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State: 17.08.2024 | 11PM
Tue, 22.10.2024       Zillow Group
US98954M1018

More than half of Gen Z renters are rent burdened in each of the country's 30 largest metros

58.6% of Gen Z renters nationwide are rent burdened, though 60.2% of Millennials experienced rent burden at the same ageIn more than half of the 30 largest U.S. metros, Millennials in 2012 were more likely to be rent burdened than Gen Z renters at the same age in 2022Over the past decade, rent burden for young adults has decreased the most in Austin and increased the most in Houston

SEATTLE, Oct. 22, 2024 /PRNewswire/ -- Nearly half of all U.S. renter households are burdened by rent costs, with Gen Z renters shouldering the heaviest load, a new analysis of the U.S. Census Bureau's 2022 American Community Survey (ACS) by Zillow® and its New York City brand StreetEasy® shows. Across the country, three in five Gen Z renters (ages 18-25) spend more than 30% of income on housing expenses. In 21 of the country's 30 largest metros, that share is even higher. In San Diego, Los Angeles, and Sacramento, for example, nearly three-quarters of Gen Z renters are rent burdened.

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