The bar chart provides information on the average monthly rental costs from 2002 to 2022 in five cities worldwide — Los Angeles, Dublin, Melbourne, Vancouver, and Seoul.
Overall, there was a significant increase in rent prices in all cities over the 20-year period, with seoul experiencing the highest rise and Melbourne the lowest.
In 2002, Dublin and Seoul had the lowest rents, both under $500 per month. By 2012, rents in Dublin had risen to $600, while Seoul increased to $700, $100 higher than Dublin. In 2022, Seoul saw the largest increase, exceeding $2,000, while Dublin increased more slowly, reaching nearly $1,500.
Los Angeles, Vancouver, and Melbourne followed different trends. In 2002, Los Angeles started at $600, rising to $1,200 in 2012 and reaching $1,600 in 2022, the highest among all. Both Vancouver and Melbourne started under $500 in 2002 and saw steady increases. By 2012, both were above $500. By 2022, Dublin was close to $1,500, while Melbourne had the lowest at around $1,300. Both cities increased more slowly than Los Angeles.