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

By | April 16, 2014

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 ___________________________________________________________________

Buyers of Residential or Commercial Real Estate in New York State or anyone refinancing an existing mortgage there can potentially save hundreds of dollars in closing costs with Hallmark Abstract Service! Click here to learn more.
Attorney’s and mortgage professional who have questions about HAS or the way in which we conduct our business please contact Michael Haltman by phone at 516.741.4723 or by email at
Get new Hallmark Abstract Service articles directly into your in-box by clicking the Follow Tab in the bottom right-hand corner of any of our website pages!
Please send your comments, questions, thoughts and ideas for new content to!

Hallmark Abstract Service content created by Michael Haltman

Leave a Reply

Your email address will not be published.