California is home to five of the eight American metropolitan areas where six -digit income is necessary to be a financially comfortable tenant.
My faithful calculation tablet analyzed Zillow’s April rent data, which followed stress on household finances caused by the increase in the cost of rental in the 50 largest metropolitan areas in the country since the pandemic disrupted the national economy.
The typical tenant of the metropolitan region of San Jose was to win $ 136,532 per year to maintain the rents of local apartments at only 30% of the median income. The April Jose’s April threshold was the highest in the country.
However, the increase in San Jose by 13% of the burden of rents in the past five years has been the second most intelligent increase among the 50 metros. The typical rent of $ 3,413 per month in April represented 25% of local income, the 18th largest part nationally.
Meanwhile, the $ 124,267 income threshold from San Francisco was the highest fourth at the national level. However, his 9% bump in five years was the smallest of the top 50. The median rent from San Francisco of $ 3,107 was 28% of income – n ° 13 at the national level.
South exhibition
The low demand from the bay for apartments at the pandemic era has maintained tamed rent hikes. It was not true elsewhere in the state.
Ponder County San Diego, where its $ 122,810 threshold was the fifth largest nationwide. In addition, this financial burden increased by 41% over five years, the ninth leap entirely among the 50 metropolitan zones. The rents of $ 3,070 from San Diego represented 33% of the income, the fifth largest.
In the counties of Los Angeles and Orange, the threshold of $ 118,958 ranked n ° 6 among the 50. The leap of 28% in five years was n ° 38.
A huge monetary challenge for the tenants of La-oc was a half-point rent of $ 2,974 in April. This is equivalent to 36% of income, the highest third share in the country.
Then there are tenants of the interior empire who had to win $ 102,722 per year to reach the 30%threshold. It is the eighth higher among the 50 metros.
Worse, this burden for the counties of Riverside and San Bernardino has increased by 46% in five years. The only larger jumps at the national level were in Miami (54%), Tampa (52%) and Providence, Rhode Island (51%).
And the $ 2,568 rent from the interior Empire represents 33% of local income, the highest sixth part at the national level.
The good deal?
Then there is Sacramento. The threshold of $ 94,002 was the only one of the six California Metros of the study which was less than $ 100,000. However, this burden ranked 10th higher on a national scale.
The gain of 31% in five years has ranked n ° 31. The typical rent of $ 2,350 is equivalent to 28% of income (n ° 12).
The national threshold of $ 80,949 has increased by 35% in five years. The median rent of $ 2,024 represents 30% of the typical income of an American household.
Jonathan Lansner is the business columnist for Southern California News Group. It can be attached to jlansner@scng.com
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