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Commodity inflation is not the only concern Americans have as they are returning to normal after the economic ravages left by the pandemic, now they will have to pay a greater amount of rent according to a new study.
According to data from the Realtor portal, the price of rents has gone up and is reaching the previous levels of the pandemic . In 44 of the 50 largest metropolitan areas in the country, rents have exceeded the level they had before the health crisis. This situation can put many Americans in a bind.
According to the site’s report, nationally, the average rental cost hit a record $ 1, 575 dollars in June , that is, an increase of around 8% compared to the previous year, a situation that is setting off the alarms in people who rent a property.
It is reported that real estate companies reported that the increases occur in small cities, driven, in large part, by workers who fled urban areas during the pandemic in search of more security, space or more privacy .
According to experts, this readjustment has caused prices to skyrocket because there is greater demand. Previously, rental prices in small cities were not high compared to highly populated cities across the country, but this trend is changing everything.
An example of what is pointed out in the study is Riverside, California, a city that has registered one of the largest increases in the last year. Official figures indicate that rent increased by almost a 10% for a study and a 32% for a two bedroom apartment.
Realtor stated that comparatively a two bedroom apartment would cost $ 700 dollars or $ 700 dollars more in Los Angeles than in Riverside, which makes said small town more attractive to Angelenos, who can now work remotely since the start of the pandemic.
Social mobility is the The main reason why the costs of rents have risen throughout the country. The truth is that despite the fact that prices can be variable, depending on the state and the city, practically the amounts of the rent have an upward trend, a situation that is complicated for those who earn the least.
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