{"id":5589,"date":"2023-02-08T21:23:32","date_gmt":"2023-02-08T21:23:32","guid":{"rendered":"https:\/\/imsfund.com\/?p=5589"},"modified":"2023-02-08T21:23:32","modified_gmt":"2023-02-08T21:23:32","slug":"these-are-the-10-most-rent-burdened-metro-areas-in-the-u-s","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2023\/02\/08\/these-are-the-10-most-rent-burdened-metro-areas-in-the-u-s\/","title":{"rendered":"These are the 10 most rent-burdened metro areas in the U.S."},"content":{"rendered":"


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Spencer Platt | Getty Images News | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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New York is the most rent-burdened metro area in the U.S., according to a new report<\/a> from Moody’s Analytics.<\/p>\n

A household with the median income in the Big Apple would need to pay nearly 69% of earnings to rent the averaged-priced apartment there, the research division of the rating agency found.<\/p>\n

Families who direct 30% or more of their income to housing typically are considered<\/a> “rent burdened” by the U.S. Department of Housing and Urban Development, and “may have difficulty affording necessities such as food, clothing, transportation and medical care.”<\/p>\n

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To not be considered rent burdened in New York in the average apartment, a household would need to earn $177,000 or more a year, said Lu Chen and Mary Le, economists at Moody’s Analytics.<\/p>\n

Rents can be disproportionately higher than incomes when “the location is highly desirable from a lifestyle or future income perspective,” Chen and Le wrote in an email. “Both of these are true for a place like New York City.”<\/p>\n<\/div>\n

Keeping rent under 30% is ‘increasingly unattainable’<\/h2>\n
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For decades, people have been advised not to spend more than 30% of their gross income on housing, said Allia Mohamed<\/a>, co-founder and CEO of Openigloo, which allows renters to review buildings and landlords across the U.S.<\/p>\n

However, Mohamed said, “in high-rent cities, in particular, this parameter has become increasingly unattainable.”<\/p>\n

Recognizing that problem, the Biden administration last month rolled out a blueprint for a renters’ bill of rights<\/a>, which aims to add new tenant protections and curtail exorbitant rent increases in certain properties.<\/p>\n<\/div>\n

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\"Rent<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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More than 44 million households, or roughly 35% of the U.S. population, live in rental housing, according to the White House.<\/p>\n

“Renters should have access to housing that is safe, decent and affordable and should pay no more than 30% of household income on housing costs,” the blueprint reads.<\/p>\n<\/div>\n<\/div>\n


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Spencer Platt | Getty Images News | Getty Images New York is the most rent-burdened metro area in the U.S., according to a new report from Moody’s Analytics. A household with the median income in the Big Apple would need to pay nearly 69% of earnings to rent the averaged-priced apartment there, the research division […]<\/p>\n","protected":false},"author":5,"featured_media":5590,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107191109-1675866965379-gettyimages-1242131616-775849150.jpeg?v=1675884501&w=1920&h=1080","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-5589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/5589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=5589"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/5589\/revisions"}],"predecessor-version":[{"id":5591,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/5589\/revisions\/5591"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/5590"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=5589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=5589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=5589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}