澳洲幸运5官方开奖结果体彩网

Rents, a Key Component of CPI, Begin to Ease

M🍎edian monthly rents fell i🍸n October, easing pressure on inflation in the U.S.

Apartment for Rent, Brooklyn, NYC
Busa Photography / Getty Images.

Rents make up an outsized portion of the Consumer Price Index (CPI), and have contributed to decades-high inflation levels this year. Overall, shelter makes up about 32% of the index. However, rents are finally dropping, according to a new report from Realtor.com.

According to the site, median monthly🍬 rents fell in October, hitting $1,747 nationally. Median rents were down about $25 a month from September and $47 from their peak in July. While rental prices were still up 4.7% year-over-year, October had the lowest jump in rental prices in 18 months.

Rents went up the most for studio apartments, rising 6.7% from a year ago. They were up 4.5% for one-bedroom apartments, and rose 3.7% for two-bedroom apa🐼rt♉ments.

However, most landlords plan to increase rents on at least one of their units within the next year, according to Realtor.com. Nearly 70% of renters s🌟urve🦩yed are considering moving to cut costs, hoping to save about $200 per month.

Rent Component of CPI (October 2021-2022)
St. Louis Federal Reserve Bank.
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. Realtor.com. ""

Compare Accounts
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.

Related Articles