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Half of Millennials Can’t Afford to Rent a One-Bedroom Apartment in California’s Biggest Cities

by Daily Wire
August 24, 2022
in All Around the Web
Reading Time: 1 min read
Half Of Millennials Can’t Afford To Rent A One-Bedroom Apartment In California’s Biggest Cities

Low Angle View Of Townhouses Against Blue Sky California is home to many cities in which at least half of millennials cannot afford to rent a one-bedroom apartment, according to a recent analysis from Filterbuy.

Beyond inflationary pressures in staples such as food and gasoline , median rental prices increased 17.6% in 2021 and a total of 6.7% in the first seven months of 2022, according to Apartment List . Rent hikes are especially impacting the millennial cohort — defined by the Filterbuy analysis as those between 24 and 39 years old — which has the highest proportion of renters in comparison to other generations.

“The combination of rising rents and stagnant wages has been a challenge for Americans of all stripes, but certain groups have been more disadvantaged by this state of affairs than others,” Filterbuy explained. “Even well-off households are feeling pressure, as rising real estate costs price would-be […]

Excerpt Sourced From: www.dailywire.com

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