U.S. Bureau of Labor Statistics report shows that the COVID‑19 pandemic accelerated rent inflation nationwide, with regional differences. From 2013 to 2023, the national rent index rose 45 percent, averaging 3.91 percent per year, while the all‑items CPI rose 30 percent. The pandemic period (March 2020–January 2023) saw the greatest increases, with the national rent index rising 4.86 percent annually. Regional averages varied: the West remained close to the national average (4.52 percent), the South led with 5.01 percent, the Midwest 3.35 percent, and the Northeast lagged at 2.86 percent. In the West, Los Angeles and Phoenix drove much of the rise; in the South, Miami and Dallas were major contributors.
Source: Bureau of Labor Statistics (BLS).
Materials reproduced from www.bls.gov.
No endorsement by BLS is implied.
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