U.S. Home Rental Prices Explode

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With the economy recovering from the Great Recession, many are still seeing the effects from the housing market crash that sparked it. According to new reports by real-estate data firm Zillow, the average rental price of U.S. apartments has seen a huge spike in major cities. Within the last year, the price of apartment rentals in San Francisco has jumped 15.4 percent to a median cost of $3,031 a month. Denver rents were up 10.5 percent to $1,817, and even Kansas City spiked to $1,204, an 8.5 percent increase. Since 2000, rental prices have risen an average of 52 percent nationally, while renters’ incomes have only increased 25 percent.