Typical apartment renters are having to work a lot harder lately to afford to pay their rents.
Over the past five years, rents have grown 36.9%, while the average wage is up only 23%, according to a recent report from Zillow.
Nowhere is it more difficult than in Miami, where the typical renter needs to work three full-time days more than they did five years ago to earn enough to pay the typical rent in that metro area.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.