"Soaring rents" means that the cost of renting a place, such as a house or apartment, is increasing rapidly and significantly.
Sentences with «soaring rents»
A combination of soaring rents, cuts to benefits, and a shortage of social housing has created a crisis in affordable housing in the capital. (politics.co.uk)
With soaring rents and a lack of social housing, this has left many facing homelessness. (theguardian.com)
The report found that shelter costs rose by close to six per cent this year to $ 76 a month because of soaring rents in Vancouver and «modest» increases in utilities and telephone expenses. (thetyee.ca)