Rents have been rising faster than wages across the United States. Between 2019 and 2023, nationwide rents increased by 30.4%, while wages during the same period rose by 20.2%. This trend has particularly affected large cities like Atlanta, Charlotte, Miami, Phoenix, and Tampa, where the gap between wage growth and rent increases was widest. The median U.S. rent reached $1,987 in March 2024, putting pressure on renters’ budgets and impacting other essential expenses.
US RENTS CLIMBED 1.5 TIMES FASTER THAN WAGES IN LAST FOUR YEARS (Bloomberg)
Rents in most major US metropolitan areas have risen some 1.5 times faster than wages in the last four years, according to an analysis by Zillow Group Inc.
Nationwide, rents climbed 30.4% while incomes… pic.twitter.com/woLvnk4cNr
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