U.S. Home Rental Prices Explode

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.