- According to the Bureau of Labor Statistics (BLS), average rent prices increased nationwide in April by 3.7% (YoY) for the 5th consecutive month.
- Rent inflation is at its highest level since the financial crisis and higher than wage increases (+1.4% YoY).
- Post-crisis, higher rents may be driven by young adults no longer needing roommates and baby boomers downsizing.
- Recent rent increases are attributed to supply for rental housing not meeting demand (shortage of 800K units).
Rental costs continue to surge past incomes – MarketWatch
(05/17/2016)
