Rents are falling in many parts of the country at the same time that wages are rising. That's why college grads are less likely to be rent burdened than they were last year.
In San Jose, a recent college grad would need to spend almost 28% of their income to rent a typical, two-bed apartment... That’s just below the rent-burdened threshold, which is defined as spending more than 30% of your earnings on housing.
The typical recent college grad would need to spend almost 21% of their income to rent a median priced, two-bedroom apartment... down from close to 23% last year, according to a recent Redfin analysis.
The Bay Area has the highest salaries for college grads... the typical recent college grad in San Jose makes roughly $108,500, and the median asking rent for a two-bedroom home in San Jose fell close to 2% from a year ago.
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