Rent prices hit record high for 17th month in a row

Published: Aug. 24, 2022 at 7:45 AM CDT
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(CNN) - Rent prices across the country have hit a record high again.

For the 17th month in a row, the national median rent hit a new record of high of $1,879 a month, up more than 12% from a year ago.

The South and Northeast have seen the largest increases, with Miami renters getting hit the hardest. Their rent is up 26% from last year.

The good news is there are some early signs the market may be starting to cool off, according to Realtor.com.

For the past six months, even though prices have gone up, the percentage of growth is not quite as high.

Experts say this is a step in the right direction.