Tenants grapple with rent hikes amid overall inflation spike

By ALEX VEIGA
AP Business Writer

LOS ANGELES (AP) — At a time when rising gasoline and food prices are already straining Americans’ budgets, many apartment tenants are grappling with soaring rents. Some parts of Florida saw median rents soar more than 50% in April, while nationally median rent has set all-time highs for 14 months in a row. Tenants are likely to see further rent hikes this year. About 72% of the landlords surveyed said they were planning to increase rents within 12 months.