A Maryland woman said in a viral video that her landlord asked her to choose between rent hikes of 25 percent and 38 percent, sparking online outrage.
Rents have been shooting up across the United States. In March, the median monthly asking rent was 17 percent higher than a year before, according to real estate firm Redfin. Many parts of the country saw rents increase over 30 percent, with hikes of 40 percent in Portland, Oregon, and 38 percent in Austin, Texas.
Meanwhile, monthly mortgage payments have climbed 34 percent from a year ago, largely due to rising interest rates, Redfin has reported. Soaring mortgage rates and record-high home prices have pushed many potential homebuyers out of the market, driving demand for rentals and, in turn, rent hikes.