Northeast Ohioans tell News 5 they’re feeling the crunch of rising expenses, including the burden of increasing rental prices.
CLEVELAND — Federal data released Wednesday shows inflation reaching a new 40-year high. The 9.1%, 12-month rate is the highest since December 1981.
The Cleveland mother of two was picking up food at a drive-thru distribution at the May Dugan Center Wednesday. The roughly $200 in groceries she receives helps offset other costs. Carrillo said her rent has not gone up, but she worries it’s an inevitability. “I’ve seen where basically everyone in the complex is being pushed out and the rents are being doubled, sometimes tripled,” said Josiah Quarles, a housing justice community organizer at the Northeast Ohio Coalition for the Homeless .
Data recently released by rental tracking website Dwellsy shows the median national rent is now higher than $2,000 for the first time ever. By contrast, the greater-Cleveland area’s median asking rent is now at $1,050. He explained property managers are also feeling the pinch of inflation, with skyrocketing labor, energy and material prices. But he said many landlords are footing much of the extra expense.
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