Rent is rising in America and it’s only expected to increase in the coming years.

A study conducted back in August of 2021 by the Federal Reserve Bank of Dallas projected that rent and owner-equivalent rent inflation would rise six point nine percent by December 2023, which would be the highest in over 30 years.

Here in Nebraska, property managers say monthly rent has indeed increased.

“We have gone up. We’ve kept up with the market rent. It hasn’t gone up extremely high but it has gone up because all of the costs have gone up,” said Patty Podliska, who is the Senior Property Manager for J.Allen Properties in Norfolk. 

With rent going up and the eviction moratorium ending back in July of 2021, evictions are on the rise around the United States.

Podliska said evictions really haven’t been a problem in Norfolk.

‘We haven’t had too many evictions. We have some very, very good renters. We work with them. We try to help them out the best way we can,” added Podliska.

For some renters wondering why rent has increased here in northeast Nebraska, Podliska told News Channel Nebraska why.

‘’The lumber prices are extremely high. Doing work in the apartments, the flooring, the paint, everything has gone up. So, we’ve had to go up to reflect those costs. Insurance costs have gone up extremely much,” Podliska told News Channel Nebraska.

With 2022 officially upon us and rent expected to only increase in the next year, J. Allen Properties expects to follow that trend.

“We’ll stay with the trend and stay with the market rents as well as everybody else increases in Norfolk. I imagine our owners will want to increase as well,” says Podliska.