Cost of living is too high for a lot of people. The cost of living in the city is much higher than that of the suburbs, and it’s not uncommon for someone to spend over 70% of their income on rent.
The city is where a lot of opportunities are, with it being the center for most of our lives. With so many people trying to live in the city, apartments act as a commodity, being bought and sold as fast as they can be built. Landlords see this high demand and charge exorbitant prices just to make money off their property.