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Rent Burden Highest in Florida and California

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 · In fact, nearly a third of all cost-burdened renters come from either California, New York or Florida. In Sacramento, part of the problem is rent growing faster than incomes.

With rents rising faster than wages, the burden of affording rent is looming larger and larger for many Americans, and in some cases becoming insurmountable. According to the Zillow Group consumer housing trends Report 2017 , 79 percent of renters who moved in the last 12 months experienced an increase in their monthly rent before moving to a.

“Many people sell their home in California, and then they pay all cash for a home in another state,” Dorsey says. “They are able to move to Texas or Florida. rent can go up,” Dorsey says. And you.

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This is not to say that income inequality is the only factor leading to very high rent burdens. Inequality is at its greatest in affluent counties. Manhattan (New York County) has the highest.

A new study finds that more than half of New Yorkers who rent devote more than 30 percent of their income to rents. But when it comes to income versus rent, New York City isn’t the most.

The rent check can sting in Southern California. The regional cost of renting has surged at double the pace of overall inflation so far this century. Renters in Los Angeles and Orange counties.

 · Although they pay the highest rents ($1,050), Gen Xers also have the highest median income ($44,700). A few of the MSAs where Gen X renters are most cost-burdened will look familiar. Miami -Fort Lauderdale-West Palm Beach, FL, takes the top spot, with 58.1% of Gen Xers spending more than 30% of their income on rent.

San Jose is a place where rents are high – regardless of the methodology to measure burden – and the high rent levels are burdensome for households. In comparing all four reports, we see that the differences can be attributed to how they assess affordability of the metros as well as how the data is analyzed. Florida

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