{"id":79146,"date":"2025-01-22T05:00:36","date_gmt":"2025-01-22T13:00:36","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=79146"},"modified":"2025-01-30T13:20:09","modified_gmt":"2025-01-30T21:20:09","slug":"rent-affordability-2025","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/rent-affordability-2025\/","title":{"rendered":"Renters Need to Earn $63,680 to Afford the Typical U.S. Apartment\u2014the Lowest Amount in 3 Years"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Renters need to earn $63,680 to afford the median asking rent for a U.S. apartment\u2014the lowest income required since early 2022.\u00a0<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Texas metros Austin, Houston and Dallas are the most affordable for renters, while Providence, Miami and New York are the least affordable.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">The typical renter earns enough to afford the median rent in 15 of the 44 major metros Redfin analyzed.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Note: Los Angeles is listed in this report as one of the least affordable metros to rent, using data from December, prior to the devastating January wildfires. Redfin is tracking <\/i><\/b><a href=\"https:\/\/www.redfin.com\/news\/los-angeles-wildfires-housing-statistics\/\"><b><i>reports<\/i><\/b><\/a><b><i> that rents have started rising across Los Angeles as displaced residents look for new homes.<\/i><\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Renters need to earn $63,680 to afford the median asking rent for a U.S. apartment ($1,592), the lowest amount needed since March 2022.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s down 0.4% from a year ago and a drop of 6.4% from August 2022 when the median asking rent hit an all-time high of $1,700. Back then, a renter would have had to earn $68,000 to afford the typical apartment\u2014nearly $5,000 more than today.<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-4cyL1\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Income Needed To Afford Typical Apartment Drops To Lowest Level In Nearly 3 Years\" src=\"https:\/\/datawrapper.dwcdn.net\/4cyL1\/2\/\" height=\"429\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p><span style=\"font-weight: 400;\">This is based on a Redfin analysis of median U.S. apartment asking rents for the three months ending December 31, 2024, and estimate<\/span><span style=\"font-weight: 400;\">d median incomes for renter households. Median asking rents cover newly listed units in apartment buildings with five or more units. We estimated 2024 median household incomes using U.S. Census Bureau data from 2023\u2014the most recent full year available\u2014and the 12-month moving average nominal growth rate compiled by the Current Population Survey and reported by the Federal Reserve Bank of Atlanta. <\/span><span style=\"font-weight: 400;\">We consider an apartment affordable if a renter spends no more than 30% of their income on rent.<\/span><\/p>\n<h2><b>Rental affordability improves as renters earn more than ever<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">On the other side of the affordability equation, renters are earning more than ever. The estimated median income for a renter in 2024 was $54,752, up 5.3% from 2023 ($52,019) and 35.2% from before the pandemic in 2019 ($40,505).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s still 14% less\u2014or $8,928 a year in dollar terms\u2014than the $63,680 income needed to afford the median monthly rent for an apartment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But the gap between how much renters earn and the income they need to keep rent affordable is shrinking, with last month\u2019s difference being the smallest in the five years Redfin has tracked the two metrics.\u00a0<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-7N2Fy\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Typical Renter Earns $8,928 Less Than Income Needed To Afford Median Apartment\" src=\"https:\/\/datawrapper.dwcdn.net\/7N2Fy\/1\/\" height=\"448\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p><span style=\"font-weight: 400;\">\u201cRental affordability will continue improving this year, as wages grow and rents remain flat, thanks to the <\/span><a href=\"https:\/\/www.redfin.com\/news\/new-construction-rents-Q3\/\"><span style=\"font-weight: 400;\">recent boom<\/span><\/a><span style=\"font-weight: 400;\"> in apartment construction,\u201d said Redfin Senior Economist <\/span><a href=\"https:\/\/www.redfin.com\/news\/author\/sheharyarbokhari\/\"><span style=\"font-weight: 400;\">Sheharyar Bokhari<\/span><\/a><span style=\"font-weight: 400;\">. \u201cThe affordability gap between renting and buying is likely to <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-predictions-2025\/\"><span style=\"font-weight: 400;\">widen further in 2025<\/span><\/a><span style=\"font-weight: 400;\">, as home prices rise and mortgage rates remain high. That means potential homebuyers\u2014especially from younger generations\u2014may decide to continue renting for longer, as it\u2019s the only affordable option.\u201d<\/span><\/p>\n<h2><b>Austin is the most affordable metro for renters; Providence is the least affordable<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Emphasizing improving rental affordability overall, renters in 15 of the 44 major metros analyzed earned more than is needed to afford the median rent in December\u2014compared to just seven metros a year earlier.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Renters in Austin earned a median salary of $69,781. That\u2019s 25.1% (or $14,021 in dollar terms) <\/span><i><span style=\"font-weight: 400;\">more <\/span><\/i><span style=\"font-weight: 400;\">than they need to afford the typical apartment\u2014the biggest gap among the major metros. Next came Houston (17.6% more), followed by Dallas (10.3% more), Salt Lake City (8.9% more) and Raleigh, NC (8.4% more).\u00a0<\/span><\/p>\n<p><b>10 Most Affordable Metros For Renters\u00a0<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Rank<\/b><\/td>\n<td><b>Metro<\/b><\/td>\n<td><b>Median Asking Rent (Dec 2024)<\/b><\/td>\n<td><b>Income Required To Afford Median Asking Rent (Dec 2024)<\/b><\/td>\n<td><b>Estimated Median Renter Income (2024)<\/b><\/td>\n<td><b>% Difference Between Income Required and Estimated Median Renter Income\u00a0<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Austin, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,394<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$55,760<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$69,781<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.14%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Houston, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,239<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$49,560<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,287<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.61%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Dallas, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,460<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$64,417<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.30%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">4<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Salt Lake City, UT<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,476<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$59,040<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$64,271<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.86%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">5<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Raleigh, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,418<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$56,720<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$61,463<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.36%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">6<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Denver, CO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,695<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$67,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$72,803<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.38%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">7<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,476<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$59,040<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$63,157<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.97%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">8<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Washington, DC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,039<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$81,560<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$86,644<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.23%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">9<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,600<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$64,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$66,745<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.29%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">10<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,495<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$59,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$61,236<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.40%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">At the other end of the affordability spectrum, renters in Providence earned a median salary of $50,408\u201441.3% (or $35,392 in dollar terms) <\/span><i><span style=\"font-weight: 400;\">less <\/span><\/i><span style=\"font-weight: 400;\">than what they need to afford the typical apartment. That was the biggest shortfall among the major metros analyzed.\u00a0<\/span><\/p>\n<p><b>10 Least Affordable Metros For Renters\u00a0<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Rank<\/b><\/td>\n<td><b>Metro<\/b><\/td>\n<td><b>Median Asking Rent (Dec 2024)<\/b><\/td>\n<td><b>Income Required To Afford Median Asking Rent (Dec 2024)<\/b><\/td>\n<td><b>Estimated Median Renter Income (2024)<\/b><\/td>\n<td><b>% Difference Between Income Required and Estimated Median Renter Income\u00a0<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,145<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$85,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$50,408<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-41.25%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,373<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$94,920<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$57,157<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-39.78%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3<\/span><\/td>\n<td><span style=\"font-weight: 400;\">New York, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,805<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$112,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$71,376<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-36.39%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">4<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Los Angeles, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,780<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$111,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$73,419<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-33.98%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">5<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Boston, MA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,660<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$106,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$73,116<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-31.28%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">6<\/span><\/td>\n<td><span style=\"font-weight: 400;\">San Diego, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,831<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$113,240<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$78,357<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-30.80%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">7<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Riverside, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,266<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$90,640<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$63,162<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-30.32%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">8<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,735<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$69,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$54,654<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-21.25%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">9<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Philadelphia, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,865<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$74,600<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,970<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-20.95%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">10<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Buffalo, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,310<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$52,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$41,905<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-20.03%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Next came a number of historically expensive metros where rents are expensive and demand is consistently high, with Miami (39.8% less) followed by New York (36.7% less), Los Angeles (34% less) and Boston (31.3% less) rounding out the five least affordable metros to rent. (<\/span><span style=\"font-weight: 400;\">Note: data in this report is from December, prior to the Los Angeles wildfires. <\/span><span style=\"font-weight: 400;\">Redfin is tracking <\/span><a href=\"https:\/\/www.redfin.com\/news\/los-angeles-wildfires-housing-statistics\/\"><span style=\"font-weight: 400;\">reports<\/span><\/a><span style=\"font-weight: 400;\"> that rents have started rising across Los Angeles as displaced residents look for new homes.<\/span><span style=\"font-weight: 400;\">)<\/span><\/p>\n<h2><b>Rental affordability improved the most in Austin in 2024<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Rental affordability improved the most in 2024 in Austin, where the required income to afford the typical apartment<\/span><i><span style=\"font-weight: 400;\"> fell<\/span><\/i><span style=\"font-weight: 400;\"> to $55,760 in December, down 16.3% ($10,840) from $66,600 a year earlier.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Austin\u2014like many Sun Belt metros\u2014saw some of the <\/span><a href=\"https:\/\/www.redfin.com\/news\/new-construction-rents-q3\/\"><span style=\"font-weight: 400;\">highest levels<\/span><\/a><span style=\"font-weight: 400;\"> of multifamily housing construction over the past few years, and rents are now starting to fall as supply increases and demand levels off.<\/span><\/p>\n<p><b>Metros Where Rental Affordability Improved The Most In 2024<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Rank<\/b><\/td>\n<td><b>Metro<\/b><\/td>\n<td><b>Income Required To Afford Median Asking Rent<\/b><\/p>\n<p><b>(Dec 2024)<\/b><\/td>\n<td><b>Income Required To Afford Median Asking Rent<\/b><\/p>\n<p><b>(Dec 2023)<\/b><\/td>\n<td><b>2023\u21922024 Difference In Income Required<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Austin, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$55,760<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$66,600<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-16.28%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$69,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$77,520<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-10.47%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$62,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-6.75%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">4<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$59,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$63,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-6.27%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">5<\/span><\/td>\n<td><span style=\"font-weight: 400;\">New York, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$112,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$117,560<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-4.56%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">The next major metros seeing the biggest year-over-year affordability gains were Tampa, FL (-10.5% to $69,400), Jacksonville, FL (-6.8% to $58,000), Nashville, TN (-6.3% to $59,800) and New York (-4.6% to $112,200).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a number of major metros on the East Coast and in the Midwest, however, renting is<\/span><i><span style=\"font-weight: 400;\"> less affordable<\/span><\/i><span style=\"font-weight: 400;\"> now than it was a year ago\u2014partly due to\u00a0 <\/span><a href=\"https:\/\/www.redfin.com\/news\/new-construction-rents-q3\/\"><span style=\"font-weight: 400;\">limited new construction<\/span><\/a><span style=\"font-weight: 400;\"> in recent years.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In Providence, RI, renters needed to earn $85,800 to afford the typical apartment in December\u2014up 12.6% ($9,600) from the $76,200 needed in December 2023. That was the biggest year-over-year jump among the 44 major metros Redfin analyzed.\u00a0<\/span><\/p>\n<p><b>Metros Where Rental Affordability Worsened The Most (2024)<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Rank<\/b><\/td>\n<td><b>Metro<\/b><\/td>\n<td><b>Income Required To Afford Median Asking Rent<\/b><\/p>\n<p><b>(Dec 2024)<\/b><\/td>\n<td><b>Income Required To Afford Median Asking Rent<\/b><\/p>\n<p><b>(Dec 2023)<\/b><\/td>\n<td><b>2023\u21922024 Difference In Income Required<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$85,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$76,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">+12.60%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Virginia Beach, VA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$63,080<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$56,920<\/span><\/td>\n<td><span style=\"font-weight: 400;\">+10.82%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Louisville, KY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$49,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$44,720<\/span><\/td>\n<td><span style=\"font-weight: 400;\">+10.02%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">4<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$64,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">+9.97%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">5<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Buffalo, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$52,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$48,100<\/span><\/td>\n<td><span style=\"font-weight: 400;\">+8.94%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Next came Virginia Beach, VA (+10.8% to $63,080), Louisville, KY (+10% to $49,200), Baltimore (+10% to $64,000) and Buffalo, NY (+8.9% to $52,400).<\/span><\/p>\n<h2><b>Metro-Level Summary<\/b><\/h2>\n<p><i><span style=\"font-weight: 400;\">Metro-level data in this report covers 44 of the 50 most populous U.S. core-based statistical areas (CBSAs)\u2014those for which Rent. and Redfin have sufficient rental data. The national figures are based on data for the entire U.S. <\/span><\/i><i><span style=\"font-weight: 400;\">Median asking rents cover newly listed units in apartment buildings with five or more units.\u00a0<\/span><\/i><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Metro<\/b><\/td>\n<td><b>Median Asking Rent (Dec 2024)<\/b><\/td>\n<td><b>Income Required To Afford Median Asking Rent<\/b><\/td>\n<td><b>Estimated Median Renter Income (2024)<\/b><\/td>\n<td><b>% Difference Between Income Required and Estimated Median Renter Income\u00a0<\/b><\/td>\n<td><b>$\u00a0 Difference Between Income Required and Estimated Median Renter Income\u00a0<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Atlanta, GA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,528<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$61,120<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$61,437<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.52%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$317<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Austin, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,394<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$55,760<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$69,781<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.14%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$14,021<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,600<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$64,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$66,745<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.29%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,745<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Birmingham, AL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,349<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$53,960<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$46,306<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-14.18%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$7,654<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Boston, MA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,660<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$106,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$73,116<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-31.28%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$33,284<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Buffalo, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,310<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$52,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$41,905<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-20.03%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$10,495<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Charlotte, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,475<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$59,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$57,262<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.95%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$1,738<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Chicago, IL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,704<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$68,160<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,926<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-13.55%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$9,234<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cincinnati, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,360<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$54,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$49,168<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-9.62%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$5,232<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cleveland, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,282<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$51,280<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$44,717<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-12.80%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$6,563<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Columbus, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$56,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$55,824<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.31%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$176<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Dallas, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,460<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$64,417<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.30%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$6,017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Denver, CO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,695<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$67,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$72,803<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.38%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$5,003<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Detroit, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,345<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$53,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$48,862<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-9.18%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$4,938<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Houston, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,239<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$49,560<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,287<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.61%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$8,727<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Indianapolis, IN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,349<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$53,960<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$54,121<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.30%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$161<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,450<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$57,160<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.45%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$840<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Las Vegas, NV<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,448<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$57,920<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$56,297<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.80%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$1,623<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Los Angeles, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,780<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$111,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$73,419<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-33.98%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$37,781<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Louisville\/Jefferson County, KY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,230<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$49,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$46,760<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-4.96%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$2,440<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Memphis, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,199<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$47,960<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$45,915<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-4.26%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$2,045<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,373<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$94,920<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$57,157<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-39.78%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$37,763<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Minneapolis, MN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,536<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$61,440<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$60,236<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.96%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$1,204<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,495<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$59,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$61,236<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.40%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,436<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New York, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,805<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$112,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$71,376<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-36.39%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$40,824<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,715<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$68,600<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,391<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-14.88%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$10,209<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Philadelphia, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,865<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$74,600<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,970<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-20.95%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$15,630<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,476<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$59,040<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$63,157<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.97%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$4,117<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Pittsburgh, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,375<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$55,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$45,541<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-17.20%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$9,459<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Portland, OR<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,755<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$70,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$67,405<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-3.98%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$2,795<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,145<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$85,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$50,408<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-41.25%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$35,392<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Raleigh, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,418<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$56,720<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$61,463<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.36%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$4,743<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Richmond, VA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,583<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$63,320<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$60,472<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-4.50%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$2,848<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Riverside, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,266<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$90,640<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$63,162<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-30.32%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$27,478<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Sacramento, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,964<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$78,560<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$65,646<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-16.44%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$12,914<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Salt Lake City, UT<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,476<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$59,040<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$64,271<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.86%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$5,231<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Diego, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,831<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$113,240<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$78,357<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-30.80%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$34,883<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Francisco, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,695<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$107,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$104,313<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-3.23%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$3,487<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Jose, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$3,175<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$127,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$127,524<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.41%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$524<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Seattle, WA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,015<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$80,600<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$81,577<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.21%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$977<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">St. Louis, MO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,232<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$49,280<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$49,887<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.23%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$607<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,735<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$69,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$54,654<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-21.25%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$14,746<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Virginia Beach, VA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,577<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$63,080<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$58,551<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-7.18%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-$4,529<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Washington, DC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,039<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$81,560<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$86,644<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.23%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$5,084<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>United States<\/b><\/td>\n<td><b>$1,592<\/b><\/td>\n<td><b>$63,680<\/b><\/td>\n<td><b>$54,752<\/b><\/td>\n<td><b>-14.02%<\/b><\/td>\n<td><b>-$8,928<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Renters need to earn $63,680 to afford the median asking rent for a U.S. apartment\u2014the lowest income required since early 2022.\u00a0 Texas metros Austin, Houston and Dallas are the most affordable for renters, while Providence, Miami and New York are the least affordable. The typical renter earns enough to afford the median rent in 15 [&hellip;]<\/p>\n","protected":false},"author":13568,"featured_media":79149,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[563],"tags":[20,623,697,88],"dashboard":[],"coauthors":[682,115],"class_list":["post-79146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rental-market","tag-housing-affordability","tag-national","tag-rentals","tag-renting"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Renters Need to Earn $63,680 to Afford the Typical U.S. Apartment\u2014the Lowest Amount in 3 Years<\/title>\n<meta name=\"description\" content=\"Renters need to earn $63,680 to afford the median asking rent for a U.S. apartment\u2014the lowest income required since early 2022. 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