Monthly rental costs increased dramatically in 2021 in response to rent freezes under government covid rules. This makes renting a really bad deal for low-income folks.
Apartment rent in and near
expensive large cities is closer to the $1400 to $2500 range.
Year Monthly Rent %change
2023 1180 8.96
2022 1083 9.07
2021 1191 8.67
2020 1096 3.20
2019 1062 3.81
2018 1023 4.18
2017 982 3.44
2016 949 2.26
2015 928 0.87
2014 920 1.77
2013 904 1.69
2012 889 2.07
2011 871 1.57
2010 841 7.84
2005 604 0.07
2000 602 1.62
1995 655 9.31
1990 447 .069
1985 432 15.6
1980 243 3.03
1975 211 19.1
1970 108 5.21
1960 71 6.90
1950 42 5.56
1940 27 N/A
https://ipropertymanagement.com/research/average-rent-by-year
Comments
Renting is not sustainable. Single family home ownership allows families and individuals to pay off their mortgages and live out retirement years without a house payment. Families use home ownership to build wealth.
Our US economy is also not sustainable. Monthly Rent in 1940 averaged $24. Monthly Rent in 2023 is averaging $1180. The US Federal Government needs to stop spending on dumb things, pay off the National Debt and hold inflation to 1%.
Norb Leahy, Dunwoody GA Tea
Party Leader
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