The cost of paying rent inflated by 6.3% over the past year, the largest increase in 35 years. Additionally, the median cost of an apartment reached $2,000 for the first time ever in June.
For households on low or fixed incomes, rent increases mean choosing between paying the landlord and buying essentials, according to Michael Mitchell, a director of policy and research at the Groundwork Collaborative, a Washington, D.C.-based think tank.
Vanessa Armour knows this story all too well. An activist and retired postal worker living in Las Vegas, Nevada, Armour was excited about the prospect of spending her retirement in her current apartment when she moved in. However, her landlord has tacked on fees for “assessments,” Armour said, effectively raising her $1,100 rent by more than $200 per month.
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