The average rent for a typical, single-family home has jumped 3.3 percent in the first half of 2015, according to Bloomberg Business. That means dads and moms are shelling out more than $1,300 per month for housing.
As unwelcoming as the statistic is, it is half of what the rent increase has totaled in the past year, which is 6.1 percent.
The climbing numbers are the reason an estimated 60 percent of renters with moderate to low incomes spend half their salaries on rent.
“High rents have also stretched the budgets of middle-class workers and made it harder for young professionals to launch careers and start families,” Bloomberg Business contributor Patrick Clark writes.
The news gets worse for 13 U.S. municipalities that have experienced not a 3.3-percent increase and not 6.1-percent increase but a double-digit increase in the cost of putting a roof over its residents’ heads. Here are the top five.
The Midwest community saw a 22-percent jump in 2015.
Des Moines, Iowa
Ames’ relative saw a 21-percent increase in rent.
It’s a 17-percent increase for this southern belle.
Rents spiked 15 percent in Florida’s west-coast city.
The number is the same in the Washington metropolis – 15 percent.
Rounding out the list are Honolulu (15 percent); Denver (14 percent); Portland, Ore. (13 percent); Dallas (13 percent); San Antonio, Texas (12.5 percent); San Francisco (12.5 percent); Houston (12.5 percent); and Austin, Texas (10 percent).