{"id":94045,"date":"2026-08-14T15:13:13","date_gmt":"2026-08-14T15:13:13","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/americans-paychecks-are-getting-swallowed-by-rent-see-how-much-people-pay-in-major-u-s-cities\/"},"modified":"2026-08-14T15:13:13","modified_gmt":"2026-08-14T15:13:13","slug":"americans-paychecks-are-getting-swallowed-by-rent-see-how-much-people-pay-in-major-u-s-cities","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/americans-paychecks-are-getting-swallowed-by-rent-see-how-much-people-pay-in-major-u-s-cities\/","title":{"rendered":"Americans&#8217; paychecks are getting swallowed by rent. See how much people pay in major U.S. cities."},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Sky-high rental costs across the U.S. are swallowing up a large share of Americans&#8217; paychecks in cities, as a stubborn supply shortage keeps prices elevated.<\/p>\n<p>According to Zillow, the median rent for a two-bedroom home in New York City, the country&#8217;s priciest metro area, runs $4,750 a month \u2014 or $57,000 a year. That&#8217;s more than two-thirds of the median household income, according to 2023 Census Bureau <a href=\"https:\/\/smartasset.com\/retirement\/average-salary-in-nyc\" target=\"_blank\" rel=\"noopener\">data<\/a>.<\/p>\n<p>Meanwhile, the high cost of keeping a roof over your head is weighing on Americans across the country, with the median annual rent now at $21,480, Zillow&#8217;s data shows. The real estate firm estimates that nearly half of all U.S. renters are &#8220;cost-burdened,&#8221; meaning that more than 30% of their income goes toward housing expenses. Among families with children under 18, 54% are rent-burdened, Zillow found.\u00a0<\/p>\n<p>&#8220;While the pace of increases has slowed, rents remain at a high level relative to income, and the share of cost-burdened renters has held at around 50% since the pandemic,&#8221; Zillow and StreetEasy senior economist Kenny Lee told CBS News in an email.<\/p>\n<p>Painfully high rent is particularly hard on low-income people. More than eight in 10 renters earning under $30,000 a year were cost-burdened in 2024, according to a\u00a0<a href=\"https:\/\/www.jchs.harvard.edu\/sites\/default\/files\/reports\/files\/Harvard_JCHS_Americas_Rental_Housing_2026.pdf\" target=\"_blank\" rel=\"noopener\">report<\/a>\u00a0released earlier this year by Harvard University&#8217;s Joint Center for Housing Studies.<\/p>\n<h2>Why have rents spiked?<\/h2>\n<p>A severe housing shortage is the main reason rents have surged. The housing market faces a shortfall of 4.7 million homes, the result of two decades of underbuilding that began after the 2008 financial crisis. That gap also pushes more people into the rental market, further straining housing supply.\u00a0<\/p>\n<p>Lee said that while there&#8217;s land available for development, construction has been bogged down by zoning restrictions and regulatory red tape, creating a backlog of projects in high-demand rental markets.<\/p>\n<p>&#8220;Until those barriers come down, supply can&#8217;t catch up,&#8221; he said. &#8220;When you have a lot of people competing for too few homes, prices go up, particularly for bigger apartments that are already in scarce supply.&#8221;<\/p>\n<p>Here&#8217;s what it costs to rent a typical two-bedroom apartment in cities across the U.S.<\/p>\n<div>\n<div style=\"min-height:517px\" id=\"datawrapper-vis-t306g\"><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/t306g\/full.png\" alt=\"Median annual rent across 50 major U.S. cities (Symbol map)\"\/><\/div>\n<\/div>\n<p>A bipartisan bill intended to shore up the nation&#8217;s supply <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/housing-bill-becomes-law-trump-sign\/\" data-invalid-url-rewritten-http=\"\">became law<\/a><\/span> earlier this year, with the White House <a href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2026\/06\/national-homeownership-month-2026\/\" target=\"_blank\" rel=\"noopener\">hailing<\/a> it as &#8220;the most comprehensive and consequential housing legislation in the history of our country.&#8221; However, while it&#8217;s expected to boost supply over time, <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/road-to-housing-act-home-prices-senate\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">experts say<\/a><\/span> it won&#8217;t immediately ease price pressures.<\/p>\n<section class=\"content__body--footer\">\n<p class=\"content__meta--editors\">\n      Edited by<\/p>\n<p>                                  <a href=\"https:\/\/www.cbsnews.com\/team\/alain-sherter\/\" class=\"byline__author__link\" data-invalid-url-rewritten-http=\"\">Alain  Sherter<\/a>\n                      <\/p>\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation  \">\n        <\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<p class=\"content__tags__label\">In:<\/p>\n<\/section>\n<\/section><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/us-rental-market-housing-shortage\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sky-high rental costs across the U.S. are swallowing up a large share of Americans&#8217; paychecks in cities, as a stubborn<\/p>\n","protected":false},"author":1,"featured_media":94046,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[1162,3226,6129],"class_list":["post-94045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-watch","tag-affordable-housing","tag-housing-crisis","tag-rents"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Americans&#039; paychecks are getting swallowed by rent. 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