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Suburban Rents Are Soaring, Leaving US Renters With Few Cheap Options

The price advantage over cities has declined by 53% since 2019, while costs are soaring everywhere.

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For renters encountering soaring housing costs in US city centers, decamping to the suburbs no longer offers much of a reprieve.

The price advantage of renting in the suburbs versus downtowns has shrunk by 53% from three years ago, according to a report Wednesday from brokerage Realtor.com. While suburban renters used to save 12% compared to city dwellers in July 2019, they now pay only 5.8% less.