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Inflation Hits Renters: 11% Overall Rent Increase in 2021

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Price increases for single family home rentals far outpaces apartment rents (+26% vs. +1%), driving the overall rental market in 2021.

Press Release

Jan 3, 2022 06:00 PST

Dwellsy analysis of its extensive rent data shows just how hard renters were hit by rent inflation in 2021.

“American renters saw an 11% increase in median asking rent from January to December of 2021,” said Jonas Bordo, CEO and Co-Founder of Dwellsy. “In a normal year, a 3-4% increase is typical, but we saw 3X that in 2021. That’s an extra $165 that renters have to spend each month.” 

Key findings from the analysis:

  • Rent prices went up 11% in 2021, 3X the normal rate
  • Rent inflation was particularly high in single-family home rentals: up 26% 
  • Apartment rent inflation was modest: up 1%

The Covid pandemic its unique impact on housing demand…

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