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Rent prices skyrocket across Central Texas

Posted at 5:10 PM, Feb 23, 2022
and last updated 2022-02-23 18:10:12-05

WACO, TX — If you've signed a lease lately, the price of monthly rent probably shocked you. It's impacting people in every county of Central Texas.

The question we are asking -- what would you do with $200?

A few options: You could pay two water bills in Waco, get a month's worth of groceries, or even buy a teacup Yorkie.

We ask the question -- because that's how much Melissa Turner's rent has gone up from last year.

"I got the call, come February it would be $850," Turner said.

Turner said, she's already having to pinch pennies, as these prices go up. She's stretching her dollar a little farther.

"Everything hit right after Christmas and it was not an easy adjustment," Turner said.

The City of Waco said the reason behind the hike comes down to a few factors: Inflation.

As things get more expensive, landlords and properties have to compete. It also comes down to supply and demand. The economy in Waco is booming more companies moving in like Amazon and Hello Bello.

It brought in more people, but the same amount of places to live driving those prices up. On average, apartment prices are up around $200 a month. Turner saying she'd rather spend it elsewhere.

As things continue to change, Turner keeps that question in the back of her mind: what would you rather do with that money?