National rent hits all-time high in 2022, with New York City leading the way with two-bedroom rent up nearly 30 percent, according to Zumper’s National Rent Report.
Why is rent in the U.S. dramatically increased this year? The answer: inflation.
Inflation has reached its highest level since the early 1980s. In January of 2022, the annual inflation rate accelerated to 7.5 percent, according to the U.S. Bureau of Labor Statistics. Only one year ago, the inflation rate remained at 1.7 percent. However, its impact on costs varies from market to market.