Even though rental prices dropped slightly in 2024, rent prices are still 20% higher than they were in 2019, impacting nearly half of renters who are cost-burdened.
CashNetUSA's study highlights the 15 most affordable ZIP codes for renters in 2024 by comparing average annual rent with local median household income, vital for assessing affordability.
Affordable housing is evaluated by determining if average rent prices are less than 30% of the area median income (AMI), a critical factor for many renters.
Despite a general trend of rising rents, certain neighborhoods still provide more affordable options, showcasing significant variance in housing costs across different locations.
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