Average Rent in the United States , Climbs to $2,000 Per Month.
A recent analysis of rent prices in the United States from Redfin shows housing prices have increased 15% in the last year.
For the first time in the nation's history, apartment rental prices have risen above an average of $2,000 a month.
In Austin, Seattle and Cincinnati, rent prices have soared 30%.
In Austin, Seattle and Cincinnati, rent prices have soared 30%.
In Austin, Seattle and Cincinnati, rent prices have soared 30%.
In Los Angeles, the average rent is now $3,400.
Historically affordable cities such as Nashville have experienced a boom in rent prices, soaring 32% in the last year.
Housing is getting less affordable for everyone at every level.
, Daryl Fairweather, chief economist for Redfin, via NPR.
Experts say in the decade following the country's last housing crisis, the building of new homes subsided.
Therefore, a lack of supply has increased prices, making it difficult for many to consider buying a home.
As many Americans are left to rent instead of buying a home, rental prices have also experienced ballooned rates.
Rents are going up just as fast as home prices are.
, Daryl Fairweather, chief economist for Redfin, via NPR
