Rent Increases by Nearly 20% Across the US: What Renters Need to Know

Overall, rent prices are growing faster than incomes, leading to affordability issues for renters across the country.

Financial experts typically recommend spending no more than 30% of your monthly income on rent.

But rapid increases in consumer prices combined with rising rents can make that a challenge for the average American.

But following the 30% rule can be challenging when rents are going up in almost every major city.

That said, it’s ultimately up to you to decide what your financial priorities are.