📈 US Rent Prices Are Skyrocketing! 🏡💸
The cost of renting a home in the US has reached new heights, making it increasingly challenging for many households. Here are the key details:
- 🏷️ Median Asking Rent:
In Q2 2024, median asking rent prices hit an all-time high of $1,481/month.
- 🚀 56% Increase Since 2019:
According to the US Census Bureau, median asking rents have surged by a staggering 56% since 2019.
- 💰 Rent as a Share of Income:
Rent now consumes about **29%** of the average monthly disposable personal income, up from 24% in 2019.
- ⚖️ Income vs. Rent:
Rents have been rising much faster than post-tax household income, making renting increasingly unaffordable for many.
Takeaway:
Even renting a home is becoming a luxury in today's market. Be aware and plan accordingly. 🏡
