A lack of affordable real estate is driving higher rent costs in Connecticut.

Caleb Silver with Investopedia says because inventory is so tight, New Haven has seen an 18.4% increase in rent year over year.

Silver says there was a lot of inventory at the beginning of the year, but not so much throughout the year which caused prices to go up.

Hartford saw an 11.5% increase in rents and Fairfield County saw up to a 10.4% increase.

However, Silver says he doesn't think prices are going to stay that high going through 2022 but he says they won't come down much either.