Monthly Income to Afford Rent: DC $8,487, CA $8,313, HI $7,806, NY $7,223 MA $7,193, NJ $6,717

[goldenequity]

The "Rental Affordability Crisis" Explained In Three Charts
https://www.zerohedge.com/news/2018-...ned-two-charts

Four years ago, the United States Department of Housing and Urban Development (HUD) warned of "the worst rental affordability crisis ever," citing data that:

"About half of renters spend more than 30% of their income on rent, up from 18% a decade ago, according to newly released research by Harvard's Joint Center for Housing Studies. Twenty-seven percent of renters are paying more than half of their income on rent."

[DamianTV]

Never ever good.

[CaptainAmerica]

average rent here in AZ if you want to avoid disgusting bed bug infested apartments, is 1000 on a single bedroom apartment in most places. Rent is being driven up by everyone moving here from Marxistfornia .

[CaptainAmerica]

The "Rental Affordability Crisis" Explained In Three Charts
https://www.zerohedge.com/news/2018-...ned-two-charts

Four years ago, the United States Department of Housing and Urban Development (HUD) warned of "the worst rental affordability crisis ever," citing data that:

"About half of renters spend more than 30% of their income on rent, up from 18% a decade ago, according to newly released research by Harvard's Joint Center for Housing Studies. Twenty-seven percent of renters are paying more than half of their income on rent."

this makes sense...
everyone in their 25-30s rents their home now from 40-60 year old carpet bagging slumlords who profited on the crash of 2008 and foreclosures, also the foreclosures led to a market of renters that will probably never ever reverse...thus skyrocketing rent for anyone in their 18-20s.

[UWDude]

average rent here in AZ if you want to avoid disgusting bed bug infested apartments, is 1000 on a single bedroom apartment in most places. Rent is being driven up by everyone moving here from Marxistfornia .

Where I live, (Seattle are) you can not find a studio apartment for less than $1100.

Rent and housing prices should have corrected in 2008. Instead, the owners got bailed out.

[kahless]

Besides the cultural issues promoted by Hollywood this is why the young people are not settling down and having children. By continuing down this path it gives the globalists an excuse for open border immigration for replacement numbers.

[Krugminator2]

this makes sense...
everyone in their 25-30s rents their home now from 40-60 year old carpet bagging slumlords who profited on the crash of 2008 and foreclosures, also the foreclosures led to a market of renters that will probably never ever reverse...thus skyrocketing rent for anyone in their 18-20s.

Nice to see the Communist view expressed on Ron Paul Forums.

But as Walter Block would say "slumlords" are heroes as well as the speculators who stepped in to buy during the plunging market. https://mises.org/library/defending-slumlord

[angelatc]

Where I live, (Seattle are) you can not find a studio apartment for less than $1100.

Rent and housing prices should have corrected in 2008. Instead, the owners got bailed out.

Housing prices corrected. We bought a home for $60k that I could now sell for $150K .

[angelatc]

Nice to see the Communist view expressed on Ron Paul Forums.

But as Walter Block would say "slumlords" are heroes as well as the speculators who stepped in to buy during the plunging market. https://mises.org/library/defending-slumlord

In before "muh student loan debt!!!"

[Kilrain]

Housing prices corrected. We bought a home for $60k that I could now sell for $150K .

Houses prices dipped, not sure I would say they corrected, since they were reinflated by low interest rates.

[angelatc]

Houses prices dipped, not sure I would say they corrected, since they were reinflated by low interest rates.

I didn't say they didn't reinflate - I think I would never pay $150k for the house I am in now.

[Zippyjuan]

The "Rental Affordability Crisis" Explained In Three Charts
https://www.zerohedge.com/news/2018-...ned-two-charts

Four years ago, the United States Department of Housing and Urban Development (HUD) warned of "the worst rental affordability crisis ever," citing data that:

"About half of renters spend more than 30% of their income on rent, up from 18% a decade ago, according to newly released research by Harvard's Joint Center for Housing Studies. Twenty-seven percent of renters are paying more than half of their income on rent."

It is Zerohedge which likes to give the worst possible spin on things but their figures are wrong. Average rent in California is $1300 a month. https://www.deptofnumbers.com/rent/california/

If you used their 30% of income going to rent, that would mean a monthly income of $4,300- not over $8000. They probably just chose some of the worst examples (as they tend to do). For it to be $8,487 a month income needed, that would make average rent $2500 a month.

Monthly Income to Afford Rent: DC $8,487, CA $8,313, HI $7,806, NY $7,223 MA $7,193, NJ $6,717

[dannno]

Average rent in California is $1300 a month. https://www.deptofnumbers.com/rent/california/

Hah, you can't rent a studio here for less than $1,150.. and rent is way cheaper where I am than if you go up to some areas in the Bay.

A 3 bedroom house here typically rents for about $3,400.

I dunno where they get those stats, I mean Bakersfield and some areas are pretty cheap but nothing near the coast or any major metro areas.

[oyarde]

Where I live I would make 8K last for several months while living like a king .

[homahr]

Besides the cultural issues promoted by Hollywood this is why the young people are not settling down and having children.

Hollywood's power to influence cannot be understated, and not just at a national US level, but at a global level.

Strong religious foundations are needed to counter Hollywood's degeneracy (see Putin's Russia) and I'm not seeing that here among the people in the US.

[Zippyjuan]

Hah, you can't rent a studio here for less than $1,150.. and rent is way cheaper where I am than if you go up to some areas in the Bay.

A 3 bedroom house here typically rents for about $3,400.

I dunno where they get those stats, I mean Bakersfield and some areas are pretty cheap but nothing near the coast or any major metro areas.

Some places are more expensive and some places are less expensive. That is how we get an average.

[dannno]

Some places are more expensive and some places are less expensive. That is how we get an average.

All of the desirable places in California happen to cost the amount that matches the income percentages in the article. Anywhere else is kind of a $#@!hole.. it's either desert or some really run down area.

Same with DC, that is what it costs to live in a desirable part of DC..

[brushfire]

The rent is too damn high.

[VIDEODROME]

I might be living rent free if I go back to long haul trucking. The rig will be my cramped studio on wheels.

[Anti Federalist]

And this was six years ago.

[Anti Federalist]

average rent here in AZ if you want to avoid disgusting bed bug infested apartments, is 1000 on a single bedroom apartment in most places. Rent is being driven up by everyone moving here from Marxistfornia .

How about that?

[susano]

The "Rental Affordability Crisis" Explained In Three Charts
https://www.zerohedge.com/news/2018-...ned-two-charts

Four years ago, the United States Department of Housing and Urban Development (HUD) warned of "the worst rental affordability crisis ever," citing data that:

"About half of renters spend more than 30% of their income on rent, up from 18% a decade ago, according to newly released research by Harvard's Joint Center for Housing Studies. Twenty-seven percent of renters are paying more than half of their income on rent."

And this was 2018, before a gazillion dollars were cranked out and added to the national debt/inflation. I saw a story, in the Daily Mail, about some girl who redid her sister's efficiency apartment in NYC. It was about 200 sq ft and the rent is 2600. per month.

[susano]

How about that?

Arizona is also one of the places targeted by Blackrock, et al. Plus, Airbnb is huge there - in residential neighborhoods.

[oyarde]

Median rent in Indiana is 1295. Id guess outside of a college town or large city you could still get in under 1k. Lots of Americans have new vehicle payments of 1k or more . Nationally median income is nearly unchanged from 24 yrs ago while median new homes went from just over 100k to over 400k. You live in the third world now with third world inflation , money supply , justice systems etc

[susano]

Median rent in Indiana is 1295. Id guess outside of a college town or large city you could still get in under 1k. Lots of Americans have new vehicle payments of 1k or more . Nationally median income is nearly unchanged from 24 yrs ago while median new homes went from just over 100k to over 400k. You live in the third world now with third world inflation , money supply , justice systems etc

And the disparity in wealth, which got way worse with the COVID cash bonanza. It's beginning to remind me of England with all of their $#@!ty welfare state, council housing, NHS, etc, while the aristocracy and monarchs are the land owners.