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

“Since pre-pandemic, the income needed to afford rent has increased by 31.5%,” Zillow’s chief economist, Skylar Olsen, wrote yesterday.

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

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Somewhat related: last week I saw my old job from 2008 listed online.

Sixteen years later, and the compensation for that job is ten percent LESS today than what I made in 2008.
My apt from 2016 went from $1250 to $2000 a month in five years. Nothing has changed. I moved during the first increase and been keeping tabs.