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Renting a home is not an inexpensive prospect these days. In fact, the median monthly rent in the U.S. was $1,942 in January, according to Rent.com. That’s a 2.37% increase from one year prior.
Meanwhile, it’s common for landlords to raise rents as soon as they’re able to. And that generally happens once a lease comes up for renewal.
If your rent is going up, you have some options. For one thing, if you’re in a great financial spot and can afford a mortgage loan, you can look at buying a home.
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