Renters in High-Cost Areas Need Six-Figure Salaries to Survive
TL;DR Summary
California has a high rate of renters due to the high cost of housing, with 45.5% of housing units occupied by renters in 2020. The state also has a low rate of single-occupancy households, with only 23% of households occupied by just one person. The increase in people living alone coincides with higher social isolation, a worrying trend outlined by U.S. Surgeon Gen. Dr. Vivek Murthy in a recent report. High housing costs are also a factor in putting California near the bottom in the rate of single-occupancy households.
Topics:business#california#housing-affordability#housing-and-society#renters#single-occupancy#social-isolation
- California has few people living alone, many renters Los Angeles Times
- South Florida renters need six figures to make ends meet South Florida Sun Sentinel
- To rent in these cities and have enough money left over, make $100,000: report MarketWatch
- Struggling to pay rent? New study finds average renter needs at least $100K salary to live comfortably NBC 6 South Florida
- A renter needs to earn more than $100,000 to afford rent in 11 areas Palm Beach Post
- View Full Coverage on Google News
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