Nearly 70% of renter households have a gross family income that is less than the US median and soon (if not already) that is catching up to them in their ability to pay rent.
For the first time in decades, the rent-to-income ratio has reached 40%, marking one of the least-affordable rental markets ever, according to a new report from CoreLogic's Economist and Principal, Yanling Mayer.
Many say when the ratio exceeds one-third, affordability is getting to be a stretch.
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