{"id":20164,"date":"2022-03-10T13:33:05","date_gmt":"2022-03-10T13:33:05","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=20164"},"modified":"2022-03-10T13:33:08","modified_gmt":"2022-03-10T13:33:08","slug":"americans-fear-even-higher-rental-costs","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/americans-fear-even-higher-rental-costs\/","title":{"rendered":"Americans Fear Even Higher Rental Costs"},"content":{"rendered":"\n

Americans Fear Even Higher Rental Costs<\/p>\n\n\n\n

Rents have been climbing higher and higher, and Americans have felt it in their wallets. A record number of Americans say they expect rents will rise even more over the next year as well, according to a newly released Fannie Mae survey.<\/p>\n\n\n\n

Sixty-nine percent of respondents said rental prices will rise. Consumers expect rents to increase by 7.1% over the coming year.<\/p>\n\n\n\n

\u201cPersistent increases in asking rents will eventually push up the average rent of the entire stock of units on the market,\u201d the Federal Reserve Bank of San Francisco wrote in an economic brief last month.<\/p>\n\n\n\n

The median rent for a one-bedroom apartment rose to an all-time high in February, according to Zumper\u2019s National Index.<\/p>\n\n\n\n

The National Mortgage News reports that rents can be a lagging indicator in the Bureau of Labor Statistics\u2019 consumer price index. Most renters don\u2019t see a change until their lease is renewed or they relocate. So many tenants may not have yet experienced the worst of the hikes in asking prices, they note.<\/p>\n\n\n\n

Rents in New York jumped 33% between January 2021 and January 2022, according to data from the online listing site Apartment List. That is nearly double the national rate and the highest increase of the 100 largest cities tracked by Apartment List.<\/p>\n\n\n\n

\u201cWe\u2019re seeing that rents have returned and basically surpassed where they were pre-pandemic,\u201d Nancy Wu, an economist with StreetEasy, a real estate website, told The New York Times<\/em>.<\/p>\n\n\n\n

Nationwide, rents rose nearly 18% in that period, according to Apartment List\u2019s data. Researchers found that even cities that didn\u2019t see a significant decline early in the pandemic, such as in Tampa, Fla., and Phoenix, have still seen large jumps in rents.<\/p>\n\n\n\n

Many renters may be aspiring home buyers. But they may be feeling priced out there, too. Home prices have been rising by double-digit percentages over the past year. Forty-six percent of consumers recently surveyed in February said they believe home prices will continue to rise over the next 12 months, and 67% expect mortgage rates to increase as well, according to a separate Fannie Mae consumer sentiment survey<\/a>. Source:\u00a0\u201cRecord Share of Americans say Rents Will Keep Rising This Year<\/a>,\u201d National Mortgage News (March 7, 2022) and \u201cRents Are Roaring Back in New York City<\/a>,\u201d The New York Times (March 7, 2022)<\/p>\n\n\n\n

\u00a9National Association of REALTORS\u00ae
Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"

Americans Fear Even Higher Rental Costs Rents have been climbing higher and higher, and Americans have felt it in their wallets. A record number of Americans say they expect rents will rise even more over the next year as well, according to a newly released Fannie Mae survey. Sixty-nine percent of respondents said rental prices … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-20164","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nAmericans Fear Even Higher Rental Costs - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/americans-fear-even-higher-rental-costs\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/americans-fear-even-higher-rental-costs\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/americans-fear-even-higher-rental-costs\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Americans Fear Even Higher Rental Costs\",\"datePublished\":\"2022-03-10T13:33:05+00:00\",\"dateModified\":\"2022-03-10T13:33:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/americans-fear-even-higher-rental-costs\\\/\"},\"wordCount\":395,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/americans-fear-even-higher-rental-costs\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/americans-fear-even-higher-rental-costs\\\/\",\"name\":\"Americans Fear Even Higher Rental Costs - 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