Rent Burden Highest in Florida and California

Some investors are adjusting their portfolios toward land-constrained markets that provide the potential for higher rent growth. Among those strong markets are Seattle, Miami, Northern New Jersey, and.

California’s cost of living is among the highest in the nation, largely because California’s housing costs are so high. As a result, businesses in California’s coastal metros may find it challenging (and expensive) to recruit or retain qualified employees.

That makes Florida the most "rent-burdened" state in the nation, topping such other high rent states as California and New York. The study reports that only 30 percent of residents in those two states spend half their income on rent.

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The rent check hurts in Southern California. The typical renter in Los Angeles and Orange counties started 2017 paying the nation’s biggest slice of their household income to the landlord, while.

The result is that housing cost-burden is high throughout the state. Across every region of California, from the high-cost San Francisco Bay Area and Los Angeles to the lower-cost Central Valley and Far North, at least a third of households spent more than 30 percent of their incomes toward housing in 2015, and at least 1 in 6 spent more than.

Sacramento-area counties have the highest proportion of severely rent-burdened low-income seniors, 63.7 percent. Combined with the 18.6 percent of low-income seniors who are moderately burdened, that region has the highest regional rent burden, affecting more than 8 in 10 low-income seniors, according to the study.

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Florida is the state with the highest cost burden rate at 56.4 percent. Nearly one in three cost-burdened renters lives in California, New York or Florida. At the metro level, Miami has a cost burden rate of 62.7 percent, the highest of the nation’s 100 largest metros.

Miami has the ninth highest median rent in the country at $1,183 a month. That much less than San Jose, California, the most expensive rental market in the country, with a median rent of $1,840 a.

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Average Rental Rate – Total residential rental revenues reflected on a straight-line basis in accordance with GAAP divided by the weighted average occupied apartment units for the reporting period.

Housing Affordability Burden For U.S. Cities By general rule-of-thumb, housing costs should not exceed 30 percent of a household’s total income.. Yes, the Rent Really Is Too Damn High.