Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago

I really don't know how people are existing in today's hellhole of a capitalistic landscape. I'm fairly lucky with a good-paying job and a lowish house payment. I'm still paying a lot more for food and whatnot than I did before covid.

Naw, naw, it's cool... see, surely their income went up 30% in 5 years, right?... Right?

It's a good thing Republicans are NOT trying to make Homelessness ILLEGAL and punishable by PRISON!

And just for context, if you work 40 hours a week for $15 (well above minimum wage), your annual pre-tax income is $31,200.

peasants should just eat less avocado toast, amirite?

No War But The Class War

It's a good thing we all got fantastic promotions or hired into higher-status jobs or this could have been a problem. /s

This looks like it means rent increased smoothly by $300 a month each year, bad enough, but what happened here was that it doubled in one year for many people. Went up by thousands, all at once.

Article behind a paywall

I guess I'm a shit landlord, because I'm still charging the same as 5 years ago.

I can tell you that an average 2-bedroom apartment was about 600USD when I moved to the city I currenlty live in. Today the cheapest apartment in town is 1300USA/month and getting higher. If I hadn't been lucky enough to buy a house when I did, I couldn't afford to live anymore.

public housing needs to double and the requirements to get on it need to be slashed.

The average rent increase was my entire yearly take-home.

No worries, we all got bigass raises, right?

I keep reading articles like this. Between rent being too expensive, home prices going through the roof, food prices outpacing wage growth, car and home insurance going up just because it can, utilities getting more expensive, my question is when does it just become too much. The whole thing just screams corporate greed and I’m getting sick of it. I make 60% more than I did 20 years ago and I feel like I’m barely scraping by.

I'm trying so goddamn hard not to lose all hope

I mean... I'm up in Canada but in one of the highest cost of living cities in the country which isn't as bad as San Francisco or NYC but it's bad...

20k is 1666 a month extra.

The only thing thats gone up $1666 a month more would be a larger house.

Fancy 1 bedrooms are up to 2000-2500 and they were never $334 to 734 even 15 years ago.

Something is wrong with that headline or their math

Headline: "5 years ago renters needed to make less than $60,000 a year to afford the typical rent; now they need to make almost $80,000"

5 years ago renters needed to make less than $60k, they made $69k. Now they need to make "almost $80k", they make $77k. When you put numbers to it, it seems less stark.

Median household income in 2024 is $77,400.

Median household income in 2019 was $68,700.

Record profits though.

We need Rent Control at a federal level.

This seems dubious, considering average rent in the US is $18k

We need both, Rent Control and more housing. Land-lording has also been invaded by capitalists looking to squeeze humans for every cent and govt needs to stem that tide too. Rent has been soaring in the biggest capitalist zones, US and EU/CA.

Cap rent rises in England and Wales, Labour-commissioned report says

Median individual income is $47,684 in 2019

https://www.bls.gov/cps/aa2019/cpsaat39.htm

Median individual income is $58,084 in 2023 a little hard to find

https://www.bls.gov/cps/cpsaat39.htm

Median individual income extrapolated from first quarter data of 2024 is $59,228

https://www.bls.gov/news.release/pdf/wkyeng.pdf

Rent units median in January 2024 is>

Overall $1,712

Studio $1,434

1-bed $1,591

2-bed $1,892

https://www.realtor.com/research/january-2024-rent/

2019 Total:$1,097

No bedroom:$934

1 bedroom: $953

2 bedrooms: $1,086

3 bedrooms: $1,217

4 bedrooms: $1,519

5 or more bedrooms $1,586

https://data.census.gov/table?q=B25031: Median Gross Rent by Bedrooms&y=2019