HotPads, an apartment listing site, has produced a new study finding the cities with the highest rent burden for residents in their 20s. Ana Swanson reports on the study and provides insight into its findings.
Ana Swanson writes: "HotPads estimated the median rent per person in select neighborhoods in 11 cities for studios, 1 bedroom-, 2 bedroom-, and 3 bedroom- apartments. They then used Census data to find the annual gross salary of full-time workers in various jobs aged 22 to 30 with college degrees."
HotPads then provides recommendations (i.e., "Rent here, not here") for neighborhoods and suburbs around the metro area. So, for example, a human resources manager in Atlanta should rent in Decatur, where they would spend 37 percent of their salary on rent, and not in Midtown, where they would spend 70 percent of their salary on rent.
The article includes a series of interactive maps showing neighborhoods in Washington, D.C., New York, Los Angeles, and more, where residents in the 20s can expect to pay more than a third of their rent.
FULL STORY: The cities where people in their 20′s pay the most obscene rents
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