Sacramento-area counties have the highest proportion of severely rent-burdened low-income seniors, 63.7 percent. Combined with the 18.6 percent of low-income seniors who are moderately burdened, that region has the highest regional rent burden, affecting more than 8 in 10 low-income seniors, according to the study.
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Southern California is one of the most unaffordable regions in the US – each of the four metros have cost-burden rates of 56% or more. Most worryingly, affordability has not improved much in recent years, as wage growth fails to outpace rent increases. Incomes and rents are key drivers of affordability
Areas with sluggish economies in parts of California, Florida (such as Miami above) and Michigan appear to have the most severe housing affordability burdens.
Rental Burdens: Rethinking Affordability Measures. In cities like New York, households often face considerable rental burdens and high costs of living. How much of your income should you set aside for rent? With the cost of housing on the rise, researchers are reexamining the 30-percent rule of thumb for measuring rental burden.
Miami has the ninth highest median rent in the country at $1,183 a month. That much less than San Jose, California, the most expensive rental market in the country, with a median rent of $1,840 a.
Foreign buyers have cooled on the U.S. residential home market, dropping investments by more than one-third over the previous.
“Frankly, as part of the ongoing debate over how we deal financially and legally with the burden of those. States with the highest numbers of estimated undocumented immigrants – like California,
No one in the country bears a heavier burden for rent than people in South Florida. Sixty-two percent of renters in Palm Beach, Broward and Miami-Dade counties shell out at least 30 percent of.
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The result is that housing cost-burden is high throughout the state. Across every region of California, from the high-cost San Francisco Bay Area and Los Angeles to the lower-cost Central Valley and Far North, at least a third of households spent more than 30 percent of their incomes toward housing in 2015, and at least 1 in 6 spent more than.