Number of markets where renters need to earn $100K to afford rent has doubled since 2020
Zillow's latest analysis reveals a significant surge in rental affordability challenges across the US. The income required to comfortably afford rent nationwide has jumped to $80,000 from $60,000 five years ago. Eight major metro areas now require six-figure incomes to afford rent, double the number from 2020.
The most expensive markets are San Jose ($137K), New York ($136K), and Boston ($127K), while the most affordable are Buffalo ($55K), Oklahoma City ($56K), and Louisville ($57K). Typical US rent has increased by 28.7% for apartments and 42.9% for single-family homes since April 2020, outpacing the 22.5% growth in median household income.
In six of the eight most expensive markets, median households spend over 30% of income on rent, except for San Jose and San Francisco, where wages have better kept pace with rental costs.
L'ultima analisi di Zillow evidenzia un notevole aumento delle difficoltà nell'accessibilità agli affitti negli Stati Uniti. Il reddito necessario per permettersi comodamente un affitto a livello nazionale è salito a 80.000 dollari, rispetto ai 60.000 di cinque anni fa. Otto grandi aree metropolitane ora richiedono un reddito a sei cifre per poter pagare l'affitto, il doppio rispetto al 2020.
I mercati più costosi sono San Jose (137.000$), New York (136.000$) e Boston (127.000$), mentre quelli più accessibili sono Buffalo (55.000$), Oklahoma City (56.000$) e Louisville (57.000$). L'affitto medio negli USA è aumentato del 28,7% per gli appartamenti e del 42,9% per le case unifamiliari dal aprile 2020, superando la crescita del 22,5% del reddito mediano delle famiglie.
In sei delle otto aree metropolitane più costose, le famiglie medie spendono oltre il 30% del reddito per l'affitto, ad eccezione di San Jose e San Francisco, dove i salari sono riusciti a tenere meglio il passo con i costi degli affitti.
El último análisis de Zillow revela un aumento significativo en los desafíos para la accesibilidad a los alquileres en todo Estados Unidos. El ingreso necesario para permitirse cómodamente el alquiler a nivel nacional ha aumentado a 80,000 dólares, desde los 60,000 hace cinco años. Ocho grandes áreas metropolitanas ahora requieren ingresos de seis cifras para pagar el alquiler, el doble que en 2020.
Los mercados más caros son San José (137K$), Nueva York (136K$) y Boston (127K$), mientras que los más asequibles son Buffalo (55K$), Oklahoma City (56K$) y Louisville (57K$). El alquiler típico en EE. UU. ha aumentado un 28,7% para apartamentos y un 42,9% para casas unifamiliares desde abril de 2020, superando el crecimiento del 22,5% en el ingreso medio de los hogares.
En seis de las ocho áreas metropolitanas más caras, los hogares medianos gastan más del 30% de sus ingresos en alquiler, excepto en San José y San Francisco, donde los salarios han mantenido mejor el ritmo con los costos de alquiler.
Zillow의 최신 분석에 따르면 미국 전역에서 임대료 부담 문제가 크게 증가했습니다. 전국적으로 임대료를 무리 없이 감당하기 위해 필요한 소득은 5년 전 60,000달러에서 80,000달러로 상승했습니다. 8개의 주요 대도시 지역에서는 이제 임대료를 감당하기 위해 6자리 수 소득이 필요하며, 이는 2020년의 두 배에 해당합니다.
가장 비싼 시장은 샌호세(137,000달러), 뉴욕(136,000달러), 보스턴(127,000달러)이며, 가장 저렴한 곳은 버팔로(55,000달러), 오클라호마시티(56,000달러), 루이빌(57,000달러)입니다. 미국의 일반적인 임대료는 2020년 4월 이후 아파트는 28.7%, 단독 주택은 42.9% 상승하여 중간 가구 소득의 22.5% 증가를 앞질렀습니다.
가장 비싼 8개 시장 중 6곳에서는 중간 가구가 소득의 30% 이상을 임대료로 지출하고 있으며, 샌호세와 샌프란시스코는 임대료 상승에 비해 임금이 더 잘 따라가고 있는 예외입니다.
La dernière analyse de Zillow révèle une forte augmentation des difficultés d'accessibilité aux loyers à travers les États-Unis. Le revenu nécessaire pour se permettre un loyer confortablement à l'échelle nationale est passé à 80 000 $ contre 60 000 $ il y a cinq ans. Huit grandes zones métropolitaines nécessitent désormais un revenu à six chiffres pour payer un loyer, soit le double par rapport à 2020.
Les marchés les plus chers sont San Jose (137 000 $), New York (136 000 $) et Boston (127 000 $), tandis que les plus abordables sont Buffalo (55 000 $), Oklahoma City (56 000 $) et Louisville (57 000 $). Le loyer moyen aux États-Unis a augmenté de 28,7 % pour les appartements et de 42,9 % pour les maisons individuelles depuis avril 2020, dépassant la croissance de 22,5 % du revenu médian des ménages.
Dans six des huit marchés les plus chers, les ménages moyens consacrent plus de 30 % de leurs revenus au loyer, à l'exception de San Jose et San Francisco, où les salaires ont mieux suivi l'évolution des coûts locatifs.
Zillows neueste Analyse zeigt einen deutlichen Anstieg der Herausforderungen bei der Mietbezahlbarkeit in den USA. Das Einkommen, das landesweit benötigt wird, um die Miete komfortabel zu bezahlen, ist von 60.000 auf 80.000 US-Dollar gestiegen. Acht große Metropolregionen erfordern nun sechsstelliges Einkommen, um Mieten zu bezahlen – doppelt so viele wie 2020.
Die teuersten Märkte sind San Jose (137.000 $), New York (136.000 $) und Boston (127.000 $), während die günstigsten Buffalo (55.000 $), Oklahoma City (56.000 $) und Louisville (57.000 $) sind. Die typischen Mieten in den USA sind seit April 2020 um 28,7 % bei Wohnungen und 42,9 % bei Einfamilienhäusern gestiegen, was das Wachstum des mittleren Haushaltseinkommens von 22,5 % übertrifft.
In sechs der acht teuersten Märkte geben mittlere Haushalte mehr als 30 % ihres Einkommens für Miete aus, mit Ausnahme von San Jose und San Francisco, wo die Löhne besser mit den Mietkosten Schritt gehalten haben.
- Wages in San Jose and San Francisco have kept better pace with rent increases, with median households spending 25% and 28% of income on rent respectively
- Some markets remain affordable with Buffalo, Oklahoma City, and Louisville requiring only $55-57K income for rent
- Recent legislative changes like the FARE Act may help reduce rental barriers in expensive markets
- Nationwide rental income requirements increased by $20K in five years, from $60K to $80K
- Rent growth (28.7% for apartments, 42.9% for homes) has significantly outpaced wage growth (22.5%)
- Eight major markets now require six-figure incomes for rent, double from 2020
- Six out of eight expensive markets have median households spending over 30% of income on rent
- High upfront costs including broker fees, security deposits, and advance rent payments create additional affordability barriers
Insights
Zillow's data shows a rapidly widening affordability gap for renters nationwide, with wages significantly lagging behind rental increases since 2020.
Zillow's latest rental affordability analysis reveals a troubling affordability crisis that has accelerated dramatically over the last five years. The data shows rent has outpaced wage growth by a substantial margin - while the
The doubling of markets requiring six-figure incomes (from four to eight) represents a significant structural shift in rental economics. These high-barrier markets now include San Jose (
The median U.S. renter now sits precariously at
The upfront cost barrier highlighted in the analysis is often overlooked in affordability discussions but represents a significant mobility constraint. High security deposits, first/last month requirements, and broker fees (particularly in New York and Boston) effectively lock lower-income renters in place, preventing them from accessing better housing options or relocating for employment opportunities.
While the analysis correctly identifies Buffalo, Oklahoma City and Louisville as the most affordable markets, it's notable that even these "affordable" areas have seen required income increases between
Nationwide, the salary required to afford rent is
- Renters need to make six figures to comfortably afford rent in eight major markets, up from four markets five years ago.
- The most expensive rental markets, with the highest required income, are
San Jose ($137 KNew York ($136 KBoston ($127 K - The most affordable rental markets, with the lowest required income, are
Buffalo ($55 KOklahoma City ($56 KLouisville ($57 K
Since April 2020, rent for a typical
"Housing costs have surged since pre-pandemic, with rents growing quite a bit faster than wages," said Orphe Divounguy, senior economist at Zillow. "This often leaves little room for other expenses, making it particularly difficult for those hoping to save for a down payment on a future home. High upfront costs are often overlooked, which can keep renters in their current homes."
A renter making the median income and leasing a typical
In six of these eight markets, the median household would spend over
Despite a significant jump in rents over the past five years, plenty of markets are still affordable for median earners. The most affordable rental markets are
Beyond high monthly rent prices, large upfront costs can pose a barrier for renters looking to move. This is especially true in cities like
To help renters make informed choices, Zillow offers a rent affordability calculator that sheds light on housing budgets, ensuring that they know exactly what they can afford. Renters searching on Zillow can explore a wide range of rental options tailored to their needs. Whether they're looking for a one-bedroom apartment, a townhome, a single-family home or a room for rent, Zillow's listings make it easy to find a place that suits everyone's lifestyle.
Metropolitan Area* | Income Needed | Change in Needed | Zillow Observed | Renter Affordability, April |
34.5 % | 29.6 % | |||
28.9 % | 40.0 % | |||
28.3 % | 36.4 % | |||
31.1 % | 28.3 % | |||
28.6 % | 23.2 % | |||
23.4 % | 24.2 % | |||
24.4 % | 22.6 % | |||
29.0 % | 25.2 % | |||
54.4 % | 40.4 % | |||
36.3 % | 25.0 % | |||
26.8 % | 32.5 % | |||
35.9 % | 24.5 % | |||
9.3 % | 27.6 % | |||
45.6 % | 32.8 % | |||
38.5 % | 23.5 % | |||
23.2 % | 23.1 % | |||
17.6 % | 20.2 % | |||
40.8 % | 33.2 % | |||
52.0 % | 33.5 % | |||
22.8 % | 21.6 % | |||
29.6 % | 22.6 % | |||
37.4 % | 20.8 % | |||
37.5 % | 29.6 % | |||
35.8 % | 25.0 % | |||
19.4 % | 22.7 % | |||
24.2 % | 22.0 % | |||
30.7 % | 27.8 % | |||
28.2 % | 23.2 % | |||
39.5 % | 23.0 % | |||
17.6 % | 19.8 % | |||
35.6 % | 26.8 % | |||
38.7 % | 21.9 % | |||
36.9 % | 22.9 % | |||
41.6 % | 23.3 % | |||
40.9 % | 24.4 % | |||
13.0 % | 25.2 % | |||
28.8 % | 24.7 % | |||
43.0 % | 25.5 % | |||
51.2 % | 29.7 % | |||
36.7 % | 25.9 % | |||
32.6 % | 21.6 % | |||
33.4 % | 22.5 % | |||
31.0 % | 20.6 % | |||
37.7 % | 26.0 % | |||
40.2 % | 22.7 % | |||
35.7 % | 23.3 % | |||
28.7 % | 30.5 % | |||
34.2 % | 20.8 % | |||
45.2 % | 23.6 % | |||
38.9 % | 22.3 % | |||
32.7 % | 23.4 % |
*Table ordered by market size
**Includes only
About Zillow Group
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1 Median household income is taken from the American Community Survey (ACS) through 2023. Present-day estimates combine changes in the Employment Cost Index provided by the Bureau of Labor Statistics to forecast current median household income. |
2 Smoothed and seasonally adjusted ZHVI. |
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