Newsweek’s Post

Renters Must Earn $66,120 to Afford the Typical U.S. Apartment. The Typical Renter Makes $11,000 Less Than That. Just 39% of renters make enough to afford the median-priced apartment. The income renters need to afford the typical apartment is the highest since 2022 amid a rebound in asking rents, which are now just $47 shy of their record high. The typical U.S. renter household earns an estimated $54,712 per year. That’s 17.3% less—or $11,408 in dollar terms—than the $66,120 a renter must earn to afford monthly rent for the median-priced U.S. apartment ($1,653).

Are we hitting peak pricing renters can bear? "San Diego, the sixth most expensive rental market in the U.S. among metropolitan areas," also recently ranked first as the most expensive city to live in, is reaching its boiling point. San Diego's rent has increased by .03% year-over-year, with mid-tier and luxury buildings leading the region in rent growth at .04%. Talking to some seasoned operators, they have seen this as the coldest rental market in decades. Renters are coming to terms with higher groceries, gas, and student loan payments, while owners are experiencing higher utilities, insurance premiums, and interest rates. We have less than 60 days for operators to raise rents a full 10% (after July 31st, the max increase will be 8.6%), and beyond that, an election season with more rent control on the ballot. How will the rest of this graph play out, and will we see a net negative in rent growth come May 2025?

If you are in Rental mode, enjoy a breather in RENT increases and try to exert a little leverage if moving houses. (i think i like your place, but…how about some freebies landlords?) #realestateexperts have your back #EXPrealty #EXPcommercial

Over the last four years, rents in the West have climbed from an average rate of $1,831 in February 2020 to $2,204 in February 2024 – an increase of about 20%, according to data from RealPage Market Analytics. That is by far the slowest rate of growth nationwide. Meanwhile, rents in the South, Midwest and Northeast have climbed approximately 29% since February 2020. Nationwide, apartment rents have climbed 25.5% in the four-year period since February 2020 to stand at an average rate of $1,806 as of February 2024

Think your rent is just too high? Here’s a shocking reality check: Rents have actually been falling annually every month for nearly a year. Here is where rents are down the most annually 👉 https://zurl.co/7Pzg #realestatenews #realestate #housingmarket

Rent growth picked up in the start of 2024, taking rents to new record highs. Where will this end? There's certainly plenty of reason to build more homes. It will be interesting to see what solutions are announced in the budget. #affordablehousing #homeownership #renting

Highlights. Average rent prices have increased 8.85% per year since 1980, consistently outpacing wage inflation by a significant margin If Rents Double Every 20 Years and Housing Prices Seem to Double Every 20 Years; In 2064 the Average Rent will be roughly $7500/Month in Rent......NOW, there are truths about how Renting is better than buying a Home; BUT if you look at the Long-Term outlook of Renting vs. Buying...In 1 Year, in 40 Years, I'd be Spending $90,000 per Annum..........When we Weigh the Differences of Renting vs. Buying, What if You lived to 100 Years Old and paid $2500/Month for 60 Years with 0 Rent Increases? This Equals $1.8 Million......... Billionaires OWN 100+ Unit Apartment Complexes Globally for a Reason; Rents Double, Property Values Double https://lnkd.in/ewUrADsy

The pandemic moving frenzy is over and rental owners are grappling with vacancies due to a jump in apartment supply. Demand should remain solid, however, because buying a home is not gaining traction in this economic environment, the online brokerage said, keeping renting as a lifestyle choice alive and well, because home prices are rising much faster than rents. During the pandemic, rent growth was regularly measured in double-digits, but now, it’s stuck in a narrow range of between -2.1% and +2.4% for the past year. https://hubs.la/Q02mq6P_0

More housing is the solution for homeowners and renters alike Read: https://lnkd.in/gvexAyjm #AAGLA Renters

The demand for rental units is not letting up, with many renters seeing the possibility of home ownership out of their reach. Commercial Observer highlights this trend: https://lnkd.in/eK8mnwRP