Source: National Association of REALTORS® (Realtor Mag)
Rents have been slowing in many areas, but exceptions are still giving renters sticker shock. Rents in the nation’s largest cities, in particular, continue to grow. Nearly half of renters—or 46 percent—devote more than 30 percent of their income to rent, according to Census Bureau data. Economists consider that “cost-burdened.”SmartAsset, a personal finance website, analyzed data median household incomes and average rents and compared them in 2013 to 2016.
Four of the top 16 cities with the largest rent increases are in California, according to the analysis.
About Community Real Estate
Community Real Estate is a Real Estate Brokerage committed to provide quality professional services. We are a full service company with in-house lending. We are Realtor®s and HUD approved selling agents.
We are expert Short Sales, Listing Agents and Buyers’ Agents. We also specialize in First Time Buyers, Second Homes, Vacation Homes, Investment Homes, Leasing and Rentals, Relocations, Probate sales, Vacant Land sales, Manufacture Homes/Mobile Homes sales, Foreclosures, Distress Properties and REO listings and sales.
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