Renting a property in the US is becoming more expensive as the housing market cools after a boom during the pandemic that also drove home values to record highs.In May, the median monthly rent in the United States exceeded $2,000 for the first time ever.Similar to the property market, Freddie Mac believes that the U.S. has a shortfall of about 4 million housing units. And according to a monthly report U.S. Department of Housing and Urban Development and Census Bureau, the number of new single-family housing starts fell 8.1% on an annualized basis in June. However, according to reports, renters should anticipate some price relief later this year, when ongoing construction projects are finished and additional apartments hit the market.
