According to the Bureau of Labor Statistics’ Consumer Price Index (CPI), rents rose 3.8% across the country last year. But one state in particular scored six of the top ten cities with the highest average rent increase. According to Axios, a few factors explain the increase. More workplaces allowing remote work has pushed workers to warmer climates, and with more housing demand some residents are choosing to rent instead. Furthermore, many residents of higher-tax restrictive states are choosing the low taxes and freedom of states like Florida. (Data: Axios; Chart: TheHustle.co)
Jeffrey Cerny