https://www.cbsnews.com/news/inflation-gas-prices-rent-electricity-bills-rise/
Zachary Lloyd makes $14,800 a year as a graduate teaching assistant at Florida State University — right around the poverty line for a single adult. So the 25-year-old was looking forward to a pay increase starting this fall that would net him about $1,000 more, just about covering his higher costs for groceries, fast food and gasoline.Then his lease came up for renewal, and Lloyd learned his management company was raising the rent on the Tallahassee apartment he shares with a fellow student by $250 a month.
“I was shocked when I opened the letter today — it was almost 18%, which is not covered by a pay raise,” he told CBS MoneyWatch.
Lloyd is facing a dilemma distressingly common among America’s 120 million renters. With the cost of rent, transportation and utilities all rising at double-digits, many households are forking over last year’s pay increases, and then some, just to make ends meet.