20 Popular U.S. Cities

(and how affordable are they, really?)

As more people are driven to rent vs. own, and job growth continues to impact moving behavior, where will people choose to live?

We identified 20 of the most popular cities in the U.S. and asked, “How affordable are they, really?”

Narrative by AppFolio and Axiometrics
Apartment data provided by Axiometrics
DEFINITION

What Is Affordability?

If you spend 50% or more of your monthly income on rent, it is considered a rent burden, i.e., not affordable.

Let’s take a look at the cost of renting in some of the top U.S. cities.

Effective Rent Growth
Average Monthly Cost to Rent an Apartment
Average Monthly Household Income
% of monthly income spent on rent:
Rent Growth and Average Rent data provided by Axiometrics.

By 2025, almost 16 million people will spend over 50% of their income on housing.

The demand for affordable housing is a growing trend at the forefront of opportunity for the property management industry.

Average Monthly Household Incomes sourced from: htaindex.cnt.org
Q4 2016 Effective Rent Growth and Average Monthly Rent data provided by Axiometrics
Affordability calculations based on percentage of Average Monthly Household Income put toward the Average Monthly Apartment Rent

AppFolio's cloud-based property management software enables thousands of property managers to leverage important trends so they can stay competitive and grow their business. Want to learn more about AppFolio Property Manager?

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