. Typical rent in the U.S is about $1,883 per month, $283 per month higher than in February 2020, according to Zillow.
Making matters worse, a spike in mortgage rates is pricing would-be first time home buyers out of the market, and into the rental pool, exacerbating the upward pressure on rents amid ever tighter inventory.
Research compiled by Stessa, a real estate software company, shows the coastal states have the highest rents. Hawaii,…
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