25 most unaffordable US metros for renters (live, cost, state, largest)
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With rental prices skyrocketing and real wages remaining stagnant, renters across the country are allocating a higher percentage of their spending to housing costs. There are currently over 42 million renter households in the U.S. (36 percent of total households), which represents the highest percentage of renters in more than 50 years. Additionally, many of these renters are categorized as low-income, which has significant implications for urban policy and housing development on a larger scale. Not surprisingly, the issue of affordable housing has become increasingly prominent over the past few years.
Yeah, DC is not really expensive when you factor in the median income here. The problem is more sticker shock than anything else. It’s not cheap, but you can afford it.
Dc is expensive..i can’t buy that wages are so much higher in dc that it is off this list entirely..either metro suburbs are way less expensive or for some reason the list excluded dc..
Dc is expensive..i can’t buy that wages are so much higher in dc that it is off this list entirely..either metro suburbs are way less expensive or for some reason the list excluded dc..
It’s not that wages for high-earning professionals are THAT much higher, but the high percentage of middle-class jobs created by the government and its contractors. The city also has a minimum wage of $13.25/hr, which helps keep the averages up.
It’s not that wages for high-earning professionals are THAT much higher, but the high percentage of middle-class jobs created by the government and its contractors. The city also has a minimum wage of $13.25/hr, which helps keep the averages up.
The consensus on this subject in Philadelphia (#24 on the Top 25 most unaffordable list) is that we have a problem with lack of income more than we have one with lack of affordable housing.
I'm sure most of you have heard the statistic that the core city itself is the poorest of the nation's 10 largest cities (just shy of 25 percent of Philadelphians live below the poverty line).
Those stats on DC suggest to me that higher minimum wages do make a difference. But the subject of raising the minimum wage within the city has not really gained traction. Pennsylvania's minimum wage is the same as the federal minimum: $7.25 an hour, lower than in every other state bordering it - much lower, in a few cases.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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We are number 84 on the 150 list, but that's for the whole metro. I had seen last year that the city of Phoenix by itself was the 9th most unaffordable city for renters based on median rent to median income
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