Rent Is Outpacing Wages the Most in These 9 Cities

According to new data from Moody's Analytics, the current rent-to-income ratio in the U.S. is still pretty wide.

  • The ratio covers the gap between what residents earn monthly and the amount spent on rent.
  • With the rent-to-income ratio at 30.2 %, this means people are spending about 30% of their income on rent.%
  • Minimum wage workers have to work 56 hours a week to afford rent, study says

According to data from Moody's Analytics, the cities experiencing the most rent burden are 

  • New York
  • Miami
  • Fort Lauderdale
  • Los Angeles
  • Palm Beach
  • Northern New Jersey
  • Boston,
  • Ithaca, New York
  • And Flagstaff, Arizona

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