{"id":1781,"date":"2022-09-09T16:49:00","date_gmt":"2022-09-09T16:49:00","guid":{"rendered":"https:\/\/junehomes.com\/blog\/?p=1781"},"modified":"2024-11-04T14:00:04","modified_gmt":"2024-11-04T14:00:04","slug":"how-rent-prices-the-have-changed-over-time","status":"publish","type":"post","link":"https:\/\/junehomes.com\/blog\/2022\/09\/09\/how-rent-prices-the-have-changed-over-time\/","title":{"rendered":"How U.S. Rent Prices have Changed Over Time\u00a0"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large has-custom-border\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/william-daigneault-Hx5vtx2e4KQ-unsplash-1024x683.jpg\" alt=\"Skyscrapers viewed from street level, representing changes in U.S. rent prices over time.\" class=\"wp-image-1792\" style=\"border-radius:4px\" srcset=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/william-daigneault-Hx5vtx2e4KQ-unsplash-1024x683.jpg 1024w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/william-daigneault-Hx5vtx2e4KQ-unsplash-300x200.jpg 300w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/william-daigneault-Hx5vtx2e4KQ-unsplash-768x512.jpg 768w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/william-daigneault-Hx5vtx2e4KQ-unsplash-1536x1024.jpg 1536w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/william-daigneault-Hx5vtx2e4KQ-unsplash-2048x1365.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"yoast-reading-time__wrapper\"><span class=\"yoast-reading-time__icon\"><svg aria-hidden=\"true\" focusable=\"false\" data-icon=\"clock\" width=\"20\" height=\"20\" fill=\"none\" stroke=\"currentColor\" style=\"display:inline-block;vertical-align:-0.1em\" role=\"img\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 24 24\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M12 8v4l3 3m6-3a9 9 0 11-18 0 9 9 0 0118 0z\"><\/path><\/svg><\/span><span class=\"yoast-reading-time__spacer\" style=\"display:inline-block;width:1em\"><\/span><span class=\"yoast-reading-time__descriptive-text\">Estimated reading time:  <\/span><span class=\"yoast-reading-time__reading-time\">7<\/span><span class=\"yoast-reading-time__time-unit\"> minutes<\/span><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Throughout time, the cost of living has always risen due to inflation. The prices for basic needs (including rent prices) rise yearly, and we become accustomed to new prices no matter how high they get, forgetting how low they once were.&nbsp;<\/p>\n\n\n\n<p>This is why it\u2019s always interesting to look back in time and examine how the cost of different needs has changed. Throughout history, a place to live has always been one of the individual\u2019s most essential and expensive needs. But back in the day, the cost of rent wasn\u2019t always that expensive &#8211; at least by today\u2019s standards. Let\u2019s look at how the price of rent has changed in the U.S. from the 60s to present day.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list has-tertiary-background-color has-background\">\n<li><a href=\"#h-the-60s\">The 60s<\/a><\/li>\n\n\n\n<li><a href=\"#h-the-70s\">The 70s<\/a><\/li>\n\n\n\n<li><a href=\"#h-the-80s\">The 80s<\/a><\/li>\n\n\n\n<li><a href=\"#h-the-90s\">The 90s<\/a><\/li>\n\n\n\n<li><a href=\"#h-the-early-2000s\">The Early 2000s<\/a><\/li>\n\n\n\n<li><a href=\"#h-the-10s\">The 10s<\/a><\/li>\n\n\n\n<li><a href=\"#h-the-20s\">The 20s<\/a><\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\" style=\"padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30)\">\n<h4 class=\"wp-block-heading has-text-align-center has-medium-font-size\" style=\"padding-top:0;padding-bottom:0\"><em>Enjoy a hassle-free, high-end rental experience for stays of one month or longer in major US cities.<\/em><\/h4>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<figure class=\"wp-block-gallery has-nested-images columns-2 is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large has-custom-border\"><a href=\"https:\/\/junehomes.com\/residences\/boston-ma?utm_source=blog&amp;utm_medium=city_listing&amp;utm_id=boston\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" width=\"1024\" height=\"682\" data-id=\"19020\" src=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/5_resized-1-1024x682.jpg\" alt=\"A spacious and well-lit living room in Boston, featuring contemporary furniture, a large rug, and greenery adding a fresh touch.\" class=\"wp-image-19020\" style=\"border-radius:5px\" srcset=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/5_resized-1-1024x682.jpg 1024w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/5_resized-1-300x200.jpg 300w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/5_resized-1-768x512.jpg 768w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/5_resized-1-1536x1024.jpg 1536w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/5_resized-1-150x100.jpg 150w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/5_resized-1.jpg 2000w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><a href=\"https:\/\/junehomes.com\/residences\/boston-ma?utm_source=blog&amp;utm_medium=city_listing&amp;utm_id=boston\" target=\"_blank\" rel=\"noreferrer noopener\">Boston<\/a><\/strong><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large has-custom-border is-style-rounded\"><a href=\"https:\/\/junehomes.com\/residences\/new-york-city-ny?utm_source=blog&amp;utm_medium=city_listing&amp;utm_id=nyc\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" width=\"1024\" height=\"682\" data-id=\"18979\" src=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1_resized-1-1024x682.jpg\" alt=\"A bright, modern living room in New York City with exposed brick walls, large windows, and stylish wooden furniture.\" class=\"wp-image-18979\" style=\"border-radius:5px\" srcset=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1_resized-1-1024x682.jpg 1024w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1_resized-1-300x200.jpg 300w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1_resized-1-768x512.jpg 768w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1_resized-1-150x100.jpg 150w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1_resized-1.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><a href=\"https:\/\/junehomes.com\/residences\/new-york-city-ny?utm_source=blog&amp;utm_medium=city_listing&amp;utm_id=nyc\">New York City<\/a><\/strong><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large has-custom-border\"><a href=\"https:\/\/junehomes.com\/residences\/chicago?utm_source=blog&amp;utm_medium=city_listing&amp;utm_id=chicago\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" data-id=\"19014\" src=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/4_resized-14-1024x682.jpg\" alt=\"A comfortable living room in Chicago with modern furniture, a large plant, and natural light streaming through the windows.\" class=\"wp-image-19014\" style=\"border-radius:5px\" srcset=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/4_resized-14-1024x682.jpg 1024w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/4_resized-14-300x200.jpg 300w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/4_resized-14-768x512.jpg 768w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/4_resized-14-1536x1024.jpg 1536w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/4_resized-14-150x100.jpg 150w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/4_resized-14.jpg 2000w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><a href=\"https:\/\/junehomes.com\/residences\/chicago?utm_source=blog&amp;utm_medium=city_listing&amp;utm_id=chicago\" target=\"_blank\" rel=\"noreferrer noopener\">Chicago<\/a><\/strong><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large has-custom-border\"><a href=\"https:\/\/junehomes.com\/residences\/washington-dc?utm_source=blog&amp;utm_medium=city_listing&amp;utm_id=wdc\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"681\" data-id=\"19027\" src=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/11_resized-1024x681.jpg\" alt=\"A cozy seating area in DC with two black chairs next to a large window, providing ample natural light and a view of the city.\" class=\"wp-image-19027\" style=\"border-radius:5px\" srcset=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/11_resized-1024x681.jpg 1024w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/11_resized-300x200.jpg 300w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/11_resized-768x511.jpg 768w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/11_resized-1536x1021.jpg 1536w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/11_resized-150x100.jpg 150w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/11_resized.jpg 2000w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><a href=\"https:\/\/junehomes.com\/residences\/washington-dc?utm_source=blog&amp;utm_medium=city_listing&amp;utm_id=wdc\" target=\"_blank\" rel=\"noreferrer noopener\">Washington DC<\/a><\/strong><\/figcaption><\/figure>\n<\/figure>\n<\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full has-custom-border\"><a href=\"https:\/\/junehomes.com\/?utm_source=blog&amp;utm_medium=city_listing&amp;utm_id=mainpage\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"250\" src=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1-1.png\" alt=\"June Homes Banner\" class=\"wp-image-19074\" style=\"border-radius:5px\" srcset=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1-1.png 1024w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1-1-300x73.png 300w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1-1-768x188.png 768w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1-1-150x37.png 150w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center has-small-font-size\"><em>Fully-furnished rooms and apartments with flexible lease. Apply today and move in tomorrow.<\/em><\/h4>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading has-x-large-font-size\" id=\"h-the-60s\">The 60s<\/h2>\n\n\n\n<p>The American economy in the 60s is often described as having flourished. For renters, the average rent price was just $71. At this time, the cheapest state to rent a home was Alabama, at just $45 per month, and the most expensive state to rent a home was Alaska, for $126 per month.&nbsp;<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.census.gov\/library\/publications\/1962\/demo\/p60-037.html#:~:text=For%20the%20country%20as%20a,the%20Census%2C%20Department%20of%20Commerce.\" target=\"_blank\" rel=\"noreferrer noopener\">median household income<\/a> was $5,600 around then, so it was common for people to be homeowners without much strain. The average house cost in the 1960s would be $105,000 in today&#8217;s dollars.<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"763\" src=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/Line-chart-1-1024x763.png\" alt=\"Chart showing the average cost of monthly rent in the United States over the decades, illustrating how rent prices have changed over time.\" class=\"wp-image-1818\" srcset=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/Line-chart-1-1024x763.png 1024w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/Line-chart-1-300x224.png 300w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/Line-chart-1-768x572.png 768w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/Line-chart-1.png 1044w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong> The average cost of monthly rent over decades in US.<\/strong><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-x-large-font-size\" id=\"h-the-70s\">The 70s<\/h2>\n\n\n\n<p>In the 70s, America was hit with widespread &#8220;stagflation.&#8221; This refers to a state of simultaneous high inflation and high unemployment, which creates a stagnant economy. As a result, the median monthly rent price was $108, which is a whopping 65% higher than the 60s, the previous decade.&nbsp;<\/p>\n\n\n\n<p>Arkansas had the cheapest <a href=\"https:\/\/fred.stlouisfed.org\/series\/ASPUS\" target=\"_blank\" rel=\"noreferrer noopener\">average rent cost<\/a> at $71, while Alaska remained the most expensive, with the median rent ranging around $189. In 1970, the median household income was $9,870; by the decade&#8217;s end, it had risen to $16,530. By 1979, inflation had increased by 11%.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-x-large-font-size\" id=\"h-the-80s\">The 80s<\/h2>\n\n\n\n<p>In the early 80s, the American economy suffered a deep recession until 1982. By the end of the decade, monthly rent was up to <a href=\"https:\/\/www.in2013dollars.com\/Rent-of-primary-residence\/price-inflation\/1980-to-2022?amount=308\" target=\"_blank\" rel=\"noreferrer noopener\">$308<\/a> on average, and the median household income was <a href=\"https:\/\/www.census.gov\/library\/publications\/1982\/demo\/p60-132.html#:~:text=The%201980%20median%20family%20income,in%20real%20median%20family%20income.\" target=\"_blank\" rel=\"noreferrer noopener\">$21,020<\/a>, 7% higher than in 1979. Consumer prices also increased by 13% during the same period.<\/p>\n\n\n\n<p>By 1989, the median income was $28,910. Rent in Alaska was $368 on average, the highest nationwide in the 80s. In contrast, Arkansas&#8217;s rent price increased slower than the national average at $185.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-x-large-font-size\" id=\"h-the-90s\">The 90s<\/h2>\n\n\n\n<p>Many people characterize America&#8217;s economy in the 90s by the rise of the internet, the services the internet created, and how this influenced employment.&nbsp;&nbsp;<\/p>\n\n\n\n<p>During the 90s, the rent price was $447, and the median household income was <a href=\"https:\/\/www.statista.com\/statistics\/200838\/median-household-income-in-the-united-states\/\" target=\"_blank\" rel=\"noreferrer noopener\">$54,621<\/a> in today&#8217;s dollars. The economy began to recover from the recession, and interest rates lowered, so the housing market rebounded. Homeownership rates increased from 63% in 1990 to 67.4% in 1999. But this accelerated growth had consequences, and another recession followed at the start of the millennium.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-x-large-font-size\" id=\"h-the-early-2000s\">The Early 2000s<\/h2>\n\n\n\n<p>As money inflows into housing projects, government policies promote home ownership, and lending conditions become loose, the 2000s&#8217; infamous housing bust happens.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"527\" height=\"310\" src=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/Line-chart-2.png\" alt=\"The median household income over years in US chart\" class=\"wp-image-1821\" srcset=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/Line-chart-2.png 527w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/Line-chart-2-300x176.png 300w\" sizes=\"(max-width: 527px) 100vw, 527px\" \/><figcaption class=\"wp-element-caption\"><strong>The median household income over years in US.<\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n\n<p>At the start of the decade, renters paid an average of $602 monthly. But by 2009, the lowest <a href=\"https:\/\/www.rentdata.org\/states\/2009\" target=\"_blank\" rel=\"noreferrer noopener\">average rent<\/a> for a 1-bedroom apartment was $486 in Alabama, $687 in Florida, and $833 in California. Hawaii and the District of Columbia had the highest rent rates, at $1,118 and $1,311, respectively. The average household income in 2001 declined to $42,228 due to the recent recession, but it did rise to $50,221 in 2009.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-x-large-font-size\" id=\"h-the-10s\">The 10s<\/h2>\n\n\n\n<p>Between 2010 and 2020, the American economy <a href=\"https:\/\/fred.stlouisfed.org\/series\/ASPUS\" target=\"_blank\" rel=\"noreferrer noopener\">recorded<\/a> the most prolonged economic recovery. The national average rent price increased 36% during this decade, fueled by a cooking job market and an increase in valuable land. Demand skyrocketed, raising prices.<\/p>\n\n\n\n<p>During this time, the median household income also grew by 27%. In 2010, the average monthly rent cost was $1,083 compared to $1,473 in 2020. Similarly, the median house cost price for buying a house rose by an average of 31%, from $179,900 to $234,983.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-x-large-font-size\" id=\"h-the-20s\">The 20s<\/h2>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<blockquote class=\"instagram-media\" data-instgrm-permalink=\"https:\/\/www.instagram.com\/p\/CalFt2VPSY5\/?utm_source=ig_embed&amp;utm_campaign=loading\" data-instgrm-version=\"14\" style=\" background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:540px; min-width:326px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);\"><div style=\"padding:16px;\"> <a href=\"https:\/\/www.instagram.com\/p\/CalFt2VPSY5\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" background:#FFFFFF; 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font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:550; line-height:18px;\">View this post on Instagram<\/div><\/div><div style=\"padding: 12.5% 0;\"><\/div> <div style=\"display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;\"><div> <div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);\"><\/div> <div style=\"background-color: #F4F4F4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;\"><\/div> <div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);\"><\/div><\/div><div style=\"margin-left: 8px;\"> <div style=\" background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;\"><\/div> <div style=\" width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg)\"><\/div><\/div><div style=\"margin-left: auto;\"> <div style=\" width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);\"><\/div> <div style=\" background-color: #F4F4F4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);\"><\/div> <div style=\" width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);\"><\/div><\/div><\/div> <div style=\"display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;\"> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;\"><\/div> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;\"><\/div><\/div><\/a><p style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;\"><a href=\"https:\/\/www.instagram.com\/p\/CalFt2VPSY5\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;\" target=\"_blank\" rel=\"noopener\">A post shared by June (@june.homes)<\/a><\/p><\/div><\/blockquote> <script async=\"\" src=\"\/\/www.instagram.com\/embed.js\"><\/script>\n<\/div>\n<\/div>\n\n\n\n<p>The current decade is not what anyone expected. COVID-19&#8217;s effects <a href=\"https:\/\/junehomes.com\/blog\/2023\/04\/12\/rent-increase-calculator\/\" target=\"_blank\" rel=\"noreferrer noopener\">increased the price<\/a> of almost everything from rent to commodities. Sadly, incomes are not rising at the same rate.&nbsp;<\/p>\n\n\n\n<p>This January&#8217;s <a href=\"https:\/\/fred.stlouisfed.org\/series\/ASPUS\" target=\"_blank\" rel=\"noreferrer noopener\">average rent price<\/a> was $1,463, a 3% increase from the previous year. In April 2022, the national median rent was $1,827, a 16.7% increase from 2021, and the median household income in April 2022 was $76,563.<\/p>\n\n\n\n<p>Want to know how much your rent has increased due to inflation?<\/p>\n\n\n\n<p>For example, if your rent was $900 in 2018, how much has it increased due to inflation? Try this online <a href=\"https:\/\/www.in2013dollars.com\/Rent-of-primary-residence\/price-inflation\/\" target=\"_blank\" rel=\"noreferrer noopener\">rent inflation calculator<\/a> and find out. <\/p>\n\n\n\n<p class=\"has-medium-font-size\">Check here, <a href=\"https:\/\/www.washingtonpost.com\/business\/interactive\/2022\/rising-rent-prices\/\">how rent has changed<\/a> in 1,500 counties across the United States since the start of the pandemic.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-x-large-font-size\" id=\"h-u-s-rent-prices-have-seen-exponential-changes-nbsp\">U.S. Rent Prices have seen exponential changes&nbsp;<\/h3>\n\n\n\n<p>The American economy has been nothing short of a rollercoaster since the 60s. Thinking that the average rent cost has risen from $71 in the 60s to $1,827 in the present day is baffling, but then again, a lot can change in six decades.&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/junehomes.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">June Homes<\/a> knows that due to the average cost of monthly rent today, renters are always looking for a bargain. Our mission is to make renting as easy and straightforward as possible &#8211; which also applies to pricing. FInd a rental for a price that works for you by searching for homes <a href=\"https:\/\/junehomes.com\/blog\/2023\/01\/05\/how-much-rent-can-i-afford\/\" target=\"_blank\" rel=\"noreferrer noopener\">according to your budget<\/a> and enjoy solutions for cutting costs, like <a href=\"https:\/\/junehomes.com\/blog\/2023\/03\/03\/pros-cons-of-coliving\/\" target=\"_blank\" rel=\"noreferrer noopener\">renting with roommates<\/a>. <\/p>\n\n\n\n<p>When you&#8217;re ready to find a rental customized to your needs and your budget, we&#8217;re prepared to help you find it.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-full has-custom-border\"><a href=\"https:\/\/junehomes.com\/?utm_source=blog&amp;utm_medium=city_listing&amp;utm_id=mainpage\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"250\" src=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1-1.png\" alt=\"June Homes Banner\" class=\"wp-image-19074\" style=\"border-radius:5px\" srcset=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1-1.png 1024w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1-1-300x73.png 300w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1-1-768x188.png 768w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2024\/08\/1-1-150x37.png 150w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<h4 class=\"wp-block-heading has-x-large-font-size\" id=\"h-more-from-the-june-blog\" style=\"font-style:normal;font-weight:400\">More Insights on Renting a Place to Live<\/h4>\n\n\n<ul class=\"wp-block-latest-posts__list has-dates wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/junehomes.com\/blog\/2025\/01\/04\/unique-housing-trends-that-complement-mid-term-rentals\/\">4 Unique Housing Trends That Complement Mid-Term Rentals<\/a><time datetime=\"2025-01-04T14:41:52+00:00\" class=\"wp-block-latest-posts__post-date\">January 4, 2025<\/time><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/junehomes.com\/blog\/2024\/11\/25\/top-10-best-real-estate-companies-in-the-world\/\">Top 10 Best Real Estate Companies in The World<\/a><time datetime=\"2024-11-25T09:41:51+00:00\" class=\"wp-block-latest-posts__post-date\">November 25, 2024<\/time><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/junehomes.com\/blog\/2024\/07\/26\/renting-statistics-report\/\">Renters&#8217; Reality: Half Live on Less Than $50K per Year<\/a><time datetime=\"2024-07-26T11:52:38+00:00\" class=\"wp-block-latest-posts__post-date\">July 26, 2024<\/time><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/junehomes.com\/blog\/2024\/07\/19\/new-york-city-hottest-neighborhoods\/\">New York City Hottest Neighborhoods Right Now<\/a><time datetime=\"2024-07-19T11:54:45+00:00\" class=\"wp-block-latest-posts__post-date\">July 19, 2024<\/time><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/junehomes.com\/blog\/2024\/07\/12\/bostons-cheapest-and-expensive-neighborhoods\/\">Boston&#8217;s Cheapest and Most Expensive Neighborhoods to Rent in 2024<\/a><time datetime=\"2024-07-12T11:34:39+00:00\" class=\"wp-block-latest-posts__post-date\">July 12, 2024<\/time><\/li>\n<\/ul><\/div>\n<\/div>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dive into an overview of how the average cost of rent has changed in the U.S. through the decades with June.<\/p>\n","protected":false},"author":35,"featured_media":9524,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[97],"tags":[849],"class_list":["post-1781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-renters","tag-financial-literacy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How U.S. Rent Prices have Changed Over Time\u00a0<\/title>\n<meta name=\"description\" content=\"Dive into an overview of how the average cost of rent has changed in the U.S. through the decades with June.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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