Cost Of Rent Is Skyrocketing

The cost of rent is hitting a record high across the country.

A report from Realtor.com says the average rent in the U.S. in February was about 17-hundred-dollars a month, up 17-percent from a year ago. The report said a typical apartment is nearly 280-dollars more expensive per month than it was two years ago.

Cities dealing with the largest increases of 23-percent or more include Miami, San Diego, Phoenix and Austin. Cities with the smallest rent increase were Cleveland, Minneapolis and Detroit.