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Rents are soaring in many U.S. cities as the economy rebounds, squeezing the budgets of tenants who also face increased risk of eviction after courts overturned a pandemic-era ban.
There’s no single indicator that captures a complex national picture, as Covid-19 drove major shifts in where people live and work. Still, data point to tight markets in much of the country.
The median monthly charge on a vacant rental jumped by $185 in March from a year earlier, according to the U.S. Census Bureau. A national index compiled by Apartmentlist.com shows that rents rose 1.9% in April alone, the most in data going back to 2017.
