Rents across the United States have been increasing over the past several months, adding economic pressure on millions of households. In January 2022, rent for 0–2 bedroom properties rose by 19.8 percent year-on-year, according to a report published by Realtor on Feb. 22. This was the eighth straight month in which the rent for these properties grew by double digits. In December, rents for 0–2 bedroom properties had risen by 19.3 percent year-on-year. The median rent in America’s 50 largest metros climbed to $1,789 in January. The monthly mortgage cost of a starter home in the 50 largest metro areas rose by 11 percent year-on-year to $1,867 in January. When compared to renting, buying a home was more affordable in 26 of the 50 largest metros. In markets where buying is favored, purchasing a home was roughly $323 per month cheaper than renting. Rent for the entirety of 2021 was …
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