Gen Z faces higher rent burdens than millennials did a decade ago in five major U.S. cities.

According to Zillow, more Gen Z members face higher rent burdens in five major US cities compared to millennials a decade ago. In Houston, San Antonio, Denver, San Diego, and Minneapolis, a greater percentage of Gen Zers spend over 30% of their income on rent than millennials did in 2012. This trend may be partly due to the pandemic, which increased demand for housing in suburban areas. However, the rental market is now stabilizing, offering some relief to young renters.

November 17, 2024
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