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flag U.S. rents surged 41%–37% since 2020, outpacing wage growth and straining affordability.

flag Rent for one- and two-bedroom apartments in the 50 largest U.S. cities rose 41% and 37% respectively since 2020, reaching $1,578 and $1,858 monthly, according to a LendingTree study using HUD data. flag Rents have increased 1.5 times faster than wages since 2019, driven by supply shortages and high demand, especially in New York, San Diego, and Miami. flag While national rent growth is expected to slow to 1% next year, affordability remains a major challenge, with first-time buyers using a record 10% of home prices for down payments in 2025.

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