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If you’re renting your home, chances are your wallet might feel it when your lease renews this year as rents around the country are skyrocketing at a record pace. Nationally, one-bedroom apartments saw an increase of more than 24% in the last year, according to Rent.com. Some metro areas have seen increases as high as 40%, according to Redfin, and only two of the country’s most populous metro areas posted rent decreases (and those were slight). While your choices are sparse, there are some things you can do if your landlord raises your rent to a level you can’t afford. We’ll get into the details, but the main categories of steps you can take involve:
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Checking your local laws
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Looking for rent subsidy programs
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Negotiating with your landlord
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Considering a move
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