The 16 cities where Americans struggle the most to pay rent (Z) – Finance

  • According to Zilou, residents of 16 American cities spend a higher share of their income on rent than on the national level.
  • This is more difficult for the poor.
  • House prices have risen faster than incomes after the recession, and rising mortgage rates make the market more expensive.

Housing gets more inaccessible across America.

This is largely due to the fact that after a decline in housing prices grew faster than income, and builders are not able to keep up with the demand for affordable housing.

This affects both homeowners who pay mortgage loans, and people who rent. In accordance with Zillow, median rent in the United States requires 28.4% of the median income, compared with a historical average of 25.8%.

The financial burden is the worst for low-income tenants. For example, in Los Angeles, the rental price exceeds 100% of the typical income for the lowest-paid residents. "This leaves little room for realistic rent payments and other expenses for typical income, outside the housing subsidy, doubling the number of roommates or taking a second or even a third job to help make ends meet, "Cillow said in his report.

In the list below, based on Zillov's data, the cities of the USA are allocated, where the share of income spent on rent in the second quarter was higher than the general national level of 28.40% and is estimated at least the least. Financial planners usually recommend spending no more than 30% of gross rental income.

In all 16 cities, tenants spend more money on housing than on a historical trend.

Dallas-Fort Worth, TX


Dallas-Fort Worth, TX
play

Dallas-Fort Worth, TX

(Stephen Martin / Flickr)

Average income: $ 54876

Share of income spent on rent: 28.40%

Historical share of income spent on rent (1985-2000): 21.8%

Sources: Zillow, Census Bureau

Houston, TX


Houston, TX
play

Houston, TX

(F11photo / Shutterstock)

Average income: $ 47,010

Share of income spent on rent: 28.80%

Historical share of income spent on rent (1985-2000): 24.40%

Sources: Zillow, Census Bureau

Portland, Oregon


Portland, Oregon
play

Portland, Oregon

(Shutters)

Average income: $ 58,423

Share of income spent on rent: 29.90%

Historical share of income spent on rent (1985-2000): 23.50%

Sources: Zillow, Census Bureau

Seattle, Washington


Seattle, Washington
play

Seattle, Washington

(Elaine Thompson / AP)

Average income: $ 74,458

Share of income spent on rent: 30.90%

Historical share of income spent on rent (1985-2000): 23.80%

Sources: Zillow, Census Bureau

Tampa, Florida


Tampa, Florida
play

Tampa, Florida

(Ramunas Bruzas / Shutterstock)

Average income: $ 45,874

Share of income spent on rent: 31%

Historical share of income spent on rent (1985-2000): 27.60%

Sources: Zillow, Census Bureau

Orlando, FL


Orlando, FL
play

Orlando, FL

(Shutters)

Average income: $ 44007

Share of income spent on rent: 31.50%

Historical share of income spent on rent (1985-2000): 22.70%

Sources: Zillow, Census Bureau

Denver, Colorado


Denver, Colorado
play

Denver, Colorado

(EdgeOfReason / Shutterstock)

Average income: $ 56,258

Share of income spent on rent: 32%

Historical share of income spent on rent (1985-2000): 23.60%

Sources: Zillow, Census Bureau

Sacramento, CA


Sacramento, CA
play

Sacramento, CA

(Cassiohabib / Shutterstock)

Average income: $ 52071

Share of income spent on rent: 32.40%

Historical share of income spent on rent (1985-2000): 31.80%

Sources: Zillow, Census Bureau

Boston, Massachusetts


Boston, Massachusetts
play

Boston, Massachusetts

(Sean Pavon / Shutterstock)

Average income: $ 58516

Share of income spent on rent: 32.70%

Historical share of income spent on rent (1985-2000): 26.40%

Sources: Zillow, Census Bureau

San Jose, California


San Jose, California
play

San Jose, California

(Shutters)

Average income: $ 90,303

Share of income spent on rent: 35.60%

Historical share of income spent on rent (1985-2000): 26.10%

Sources: Zillow, Census Bureau

Riverside, CA


Riverside, CA
play

Riverside, CA

(Wikipedia)

Average income: $ 58,979

Share of income spent on rent: 36.80%

Historical share of income spent on rent (1985-2000): 32.70%

Sources: Zillow, Census Bureau

New York, New York


New York, New York
play

New York, New York

(Flick / Michael McDonough)

Average income: $ 55,191

Share of income spent on rent: 37.70%

Historical share of income spent on rent (1985-2000): 26.30%

Sources: Zillow, Census Bureau

San Francisco, California



play

(Richard Hayes / Flickr)

Average income: $ 87701

Share of income spent on rent: 39.20%

Historical share of income spent on rent (1985-2000): 30.60%

Sources: Zillow, Census Bureau

San Diego, California


San Diego, California
play

San Diego, California

(Shutters)

Average income: $ 68,117

Share of income spent on rent: 40.30%

Historical share of income spent on rent (1985-2000): 34.70%

Sources: Zillow, Census Bureau

Miami-Fort Lauderdale, Florida


Miami-Fort Lauderdale, Florida
play

Miami-Fort Lauderdale, Florida

(Joe Radel / Getty Images)

Average income: $ 41645

Share of income spent on rent: 40.30%

Historical share of income spent on rent (1985-2000): 28.60%

Sources: Zillow, Census Bureau

Los Angeles-Long Beach Anaheim, California


Los Angeles-Long Beach Anaheim, California
play

Los Angeles-Long Beach Anaheim, California

(Shutters)

Average income: $ 55,151

Share of income spent on rent: 46.90%

Historical share of income spent on rent (1985-2000): 36.30%

Sources: Zillow, Census Bureau

DO NOT MISS:


DO NOT MISS:
play

DO NOT MISS:

(Pedro Lastra / Unsplash)

Source link

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More