Some of these locations have seen rents leap by 25% or more. Anyone shopping for a home knows that asking prices are soaring. But the situation isn’t much better for renters, as a new Realtor.com report shows. The median monthly U.S. rental price increased 11.5% year over year in August, to $1,633. That makes August 2021 the first month on record to see double-digit rent growth. In 10 cities, rents have exploded. In fact, some of these locations have seen rents leap by 25% or more.