Consumer News: Home rental prices up in Columbia and across the U.S.

Consumer News with ABC Columbia is brought to you by Grow Financial.

COLUMBIA, SC (WOLO)– It’s getting more expensive to live in the Capital City. A report from from apartmentlist.com shows rent in Columbia is up 1.3% over the past month. Year-over-year rent growth in Columbia currently stands at more than 16%. That’s more than doubled, compared to roughly 7% at this time last year. Renters are paying an average of roughly $1,040 just for a one bedroom apartment.

CNN– New data released this week shows overall U.S. home prices jumped nearly 20% year-over-year in February. That’s according to “S&P’s U.S National Home Price Index.” Experts say prices for both homes and rentals are not going to crash anytime soon. So, what’s being done to bring down these sky high prices and help those who are struggling? Mike Valerio has some answers from the front lines of the crisis