Rent continues to increase: Here are regions, states where it’s changed the most

Inflation rose faster than expected in March as an increase in costs kept prices painfully high for millions of Americans.Rent was one of the categories in which prices continued to increase, according to The Labor Department’s consumer price index . Rent costs rose 0.5% for the month and are up 5.7% from the same time last year. RELATED: March inflation breakdown: What prices are rising the fastest?Research from Rent.

Markets were slightly down here in March, as oversupply and job relocations amid pandemic-era growth have caused a cooling, Rent.com said.The South: Where rent is the second most affordable. Asking rents have gone down slightly, in part because supply continues to be delivered in the region, Rent.com said.The Midwest: Where rent is most affordable in the nation, though it’s also the area that has recorded the largest increase year over year. Asking rents in the Midwest rose by 5.

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