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Rent prices are skyrocketing this year, with the nation's largest rent hikes exceeding 30%. Nationwide rent prices in July hit a record high for the 17th consecutive month, averaging a 12.3% increase year over year. Cities like San Francisco, Austin, and New York are experiencing rent increases of over 20-60%, with a one-bedroom in NYC nearing $4,000 a month. Even cities like Fresno and Tulsa are seeing close to a 40% increase. These drastic rent hikes are worrisome for many, as the cost of living continues to rise.