4 Tenants’ rent, which rose 3.3 percent in 2021 and has already increased another 4.3 percent through the first seven months of 2022, is on pace to more than double this year. Similarly, owner’s equivalent rent rose by 3.8 percent in 2021 and has risen another 3.8 percent in the first seven months of this year. 3  -7term.
Quits are near their highest level over the 22 years that the government has tracked them, but they have come down from the start of this year, and further decreases would bring them closer to the level they were at immediately before the pandemic, when wages were growing much more slowly than today.