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News@lemmy.world · 2 months ago

Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago

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Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago

return2ozma@lemmy.world to

News@lemmy.world · 2 months ago

cross-posted to:
[email protected]

“Since pre-pandemic, the income needed to afford rent has increased by 31.5%,” Zillow’s chief economist, Skylar Olsen, wrote yesterday.

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2 months ago
That’s the general rule of thumb that I learned as well… try to stay within 1/4th of salary for mortgage/rent.

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