The US Is Nationally Rent Burdened for the First Time
The national average rent-to-income reached 30% for the first time in the more than 20 years.
The US is now rent-burdened nationally for the first time, according to new research from Moody’s, as wage growth increasingly trails rent growth.
The national average rent-to-income (RTI) reached 30% for the first time in the more than 20 years Moody’s has tracked, up 1.5% from year-ago and 0.2% from Q3. The metros with the highest rent to income ratios include New York (nearly 70%), Miami (just north of 40%), Fort Lauderdale, Los Angeles, Palm Beach…