As landlords begin to bounce back from their pandemic struggles, rent is rising across the country. The median rent nationwide in January 2022 was $1,789 per month according to a report from Realtor.com. This number represents an increase of 19.8% year-over-year. When comparing rent costs vs. home prices, rental appreciation exceeded home price growth among every size of rental unit. A two-bedroom rental increased by 19.2%, while a two-bedroom home only increased 11% last year. Buying a home may very well be a more affordable option depending on where you are currently living.
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