Several metropolitan areas across the United States are seeing rapid increases in rental rates. This trend is attributed to a confluence of factors. Firstly, increased demand, driven by population growth and a decreasing availability of housing options, is fueling the rise in rental costs. Secondly, wealthy international tenants are relocating to the country, increasing the overall demand for rental space. Furthermore, the rapid growth of the metropolitan areas has created a competitive market, impacting rental prices. Real estate experts note that this trend is likely to continue for the foreseeable future.
Credits: Finance & economics
