Richard Stein – Realtor®, Douglas Elliman, GREEN, SFR, CBR, eCertified®

Local Agent, Worldwide Marketing – Douglas Elliman Real Estate formerly Prudential Douglas Elliman Real Estate

U.S. housing rents hit record-high average of $1,405 per month

By RACHEL LAYNE MONEYWATCH

Think your rent is pricier than ever? You may be right.  

The national average rent reached an all-time high of $1,405 in June, a 2.9 percent increase from a year earlier, according to data from Yardi Matrix.

It’s the latest sign of a U.S. economic boom that’s pushing prices higher, just as job growth breaks another record and the Federal Reserve says it’s starting to get concerned the economy may overheat.

Of the 250 biggest U.S. cities, 88 percent saw increased………………………….

FULL STORY CBS NEWS

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