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News@lemmy.world · 6 months ago

Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago

cross-posted to:
aboringdystopia@lemmy.world

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Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago

return2ozma@lemmy.world to

News@lemmy.world · 6 months ago

cross-posted to:
aboringdystopia@lemmy.world

“Since pre-pandemic, the income needed to afford rent has increased by 31.5%,” Zillow’s chief economist, Skylar Olsen, wrote yesterday.

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6 months ago
That’s a major issue about inflation - it’s really just an additional tax. In inflation, cost of living goes up, income/wages do not.

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