Realtor.com® August Rental Report: Rental Affordability Has Generally Improved In Most Major U.S. Markets [Yahoo! Finance]
News Corporation - Class B (NWS)
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Source: Yahoo! Finance
Columbus, Ohio and Austin, Texas and Least Affordable Markets Include Miami, Los Angeles and New York SANTA CLARA, Calif. Sept. 19, 2024 /PRNewswire/ -- Despite seasonally driven demand, rents across the U.S. dipped by (or -0.3%) year-over-year and nationwide to a median rent of , according to the released today. Although affordability improved as a top-level trend, affordability varies widely by metro area and did not improve everywhere. This month's report looked at the rent burden across the U.S. and found the most affordable rental markets include Oklahoma City, Okla. Columbus, Ohio and Austin, Texas while the markets with the biggest rental burden include Miami Los Angeles and New York "One way to think about housing affordability is to use the 30% rule of thumb, where housing expenses including rent or mortgage, utilities and HOAs or other fees should not exceed more than 30% of your income," said Danielle Hale , chief economist at Realtor.com ® . "Amid easing rents and grow
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