The average room for rent cost has increased 23% over the past year, according to Roommates.com

Roommates.com data shows that in 2022, the average cost for renting a room across the United States has increased from $775 to $955, approximately 23%

UNITED STATES, February 6, 2023 /EINPresswire.com/ -- Roommates.com has released new data on the increased cost of a room to rent. From January 2022 to December 2022, the average cost for renting a room across the United States has increased from $775 to $955, or approximately 23%.

According to the United States Bureau of Labor Statistics, the latest inflation numbers clock in at around 8.3% over the last year. However, the real-world data compiled by Roommates.com shows something drastically different. According to hundreds of thousands of roommate and room for rent listings posted on Roommates.com over the last year, the cost to rent a room has gone up much more than the official numbers would suggest.

The good news for renters is that the worst of the increase seems to have passed. The average price of a room for rent was $938 in July, compared to $955 in December, an increase of a much-more-palatable 1.8%.

However, those wishing to rent out a room for additional income are seeing healthy increases as well, helping their household bottom line.

About Roommates.com:

Roommates.com is the nation’s oldest and most-respected roommate and room for rent matching service. Roommates.com allows those seeking a place to live, and those looking to rent out a room, a way to match with potential roommates based on a proprietary algorithm. Roommates.com makes it easy to find the right match while feeling safer through verified identities and fraud prevention.

Mark Osgerby
Roommates.com
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