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– A typical renter in Miami would need to spend 49.8% of earnings to rent a one-bedroom condominium. A typical millennial renter would have to spend 54%. San Francisco, (37.3% for typical renters, 33.5% for millennial renters), New York (34.3%, 33.8%), Los Angeles (33.7%, 38.8%) and Boston (32%, 32.6%) additionally show stark levels of unaffordability.

– In nearly half of the highest rental markets (12 out of 25), millennial renters would have to spend greater than 30% of their revenue houses in turkey direction of renting their very own one-bedroom house. Spending more than 30% of family earnings on housing is taken into account unaffordable by authorities housing companies.

– The crunch is very acute for millennials. Greater than 20% of millennials live with roommates,[2] an 115-yr high as of 2015. An astonishing 60% of millennials in America now either dwell with dad and mom, siblings, other relatives or roommates, also an 115-12 months high.