U.S. Renters Need $63,680 to Afford Median Apartment Rent -- Market Talk

Dow Jones

Jan 22, 2025

0953 ET - Renters now need $63,680 to afford the median U.S. apartment rent of $1,592, the lowest since March 2022, says Redfin. This is down 0.4% from a year ago and 6.4% from August 2022's peak of $1,700, when $68,000 was necessary. Meanwhile, median renter income rose to $54,752 in 2024, up 5.3% from 2023 and 35.2% from before 2019, yet it's still $8,928 short of the required rent affordability income. The gap between income and affordability has narrowed, with December showing the smallest disparity in five years. As home prices and mortgage rates increase, the affordability gap between renting and buying is expected to widen, potentially pushing more young people to rent longer. In December, renters in 15 of 44 major metros could afford median rents, up from seven metros a year earlier. (chris.wack@wsj.com)

(END) Dow Jones Newswires

January 22, 2025 09:53 ET (14:53 GMT)

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This is down 0.4% from a year ago and 6.4% from August 2022's peak of $1,700, when $68,000 was necessary. Meanwhile, median renter income rose to $54,752 in 2024, up 5.3% from 2023 and 35.2% from before 2019, yet it's still $8,928 short of the required rent affordability income. The gap between income and affordability has narrowed, with December showing the smallest disparity in five years. As home prices and mortgage rates increase, the affordability gap between renting and buying is expected to widen, potentially pushing more young people to rent longer. In December, renters in 15 of 44 major metros could afford median rents, up from seven metros a year earlier. (chris.wack@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 22, 2025 09:53 ET (14:53 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Renters Need $63,680 to Afford Median Apartment Rent -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Renters Need $63,680 to Afford Median Apartment Rent -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-01-22 22:53</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0953 ET - Renters now need $63,680 to afford the median U.S. apartment rent of $1,592, the lowest since March 2022, says Redfin. This is down 0.4% from a year ago and 6.4% from August 2022's peak of $1,700, when $68,000 was necessary. Meanwhile, median renter income rose to $54,752 in 2024, up 5.3% from 2023 and 35.2% from before 2019, yet it's still $8,928 short of the required rent affordability income. The gap between income and affordability has narrowed, with December showing the smallest disparity in five years. As home prices and mortgage rates increase, the affordability gap between renting and buying is expected to widen, potentially pushing more young people to rent longer. In December, renters in 15 of 44 major metros could afford median rents, up from seven metros a year earlier. (chris.wack@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 22, 2025 09:53 ET (14:53 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4548","symbol_name":"巴美列捷福持仓","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2505472166","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2505472166","pubTimestamp":1737557580,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0953 ET - Renters now need $63,680 to afford the median U.S. apartment rent of $1,592, the lowest since March 2022, says Redfin. This is down 0.4% from a year ago and 6.4% from August 2022's peak of $1,700, when $68,000 was necessary. Meanwhile, median renter income rose to $54,752 in 2024, up 5.3% from 2023 and 35.2% from before 2019, yet it's still $8,928 short of the required rent affordability income. The gap between income and affordability has narrowed, with December showing the smallest disparity in five years. As home prices and mortgage rates increase, the affordability gap between renting and buying is expected to widen, potentially pushing more young people to rent longer. In December, renters in 15 of 44 major metros could afford median rents, up from seven metros a year earlier. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4548":"巴美列捷福持仓","BK4079":"房地产服务","RDFN":"Redfin Corp","CFA.SI":"NikkoAM-STC Asia REIT"},"translate_title":"美国租房者需要63,680美元才能负担公寓租金中位数——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RDFN":0.9,"CFA.SI":1},"content_text":"0953 ET - Renters now need $63,680 to afford the median U.S. apartment rent of $1,592, the lowest since March 2022, says Redfin. This is down 0.4% from a year ago and 6.4% from August 2022's peak of $1,700, when $68,000 was necessary. Meanwhile, median renter income rose to $54,752 in 2024, up 5.3% from 2023 and 35.2% from before 2019, yet it's still $8,928 short of the required rent affordability income. The gap between income and affordability has narrowed, with December showing the smallest disparity in five years. As home prices and mortgage rates increase, the affordability gap between renting and buying is expected to widen, potentially pushing more young people to rent longer. In December, renters in 15 of 44 major metros could afford median rents, up from seven metros a year earlier. (chris.wack@wsj.com) \n\n\n  (END) Dow Jones Newswires\n\n\n  January 22, 2025 09:53 ET (14:53 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}