Rents are rising faster than wages across the country, especially in these cities
CBSN
Wages for the typical U.S. worker have grown since the pandemic, but for many Americans those gains are being gobbled up by rising rent.
Rents have jumped 30.4% nationwide between 2019 and 2023 while wages during that same period only grew 20.2%, according to a recent analysis from online real estate brokers Zillow and StreetEasy. Gaps between wage growth and rent increases were widest in large cities, including Atlanta; Charlotte, North Carolina; Miami, Phoenix and Tampa. Other cities where renters are feeling the tightest pinch include Baltimore, Cincinnati, Las Vegas, New York and San Diego.
The cost of renting began its sharp climb during the pandemic, as demand roared due to Americans fleeing major urban centers and opting for more space away from neighbors in the suburbs and rural areas. Rent is still increasing, housing experts say, just at a much slower pace than in recent history.
On Nov. 13, 2016, Dr. Eric "Scott" Sills, a renowned California fertility doctor, called 911 and reported finding his wife and business partner Susann Sills unresponsive at the bottom of the stairs. An initial investigation revealed some evidence that was consistent with an accidental fall. But as "48 Hours" correspondent Tracy Smith reports, other evidence pointed to something more sinister. DETECTIVE: How do you know she — she got an email? MARY-KATHERINE SILLS: I woke up and my dad was just like on the covers just laying there like there wasn't enough room to get in I guess. So, he was just laying there.