American cities with people struggling to pay rent
14. Portland, Oregon
Median income: $58,423, Share of income spent on rent: 29.90%
With the American housing market becoming more unstable, many major cities across the States are full of residents who are struggling to pay rent. Since the recession, average home prices have risen faster than average incomes and builders haven’t been able to keep up with the popular demands for affordable housing. In order to determine which US cities are currently struggling to pay rent, the maths is quite simple. The median US rent requires 28.4% of a median average income to be paid towards rent or a mortgage. The cities listed are those where average residents are being forced to pay more of their salary to pay rent, than the expected 28.4%. Here are the major cities affected, along with the details that outline the median income and percentage spent on paying rent or mortgage bills.