Think rent is rising fast? It's worse than you think (and inflation might be too)

Abstract

Annual rental costs for new tenants jumped from 4.3% in July 2021 to 11.1% in March 2022. Annual inflation in shelter costs stood at 5.4% in May, the highest level since 1991. For existing tenants, inflation was lower and grew at a slower pace over that period. For residents of owner-occupied units, the trend was similar. BLS is expected to be released in June. Almost two-thirds of U.S. inventor-to-be-in-a-half of Americans live in homes they are in their homes they’re in their own homes they're in their homes they own. It's only a matter of time before the higher inflation rate spills over into renewals as well, says David Wessel.