32% of Your Income Is Spent on Rent and Other Super Fun Facts About Philly’s Rental Market
Real estate swami Trulia has crunched the numbers on the rental market in the nation’s biggest cities. Here’s what they found about Philly:
- Rents increased by 4.5% last year (Compared to 3.7% in NYC and 2% in D.C.)
- 32% of our incomes are spent on rent (Compared to 58% in NYC and 39% in D.C. So booyah.)
- Along with Houston, we’re one of only two major U.S. cities in which rent prices are outpacing home prices.