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Rent and income growth: do they ever trend together?

07/01/2016

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Does it feel like more of the paycheck is going toward rent? For most metros, renters are spending more of relatively unchanged incomes, according to Apartment List. Some of the most economically unbalanced cities for rent and income growth include Houston, Washington D.C., Boston and San Francisco, according to the website’s rent growth study. By analyzing U.S. Census data from 1960 to 2014, the rental search and data website saw average U.S. rents rising 64 percent, while real household incomes increased by a mere 18 percent. Back in 1960, the median U.S. rent was $568 per month. Hopefully that doesn’t make it too difficult to swallow lease terms after seeing that figure. Rents rose fastest during the 60s (18 percent increase) and the 80s (16 percent increase). The 70s and…

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