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CHICAGO—RENTCafé, a nationwide apartment search website and a part of Yardi, just finished analyzing Census data going as far back as 1974 to determine which generation is the most rent-burdened between the ages of 22 and 30. After comparing income and rental data from that eight-year period, its researchers discovered that rent burden followed an ascending trend over time, making Millennials the hardest hit generation. Millennials pay $92,600 in total rent by the time they turn 30. Although they earn more compared to previous generations, they also have to spend more on rent. Compared to Baby Boomers (36%) and Generation X (41%), Millennials must cope with a 45% rent burden in their 20s. Furthermore, with a rent burden of 47%, younger Millennials (22-29) surpass older Millennials (30-40) who spent about 44% of their income on rent between the ages of 22 and 30.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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