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Rents Getting Out Of Control, Typical $100 Monthly Hikes Now $300


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Housing costs now account for a third of the average American’s budget as inflation continues to impact the economy, according to a MarketWatch article published on Feb. 17.

“Over two years, rents have increased by $302 monthly, or 18.41%,” said economic researcher Jon Leckie. “We should’ve seen about a $100 increase in rents over the past two years. Instead, we saw a $300 increase.”

According to the U.S. Bureau of Labor Statistics, both the rent index and the owners’ equivalent rent index rose 0.7% since December, and the index for lodging away from home increased by 1.2% in January. A 0.7 increase in shelter inflation brings housing and rent costs up by 7.9% over a 12-month timeframe.

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