Rent up 10 percent nationwide this year

Rent spikes seen nationwide
Posted at 7:06 AM, Nov 05, 2021
and last updated 2021-11-05 08:12:00-04

Rent expenses continue to soar across the nation, eating a larger share of people's incomes.

A report by showed households with a median rent of $1,179 used 30.3 percent of their income to pay for it.

That's up nearly a full percentage point from last year.

Moody's reports the average rent in the United States is more than $1,500 a month and will increase more than 10 percent this year.