Study: Renting a place to live in Alabama is getting pricier

The website Rent.com researched the cost of renting in the U.S. Here in Alabama, it reportedly costs eighteen percent more now compared to a year ago. The study indicates the average monthly price for a rental unit was just over a thousand dollars last year. This year, it’s twelve hundred. As bad as that sounds, renters in other states are reportedly doing worse. Idaho, for example, saw its month rental of a two bedroom unit price jump by almost fifty seven percent in the past year. Louisiana and Oklahoma are closer to what Alabamians are paying with a nearly twenty three percent hike since 2020. Rent.com reports some areas are actually seeing a decrease in month rental costs. A two bedroom unit in South Dakota dropped by over twenty six percent in the last year. New Mexico and Kentucky rents went down by just over fourteen percent each.