{"id":87945,"date":"2022-12-30T16:15:00","date_gmt":"2022-12-30T20:15:00","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=87945"},"modified":"2023-01-05T16:55:33","modified_gmt":"2023-01-05T20:55:33","slug":"rent-increases-due-to-inflation","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/rent-increases-due-to-inflation\/","title":{"rendered":"Rent Increases Due to Inflation: What Can Renters Do?"},"content":{"rendered":"\n

Why is rent inflation a problem? What’s causing the increase? If your rent increases due to inflation, what are your options?<\/p>\n\n\n\n

Since the start of the pandemic, rent inflation\u2014a general increase in rent prices due to inflation\u2014has plagued renters in the U.S. and around the world. Many renters (especially low-income ones) are cash-strapped, saving less, and at risk of getting evicted.<\/p>\n\n\n\n

Keep reading to learn more about inflation-related rent increases, including what to do if you’re a renter.<\/p>\n\n\n\n\n\n\n\n

What Is Rent Inflation?<\/h2>\n\n\n\n

Since the early pandemic, rent inflation\u2014a rise in rent prices\u2014has plagued renters in the U.S. and beyond. Some are calling it a \u201cglobal rental crisis.\u201d<\/a> In the U.S., rent increases due to inflation have reached an all-time high\u2014rents have risen by an average of 6.3% over the past year\u2014the highest increase in the past 35 years.<\/a> Rent hikes are highest in Southern cities popular with retirees: For instance, rents in Miami and Tampa are 50% higher<\/a> than pre-pandemic rents. Furthermore, rent inflation exceeds 15% in several East Coast and Midwestern cities<\/a> such as New York City and Cincinnati.<\/p>\n\n\n\n

Why Is Rent Inflation a Problem?<\/h3>\n\n\n\n

In the U.S., rent prices are increasing due to inflation even faster than incomes are<\/a>, leading to problems for renters:<\/p>\n\n\n\n