It’s gotten a lot harder to make the rent.
Rents have been soaring across the country, even outpacing home values, according to a recent Zillow report. Some areas are facing a particularly harsh reality: In San Francisco, renters have seen a nearly 15% yearly increase, and Denver tenants have faced an 11.6% rise.
And it’s not just a big city problem.
“Places that were more traditionally affordable are growing more quickly,” said Skylar Olsen, senior economist at Zillow.
The reason? A shortage of available rentals.
“Vacancy rates are at very low levels, which continues to push rents higher,” said Andrew Jakabovics, senior director, Policy Development & Research at Enterprise Community Partners.
Dispatches From The Front 