Rents are consuming a higher percentage of peoples income! (Interactive Charts)

By | April 16, 2014
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Also at the Hallmark Abstract Service blog in time for the NBA playoffs: ‘NBA Chart: Playoff/Regular Season ticket price comparison!‘

title insurance, New York,New York City,Long Island,Michael HaltmanAnd in some locations the percentage of household income going to paying rent can be close to 50%!

On an historical basis the median household has typically spent in the range of 24.9% of income to rent a median or average home. Today that number stands at 29.6% and in some metro areas goes much higher approaching 50%.

And at the same time that rents were increasing, household income growth was certainly not increasing at the same pace.

Percentage of income devoted to rent!

Interactive map of mortgage and rental affordability!


Chart source ___________________________________________________________________

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