The Coastal Packet: Class gentrification of Portland

Tuesday, June 23

Class gentrification of Portland

Sun Journal - Home rental prices are climbing across much of the United States — with the biggest gains coming from not from New York or San Francisco but Jackson, Mississippi, and Portland, Maine.

Two smaller cities led the gains in May. Houses in the Mississippi capital of Jackson are renting monthly for $1,169, a 22.7 percent yearly increase. On the northeastern end of the United States, rental prices in Portland have shot up 17.4 percent.

The steadily rising costs of renting houses and apartments are creating new financial pressures for many Americans. Rental prices have grown at roughly double the rate of wages, forcing more Americans to limit their spending elsewhere or cutting into their savings.

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