Apartment rentes are soaring across the U.S.

ApartmentrentsaresoaringacrosstheU.S.,withSouthFloridainthelead.NewYorkisn’tfar

behind.

InMiami,WestPalmBeachandFortLauderdale,rentsjumped36%inOctoberfromayearearlier,whiletheNewYorkCitymetroarea-includingWestchesterCountyandpartsofnorthernNew

Jersey--posteda 31%gain,accordingtoareportbyRedfinCorp.

Theaveragemonthlygainincreasewas13%,thehighestgrowthrateinatleasttwoyears,Redfin

said.Seattle;Portland,Oregon;andAustin,Texas,werealsoamongmetroareasthatbeattheU.S.average.

“Skyrocketingrentsinsomeofthemostdesirablecitiessuggestthatthereisanoverallshortageofhomes,andnotjustofhomesforsale,”saidDarylFairweather,chiefeconomistatRedfin.

RentshavesurgedacrosstheU.S.thisyear,stokinginflationfears.They’vebeenrisingfastestinSunBeltcitiessuchasMiamiandAustin,wherejobsandrelativelylowcostshavepulledin

transplants.

ButNewYorkandothercoastalcitiesaremakingacomebackasmoreworkersreturntotheofficeandcollegesbringstudentsbacktocampus.

“Therecentincreaseindemandforrentalscomesfrompeoplewhowanttolockintheirleasenowbeforepricesriseevenfurtheroutofreach,”Fairweathersaid.