Is moisture in the engine bay a common problem with older vehichles?

[Lil Ape]

Every time we get a bit of rain and the humidity comes rolling in, my engine bay gets soaked with moisture. Quite annoying really. It's not really the engine bay that gets moisture, but really just the entire engine. All my new(cheap)chrome is beginning to rust already. Does anyone else have this problem with their old trucks/cars or is this just common? I have no weather stripping anywhere around the engine bay except for a hood cowl seal which I haven't put in yet.