Why Is Rent So Expensive In The US?

Renting a house in the US is so expensive because the average wage in the US is so high.

Housing rents follow wages.

It just so happens that in general American tenants can afford to pay more than, say, Tanzanian tenants and so American landlords charge more than Tanzanian landlords do.

Why are rents so high in the US?

Hint: rising rents are being caused by a number of factors, including lack of affordable housing and an increased desire among millennials and baby boomers for flexibility. Both of these factors, and more, are contributing to a growing demand for rental properties today. Growing demand = higher rents.

Is US expensive to live in?

Most of the US has a cost of living way lower than the major cities in Europe. Orlando FL has a current cost of living about 5% lower than the US average. Ocala is more than 10% lower. America is not vastly more expensive to live in than other highly developed nations, and that is simple truth.

Is it more expensive to rent a house or an apartment?

Renting a house is often more expensive than renting an apartment, but there are a number of advantages to choosing a house over an apartment regardless. You can consider splitting the greater expense by getting additional roommates, as you’ll have more room to share.

Where rents are rising the fastest?

After Phoenix and Las Vegas, the fastest rising rents are in Sacramento, Atlanta, Riverside and Orlando, where rent prices are rising more than 5 percent annually. Overall, the U.S. median rent is $1,545 a month, up 3.2 percent from a year ago.

What to do if you think your rent is too high?

If you know or suspect, that your apartment is rent-controlled and you think your rent is too high, contact your city’s rent control board (if it has one), a local apartment owners association, or even a lawyer who specializes in housing issues.