{"id":1528,"date":"2022-10-11T01:53:33","date_gmt":"2022-10-11T01:53:33","guid":{"rendered":"https:\/\/www.prudentialcal.com\/?p=1528"},"modified":"2023-01-31T11:53:07","modified_gmt":"2023-01-31T11:53:07","slug":"avoid-the-rental-trap-in-2022","status":"publish","type":"post","link":"https:\/\/www.prudentialcal.com\/avoid-the-rental-trap-in-2022\/","title":{"rendered":"Avoid the Rental Trap in 2022 "},"content":{"rendered":"\n

Are you one of the many renters who are now pondering your housing options for the time after your current lease expires? It is essential that you have a solid understanding of the real expenses involved in renting in the year 2022 before you make any decisions regarding your housing situation.<\/p>\n\n\n\n

You, as a tenant, should be aware that rents have been steadily increasing since 1988. In 2021, rentals increased significantly. ApartmentList<\/a> reports that since January 2021:<\/p>\n\n\n\n

\"The national median rent has risen by an astounding 17.8 percent. In comparison, rent increase from January to November in the pre-pandemic years of 2017-2019 averaged just 2.6%.\"<\/em><\/p>\n\n\n\n

This rise in 2021 was significantly more than the average rent increase in prior years. In other words, rents are rapidly increasing. And realtor's<\/a> 2022 National Housing Forecast predicts that unoccupied unit values will continue to rise this year:<\/p>\n\n\n\n

\"In 2022, we anticipate that this tendency will persist and underpin rent rise. Nationally, we anticipate a rent increase of 7.1% over the next 12 months, slightly outpacing home price increases.\"<\/em><\/p>\n\n\n\n

Therefore, if you want to move into a new rental this year, you will likely spend far more than in previous years.<\/p>\n\n\n\n

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