![\"Apartments](\"https:\/\/www.customerservicemanager.com\/wp-content\/uploads\/2022\/07\/bg-421479749.jpg\")
\nAccording to Redfin, the typical U.S. asking rent passed $2,000<\/a> for the first time in May, and in Manhattan rents are skyrocketing to as much as $5,000 a month<\/a> as COVID-era concessions go by the wayside. <\/strong><\/p>\n Unexpected price tags overnight\u00a0 that just keep increasing keep rent a mainstream conversation, but what do renters think about the highest rent prices in recent years?<\/p>\n We used our own social listening technology and applied natural language processing to comb through customer ratings and reviews to see what renters think about rent price and their housing providers, or landlords.<\/p>\n Why Did Rents Soar This Year?<\/strong><\/p>\n These factors are playing a big role in driving rent increases:<\/p>\n Housing costs will likely not go down anytime soon. According to a national survey, 69% of respondents say they expect rent prices to continue to rise<\/a> at a near-record pace. On average consumers expect rent to increase by 7.1%.<\/p>\n Rent Price Discussion on Social Media<\/strong><\/p>\n Our social listening platform analyzed adjectives trending on social media when it came to rent prices. We looked at data from around December 2021 through July 2022. The top word used to describe rent prices was \u201cexpensive,\u201d mentioned more than 48,000 times over that period on Twitter. Digging into those mentions showed consumer\u2019s frustrations and fears over the rising prices of rent.<\/p>\n I\u2019d like to know why I can\u2019t get a mortgage yet my rent is more expensive that a mortgage would be.<\/p>\n \u2014 David Harrison (@davidiharri) July 20, 2022<\/a><\/p><\/blockquote>\n\n
\n