Will Rents Decline in 2023 or 2024? Rent Prices Forecast to Rise!

Rents are forecast to rise in 2023 and also in 2024 mostly driven by high inflation and high demand for rental units. Home prices have risen to all time highs in the last few years.

There are a number of factors that can contribute to rising rent prices in 2023. One major factor is a lack of available housing supply, which can drive prices up as demand outstrips supply. Additionally, economic factors such as job growth and population growth can also contribute to rising rent prices. In some areas, rising property values and increasing property taxes can also contribute to higher rent prices. Finally, government policies and regulations can also impact the housing market, and changes to these policies can affect rent prices in 2024.

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