Rents are rising faster at the lower end of the market
Average rents on single-family homes rose by about 3 percent nationally in 2018, according to a report out Tuesday from CoreLogic, up from 2.7 percent in 2017. As it happens, that’s about how much average wages grew during that same period before you factor in inflation. But those increases are lopsided. For the fifth year in a row, rents have increased the most, percentagewise, at the lower end of the market, meaning the people who are getting hit hardest tend to be the ones who can least afford it.
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