Friday, September 1, 2017
If you have searched for an apartment in the past several years you know that rent is on the rise and not just in Central Texas but nationwide.
Today, a whopping 35% of American households are renters and about half of those renters are cost burdened and spending more than 30% of their income on housing. Since renting is no longer just for the younger generation, Abodo recently surveyed renters to better understand which generation is the most cost burdened.
Almost two-third of Millennials rent and 46% of them are cost burdened paying a median gross rent of $980 per month. Although a lower percentage of boomers rent, almost half of them are cost burdened paying a median rent of $890 per month. Over 44% of Generation X renters are cost burdened because of their expensive taste in apartments and paying $1,050 per month.
Lucky for San Antonio renters, most cities in Texas seem to fall below the national figures. Regardless of your generation, it is important that you have an expert on your side. Our agents at Apartments Now can help you find the perfect place to call home. Call us today at (210) 558-7377.