The median asking rent in the U.S. reached $1,481 per month in the second quarter of 2024, marking a historic high.

According to the U.S. Census Bureau, median asking rent has surged by a staggering 56% since 2019.

As a result, median asking rent now accounts for about 29% of the average monthly disposable personal income.

In comparison, this share was significantly lower in 2019—around 24%.

In other words, rent has been rising much faster than household income after taxes.

Even renting a home is becoming a luxury.

https://preview.redd.it/r202jt43udkd1.png?width=862&format=png&auto=webp&s=2bb649998bfae5b4bf5baef841fbd90766dcceed

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