Rent Jumps By 17%, Hits New Record Nationally

(Santa Clara, CA) — The cost of rent across the nation is hitting a new record high. A report from Realtor-dot-com found the median rent in the U.S. in February was just over one-thousand-700-dollars a month, up 17-percent from a year ago. The report said a typical apartment is nearly 280-dollars more expensive per month than it was two years ago. Cities dealing with the largest increases of 23-percent or more include Miami, San Diego, Phoenix and Austin, Texas. Cities with the smallest annual spike in rental prices of six-percent or less were Cleveland, Minneapolis and Detroit.