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
