The line of work Americans are in could impact living situations, as many teachers across the country have trouble affording shelter.

A study from Redfin found that teachers on average can only afford 47.9 percent of rents for apartments that are located within a reasonable distance from their schools. While that's up from the 40.7 percent figure last year – it gets worse for those in the market for a home. Within commuting distance from their schools, the average teacher can only afford 14.3 percent of homes for sale. That's barely a change from 14.4 percent last year and down significantly from 39.1 percent in 2019.

But not all areas are created equally. Some will be more affordable than others. The worst offender is Miami. An average teacher in the city can just afford a stunning 0.2 percent of the apartments within commuting distance of their school, according to Redfin. The other most unaffordable markets include Orlando (6.7 percent), San Jose (9.8 percent), Boston (15.7 percent), and New York (20. 4 percent).

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.