We live in a for-profit community in the Chicagoland area. The increases for 2022 and 2023 were larger than in previous years (6.25% and 9.8% respectively) due to the rising costs of staff, food, and everything else. The total percent of the increases between 2020 and 2023 for two of us was 23.87%. We don't yet know what the increase will be for 2024. While these increases have been substantial, they are nowhere near 80%. That seems way out of line.
Our community is well run and the management is very transparent about the finances (both revenue and costs). Every year, they explain the next year's budget to residents, and our Resident Advisory Council and Finance Committee are highly interactive with the management and owners.