Dealing with Soaring Rent Prices

Today at 5 p.m., our Evrod Cassimy has expert suggestions on how to find affordable housing.

Rental prices are increasing, making life tougher for households on a tight budget, and it’s leaving some people scrambling to find new places to live.

The soaring rent prices are caused by a supply chain shortage in the housing market that stems from the recession that the economy went through during the COVID-19 pandemic.

Many would-be home buyers have been priced out of the market due to higher mortgage rates and are now renting at inflated prices. Higher demand for rental housing during the pandemic has given landlords incentive to raise rental prices and they are expected to keep rising.

Watch today at 5 p.m. on Local 4 News and streaming on Local 4+.

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