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It Looks Like Not Being Able To Afford Rent Is Completely Normal Now

It Looks Like Not Being Able To Afford Rent Is Completely Normal Now

You know how you have that one friend on Facebook from high school who you haven’t talked to in seven years but you just can’t delete them because their sad posts about going out to the Chili’s in your hometown just makes you feel a little bit better? This post is like that friend. There’s something about other people having it rough that just makes you feel a little bit more at peace with the way your life is headed, so get ready for a little bit of an ego boost. You’re not the only one who’s broke AF these days – as it turns out, almost no one in the entire U.S. can afford their rent.

Results from a new study from Harvard are in, and if you make under $45,000 a year, you probably can’t afford your rent. In case you were wondering, the average American only makes around $27,000 a year, and 66% of all Americans earn under $42,000 a year. Essentially, we’re all pretty much fucked.

Many large cities are in the middle of a housing boom, making it a little harder on all of us to find a cheap place to live. Last year, only 10% of new rental units went for under $850, while over 1/3 of all new places went for over $1,650 a month. Ouch.

Even though rents are high (and still rising), the silver lining here is that a decline is inevitable. In the housing market, rising rents and an abundance of new apartments means that in a few years, the market will be oversaturated and rents will go back down, so you’ve just gotta ride out the wave. In the meantime, put out an ad on Craigslist for an extra roommate and just know that at least everyone else has it just as shitty as you do right now.

[via NBC News]

Image via Shutterstock

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Steph W.

Steph W. is a new Master's degree graduate with an intern's salary and six-figure taste. She realizes her expectations far exceed reality, so she spends her days pinning away Loubs she pretends are in her physical closet instead of her virtual one. Her hobbies include attempting to trapping her boyfriend into marriage before he finds out how insane she is and pretending that Black Box wine tastes as good as the kind she could afford when she was gainfully employed. Send her tips for getting out of student debt at recruitchairtsm@gmail.com

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