The states where rent is going up the fastest - and the slowest

The 2023 American Community Survey indicates that almost half of renter households devoted over 30% of their income to housing, indicating a growing financial burden.

States such as Maine, New Mexico, and Utah reported the steepest rent hikes, with increases centered around the Mountain region, exacerbating affordability issues.

Median rental costs now hover around $1,406, with Hawaii and Washington, DC, pushing as high as $1,800, stressing the financial strain on renters.

While some states saw rent increases stabilize, areas like Florida, Nebraska, and Vermont experienced notable decreases, highlighting varied regional dynamics in the rental market.

Read at Business Insider