Although inflation rates have cooled since their recent highs, that doesn’t mean that things are getting cheaper for everyday Americans.
Today, Americans seeking rental housing are finding that prices are higher than ever. Although many headlines focus on food prices, the Bureau of Labor Statistics found that rent was among the largest contributors to inflation—and rises in rent prices have typically outpaced both inflation and income growth by a significant margin.
“Rent prices have surged by 208% since 1985 from $378 a month to $1,163, outpacing inflation by 40% and income by 7%,” reads a press release from Real Estate Witch.
Now, a user on TikTok has sparked discussion after showing what this discrepancy between rental price payments across generations actually looks like.
In a video with over 336,000 views, TikTok user Bre (@captainmooseknuckless) asks several people across generations how much they paid for their first apartment.
Answers vary considerably. At the lowest, several Baby Boomers say they paid around $100 for either a one-bedroom apartment or half of a shared rental, with one man saying he paid just $50 for his portion of the rent.
In contrast, answers from younger people list significantly higher dollar amounts, even after including inflation. For example, one Gen-Z interviewee claims that their first one-bedroom rental cost them $3,000 per month.
“Inflation really needs to be addressed in this country!!” Bre wrote in the caption. “We Gen z are suffering!!”
@captainmooseknuckless I WISH!!! 😭😭😭 context: I'm asking each generation what the rent for their first apartment was. HUGE DIFFERENCES. inflation really needs to be addressed in this country!! we Gen z are suffering!! #boomers #genz #genx #millennials #inflation #rent #babyboomers ♬ original sound – 𖤐
In the comments section, users expressed surprise at the wide array of rental prices.
“Imagine paying rent with one hundred dollar bill and getting change back,” wrote a user.
“This is crazy. I calculated inflation on the first guys apartment and it would be about $900 today,” added another. “Nothing like the $3,000 people are paying rn.”
“My grandmother bought her house for 13k in 1945,” offered a third.
Many simply shared their disappointment at the current state of rental prices in America.
“The worse part is those same apartments look the same and cost 3x that now,” said a commenter.
“This is quite literally soul crushing as someone trying to move out,” declared a second.
The Daily Dot reached out to Bre via email.
