US average rent rose to just under $2,000 per month in April, Zillow reports.
Tenants now need to earn 36% more than they did in 2019 to afford a typical rent.
While rent growth continues, multifamily construction has softened its advance.
Since the pandemic's start, rent has increased 31.4%, though income has only grown 23% through February.
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Persons:
Zillow, —, haven't
Organizations:
Service, Business