Yet despite five consecutive months of moderate, single-digit rent increases, renters still face big rent bills. That’s because, on a longer-term view, the national median rent price increased almost 20 percent (19.80) from December 2020 to December 2022.<\/p>\n
Even though experts agree that rent growth is coming more in line with normal levels, a review of the top 50 cities by inventory counts reveals just how much rent prices have grown from pre-pandemic levels across the nation.<\/p>\n
Prices in the South and West increased the most<\/h2>\n
Rising rent prices affected the whole country. But renters in the southern and western regions of the United States saw their rent prices climb even higher than 19.80 percent during the two-year period from December 2020 to December 2022.<\/p>\n
Cities in the geographic South (as defined by the U.S. Census<\/a>)saw the largest rent increase in this survey. Rents in the region shot up 24.34 percent over two years. Rent prices in the West increased by 22.42 percent.<\/p>\n