US Rent Inflation

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