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Rental markets across the United States have been experiencing tighter conditions as the demand for rental units continues to increase. Rent increases have been outpacing wage growth, leaving many tenants in a situation where they are paying too much for their housing. However, this may be easing in some markets, with various cities and states enacting regulations that cap rental rates, and other measures that protect tenants from landlords looking to take advantage. The slower demand for rental units during the pandemic has also had a cooling effect on rents. Most recently, city governments in San Francisco, Los Angeles, and New York City have implemented rent freezes and other similar programs to help tenants save money on their monthly rent costs as the economy continues to recover.
