Rent Rose Just 2% in January. Here's Why

In addition, the median rent price in the U.S. fell to $1,942, the lowest it's been in nearly a year. That 22.5% increase has priced many households out of the market, and people who might have made a move this year are waiting until prices become more reasonable and they don't have to drain their bank accounts to keep a roof over their heads. And the further we move from the initial stages of the pandemic, the more the supply chain opens up, bringing builders the supplies they need to build new communities.

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