St. Cloud Rents Lead Nation
ST. CLOUD (WJON News) - St. Cloud has seen the third-largest rent increase in the United States.
That’s according to Dwellsy, the largest home rental listing platform in the country.
The website lists the median asking rent for St. Cloud in October of 2022 was just over $1,500 per month. That’s a 102 percent increase since October 2021.
By comparison, the asking rent across the U.S. has seen an increase of almost 29 percent to just over $2,000 per month.
Jonas Bordo, CEO and co-founder of Dwellsy, says the information is a valuable tool for people looking to relocate.
I think having hard data on cities with rapidly rising rent is especially crucial for individuals and households who are considering relocating. If you’re just browsing rental listings in various cities, it can be nearly impossible to pick out developing rental trends, make informed decisions, and plan for the future.
Officials at Dwellsy claim an increase in demand for single-family rentals is the main cause of the increase, and rent payments for single-family rentals are 40 percent higher than apartment rent nationwide.