A TikTok user described his experience with one of the most feared and life-changing price increases: rent.
He told his followers about the terms of renting a house in Dallas, Texas, where his story is only one of many.
TikTok user @goldenflacko4 created a video to highlight the disparity between rent and income.
According to the user, he has been living in Dallas and in the same apartment for three years. The TikTok user claimed to have paid roughly $1,295 each month for all of those years.
This time, though, his rent increased by about $500. He will pay $1,715 when his lease is renewed.
He also mentioned that, while his rent hasn’t risen “as much,” it is still exorbitant.
Salary is also not keeping up with the expense of living, and despite the rise, the flat stays unaltered.
Sadly, his tale is not unusual. Young professionals around the country are attempting to achieve a balance between safety, comfort, and commuting times.
More commuting time means less rent. Sometimes the location is less safe, and comfort is not a concern for the landlord.
Rent is not as strictly regulated in Texas.
Sandy Rollins, executive director of the Texas Tenants’ Union, told WFAA that they’re working on a case involving a 66-year-old man whose rent was raised by over $1,000.
Because there are no rent rules in Texas, landlords can raise rent as much as they wish and as frequently as they desire.
Rollins also revealed that rent is not linked to the consumer price index. It also does not take into account how long you’ve been renting or what you can afford.
Just last May, the United States set another real estate record.
The national median rent in April was $1,827 per month. This is a 16.7% increase over the previous year. It also shows no indications of slowing down. They predicted that by August, the median would have risen to more than $2,000.
The rise, however, varies by state. The smallest rise was 5.5% in Detroit, while the largest increase was 52% in Miami.
Price is also influenced by demand. The Dallas-Fort Worth Metroplex, where @goldenflaco4 presently resides, acquired about 100,000 additional people in a year.
@goldenflacko4 #greenscreen yall better get ready ro start the rapture!! Because this isnt it!! #dallastx #dallas #recession #inflation #rent #dallaslife #rent #landlord ♬ BREAK MY SOUL – Beyoncé
People in the comments section expressed sympathy for the TikTok user.
In the video below, you can see the reality that this TikTok user has to confront.