"Remember, California is the nation's largest rental market with 6.1 million tenant households. Next are Texas at 4.3 million, New York at 3.6 million, Florida at 2.9 million, and Illinois at 1.7 million. Sadly, California is also tops for suffocating rental costs, with 1.6 million extremely burdened households in 2024. No. 2 for 50%-plus-burdens was Texas at 998,000, then New York at 938,000, Florida at 856,200, and Pennsylvania at 388,300."
"When you view this pocketbook pressure as a share of all renters, you see these tenant tensions are not unique to the Golden State. The math shows 27% of California renters are suffering this extreme financial stress. That slice is topped only by Florida's 29% and equals Nevada's share. This distress is not far above the nation's 24% share of renters facing a 50%-plus burden. No. 4 was New York at 26%. No. 5 was Connecticut at 25%. And Texas was No. 19 at 23%."
A significant share of renters face extreme cost burdens, defined as rent plus utilities exceeding 50% of income. California is the largest rental market with 6.1 million tenant households and 1.6 million extremely burdened households in 2024. Texas, New York, Florida, and Pennsylvania also report large counts of 50%-plus-burden households. As a share of renters, Florida and Nevada top the list at 29%, California registers 27%, and the national share is 24%. California's median renter cost was $2,104 per month, about 60% above the national median of $1,319.
Read at www.ocregister.com
Unable to calculate read time
Collection
[
|
...
]