Landlords will almost always remember to increase your rent each year. Maybe it’s just a few percent, maybe it’s a few hundreds of dollars. Or you may be one of the lucky few not to see your rent jump. Whatever it is, enjoy it while it lasts — it’s only getting worse.

Rent increases are expected to get steeper with the rental vacancy rate hitting a 30-year low of 6.8% this quarter, the U.S. Census Bureau announced on Tuesday. That means about 93.2% of America’s rental housing units are rented out — a level of demand the nation hasn’t seen since 1985. As a result, economists predict rent increases are “set to accelerate” to about 5% this year and the next, marking one of the highest periods of rent growth on record, according to Bloomberg News.

The upside, however hard to see, is that it might be time to consider actually purchasing an apartment or house. That could also help lift up a flagging homeownership rate, a trend tied to all sorts of economic woes.

The Leadership Brief. Conversations with the most influential leaders in business and tech. Please enter a valid email address. Sign Up Now Check the box if you do not wish to receive promotional offers via email from TIME. You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Thank you! For your security, we've sent a confirmation email to the address you entered. Click the link to confirm your subscription and begin receiving our newsletters. If you don't get the confirmation within 10 minutes, please check your spam folder.

Contact us at letters@time.com.