The Indicator from Planet Money · Tuesday, July 7, 2026
Despite significant rent hikes since before the pandemic, rent increases over the past year have been outpaced by inflation and wage growth. Kara Ing of Zillow notes that wages are rising faster than rents, providing an estimated $2,300 more per year for renters, not including special incentives.
“Yeah, no, that's very valid. You're exactly right. Rents went up what, 37% since before the pandemic. Um, I mean, that was a big shock. Remember what happened in the pandemic is prices of everything went up.”
“But at least right now, the cost of rent has not gone up as fast as other expenses over this past year. Like the cost of electricity, the cost to fill up your car.”
“Kara says yes, in March rents still rising, but wages were rising even faster. And that translated into an additional $2,300 a year in people's pockets. That's not counting those free months of rent and renters are getting.”