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According to new Consumer Price Index (CPI) data from the U.S. Bureau of Labor Statistics, the nationwide rent average has increased by 23 percent since President Biden and Vice President Harris took office in January 2021.
The CPI for urban renters rose slightly in February and climbed from 342 to 421 by August 2024, reflecting a 79-point increase. BLS research indicates that midwestern cities experienced a nearly 24 percent increase in rent from January 2021 to August 2024.
According to the American Community Survey, Hawaii, Washington, D.C., and California have the highest average rental costs at $1,651, $1,607, and $1,586 per month, respectively. In contrast, South Dakota, Arkansas, and West Virginia have the lowest rents, averaging $761, $760, and $732 per month, respectively.
In New York City, one of the world’s most expensive places to live, officials are providing $5,000 in grants and gift cards to undocumented migrants to assist with renting apartments, according to a recent report by Breitbart News.
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