From December 2020 to December 2021, the median rent in Tampa spiked more than 25%. Meanwhile, Miami became the least affordable housing market in the country with a whopping 49.8% increase.
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Rent in U.S. metro areas saw a 19.3% surge this past year, driving overall inflation. The steep rent rise post-pandemic was the result of a nationwide supply deficit.
Rents have exploded across the country, causing many to dig deep into their savings, downsize to subpar units or fall behind on payments and risk eviction now that a federal moratorium has ended.