US renters are facing a 26% increase in prices compared to 2020, with half of renter households spending over 30% of their income on rent. Nearly a third spend more than half of their income on rent. National rent index up 0.4% in June, showing slowing growth. Renters need to earn $66,120 to afford the typical US apartment, but the typical renter makes $11,000 less than that.
The income required to afford the typical apartment is at the highest level since October 2022. It’s up 1% year over year and up 23% from before the pandemic, as that’s how much rent prices have risen 👉 https://t.co/2xfWMMB3gW #rental https://t.co/8YQHcihrAi
#Renters Must Earn $66,120 to Afford the Typical U.S. Apartment. The Typical #Renter Makes $11,000 Less Than That. via @Redfin https://t.co/PrXkXtpx0G #RealEstate #RealEstateAdvice
Did that really say $2k a month for rent? I know it’s Canadian dollars but still… 😳😳😳 https://t.co/dhc1xb8Pgd
🚨 New rent data for June out now 🚨 Our national rent index is up 0.4% this month But even though rents are still inching up, growth is slowing down at the time of year when its normally peaking 1/🧵 https://t.co/Pilc0MjymV
https://t.co/InB19XQ2Lo $90/sf and leased. In-place rents must be like $15 gross or something crazy.
#New: For US renters, prices are, on average, 26% higher than they were in 2020. -Half of all renter households spend more than 30% of their income on rent. -Close to a third spend more than half of their income on rent. Source: @Harvard_JCHS