There's no doubt about it: Rent is going up across much of the country.

According to the Consumer Price Index, costs for shelter rose 8% over the past year, outpacing overall consumer prices and accounting for a major reason inflation persists, since shelter makes up roughly a third of consumer spending.

Median rents in Manhattan, the most expensive rental market in the country, just touched another record high at $4,241 in April, and Zillow said that rents increased 0.6% nationally from April to May. 

Continue reading

Source Fool.com