At our old house, our rent was going to go up by $20/week once our lease ran out. We really didn't think it was worth it so we moved instead! Lol. Now we are living in a house almost twice the size for the same price (before it went up), although we moved to a town an hour away!

What are the property values like where you live? Our landlord hadn't really done much to the property to justify the increase in rent, but I think it would also depend on surrounding property values, the fees the real estate charge for property management and interest rates (particularly if they are still paying off a mortgage on the property). I know it sucks

Make sure they have given you the correct notice period..I didn't think they could increase rent until your lease ran out? Or they would have to give you a fairly significant notice period if you are still in a lease agreement.
Next door have the same house as us (just in the reverse) and are paying $370 a week - and they have a dishwasher!!!!! Our rent will go up to $385 a week and we don't have a dishwasher (would be nice though) and the neighbours on the other side are paying $360 a week.
They have given us 60 days notice we aren't signed onto a lease anymore...just week by week.