As renters pay more, landlords get some relief

Americans are paying more to live in apartments, as demand for housing increases and many would-be homebuyers are forced to rent because prices for houses have gotten too steep.

It’s a boon for owners of big apartment communities more than a year after the economy fell into a recession that left millions of Americans unemployed and struggling to pay rent. Zillow, which tracks housing data, says its rent index rose 7.1 percent in June, the biggest year-over-year increase going back to

Associated Press file photo A leasing sign outside a residential building in Des Plaines, Ill., in March. Things are looking up for owners of big apartment communities more than a year after the pandemic knocked the economy into a recession and left millions of Americans unemployed. Rents are rising amid strong demand as U.S. home prices push ever higher.