Higher rental fees can be blamed on many things - WMC Action News 5 - Memphis, Tennessee

Higher rental fees can be blamed on many things

If you are paying a higher rent now than you were one year ago, you can blame home owners, home builders, and even the weather!

Memphis currently ranks #37 on a list of cities where residents pay the highest rent. A real estate data firm shows the market isn't slowing down for rent increases.

Experts say renters can thank Hurricane Katrina for price increases, because of the number of evacuees looking for shelter. Rising home costs have also created a bigger pool of renters, and in many areas, the number of apartments is shrinking.

The good news is, experts say recovery in the nation's rental market has been pretty quick.

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