New York State Nearly Leads Nation In Rent Increase

New York State is one of the leading states in terms of rent hikes.

A spokesperson from Rent.com reached out to Hudson Valley Post to let us know that New York State is one of the top 10 states for rent increases.

New York State One 10 States Leading U.S. In Rent Increases

"New York is one of 10 states leading the U.S. in rent increases right now. That's the new data from leading resource Rent in its July rent report," the spokesperson told Hudson Valley Post in an email.

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New  York State Has 5th Highest Rent Increase In The Nation

In the past year, rent has increased by nearly 12 percent in the Empire State, according to the report. New York ranks 5th in the nation in terms of the highest year-to-year increase in rent.

Below are the top 10 states:

• South Dakota (+26.72 percent)
• Mississippi (+26.66 percent)
• Iowa (+15.69 percent)
• North Dakota (+11.87 percent)
• New York (+11.71 percent)
• Arkansas (+11.24 percent)
• Nebraska (+8.30 percent)
• New Hampshire (+7.46 percent)
• Wisconsin (+7.22 percent)
• Indiana (+6.54 percent)

Rent Prices Skyrocket In New York State In Past Year

The nationwide median rent price has decreased 1.17 percent in the past year, just not in New York State, according to Rent.

The median rent in New York State is $2,794. That has increased 1.21 percent in the past month and nearly 12 percent, 11.71 percent, in the past year, according to Rent.

Read More: Popular Retail Store Forced To Close All New York State Locations

Nationwide rent has increased by 15. percent in the past two years, officials say.