Rent as a percentage of income. General rule (and what I’m assuming the article is using without getting around the paywall) is 1/3 of your income should be rent. So if the avg rent in 2019 was $1666 and it’s now $2000 you should be making $80k/year instead of $60K.
I mean… I’m up in Canada but in one of the highest cost of living cities in the country which isn’t as bad as San Francisco or NYC but it’s bad…
20k is 1666 a month extra.
The only thing thats gone up $1666 a month more would be a larger house.
Fancy 1 bedrooms are up to 2000-2500 and they were never $334 to 734 even 15 years ago.
Something is wrong with that headline or their math
Rent as a percentage of income. General rule (and what I’m assuming the article is using without getting around the paywall) is 1/3 of your income should be rent. So if the avg rent in 2019 was $1666 and it’s now $2000 you should be making $80k/year instead of $60K.
I’m old enough to have learned that housing should be 1/4 of your take home pay