3 in 5 Gen Z renters are rent burdened, but Millennials had it worse
Nearly half of U.S. renter households are rent burdened, with Gen Z renters (ages 18-25) facing significant challenges. According to Zillow and StreetEasy's analysis of the 2022 ACS, 58.6% of Gen Z renters nationwide spend more than 30% of their income on housing. In 21 of the 30 largest U.S. metros, this share is even higher, with cities like San Diego, Los Angeles, and Sacramento seeing nearly three-quarters of Gen Z renters rent burdened. Comparatively, 60.2% of Millennials were rent burdened at the same age in 2012. Rent burden among young adults has seen a decline in cities like Austin but an increase in Houston. Zillow and StreetEasy are working to reduce upfront rental costs and provide tools to help renters manage affordability.
Quasi la metà delle famiglie in affitto negli Stati Uniti ha difficoltà a far fronte all'affitto, con i giovani della Gen Z (fascia d'età 18-25) che affrontano sfide significative. Secondo l'analisi di Zillow e StreetEasy relativa all'ACS 2022, il 58,6% degli affittuari della Gen Z a livello nazionale spende più del 30% del proprio reddito per l'alloggio. In 21 delle 30 metropoli più grandi degli Stati Uniti, questa percentuale è ancora più alta, con città come San Diego, Los Angeles e Sacramento che mostrano quasi tre quarti degli affittuari della Gen Z in difficoltà. A titolo di confronto, nel 2012 il 60,2% dei Millennial si trovava nella stessa situazione a quell'età. Il problema dell'affitto tra i giovani adulti ha mostrato una diminuzione in città come Austin, ma un aumento a Houston. Zillow e StreetEasy stanno lavorando per ridurre i costi di affitto iniziali e fornire strumenti per aiutare gli affittuari a gestire l'accessibilità.
Casi de casi de medio de los hogares de inquilinos de EE. UU. tienen dificultades con la renta, con los inquilinos de la Generación Z (edades de 18 a 25 años) enfrentando desafíos significativos. Según el análisis de Zillow y StreetEasy del ACS 2022, el 58.6% de los inquilinos de la Generación Z a nivel nacional gastan más del 30% de sus ingresos en vivienda. En 21 de las 30 áreas metropolitanas más grandes de EE. UU., esta proporción es aún más alta, con ciudades como San Diego, Los Ángeles y Sacramento observando que casi tres cuartas partes de los inquilinos de la Generación Z están en dificultades. En comparación, el 60.2% de los Millennials estaban en dificultades a la misma edad en 2012. La carga de renta entre los adultos jóvenes ha visto una disminución en ciudades como Austin, pero un aumento en Houston. Zillow y StreetEasy están trabajando para reducir los costos de alquiler iniciales y proporcionar herramientas para ayudar a los inquilinos a gestionar la asequibilidad.
미국의 세입자 가구의 거의 절반이 임대료 부담을 느끼고 있으며, Z세대 세입자(18-25세)가 중요한 도전에 직면해 있습니다. Zillow와 StreetEasy의 2022 ACS 분석에 따르면, 전국적으로 Z세대 세입자의 58.6%가 소득의 30% 이상을 주택에 지출하고 있습니다. 미국의 30대 대도시 중 21개 도시에서는 이 비율이 더 높아, 샌디에이고, 로스앤젤레스, 새크라멘토와 같은 도시에서는 Z세대 세입자의 거의 3/4가 임대료 부담을 느끼고 있습니다. 비교를 위해 2012년 같은 나이의 밀레니얼 세대는 60.2%가 임대료 부담을 느꼈습니다. 젊은 성인 사이의 임대료 부담은 오스틴과 같은 도시에서는 감소했지만, 휴스턴에서는 증가했습니다. Zillow와 StreetEasy는 초기 임대료를 줄이고 세입자들이 경제성을 관리하는 데 도움을 주기 위해 노력하고 있습니다.
Près de la moitié des ménages locataires aux États-Unis sont confrontés à des charges locatives, les locataires de la génération Z (âgés de 18 à 25 ans) faisant face à des défis significatifs. Selon l'analyse de Zillow et StreetEasy sur l'ACS 2022, 58,6% des locataires de la génération Z dans tout le pays dépensent plus de 30% de leurs revenus pour se loger. Dans 21 des 30 plus grandes métropoles américaines, cette part est encore plus élevée, avec des villes comme San Diego, Los Angeles et Sacramento voyant près des trois quarts des locataires de la génération Z en difficulté. En comparaison, 60,2% des Millennials étaient en difficulté au même âge en 2012. La charge locative parmi les jeunes adultes a diminué dans des villes comme Austin mais a augmenté à Houston. Zillow et StreetEasy travaillent à réduire les coûts de location initiaux et à fournir des outils pour aider les locataires à gérer l'accessibilité.
Fast die Hälfte der Miethaushalte in den USA ist mit Mietbelastungen konfrontiert, wobei die Mieter der Generation Z (18-25 Jahre) mit erheblichen Herausforderungen kämpfen. Laut der Analyse von Zillow und StreetEasy des ACS 2022 geben 58,6% der deutschlandweiten Mieter der Generation Z mehr als 30% ihres Einkommens für Wohnraum aus. In 21 der 30 größten Metropolregionen der USA ist dieser Anteil sogar noch höher, wobei Städte wie San Diego, Los Angeles und Sacramento fast drei Viertel der Gen Z-Mieter belastet sind. Im Vergleich dazu waren im Jahr 2012 60,2% der Millennials im gleichen Alter belastet. In Städten wie Austin hat die Mietbelastung bei jungen Erwachsenen abgenommen, jedoch in Houston zugenommen. Zillow und StreetEasy arbeiten daran, die anfänglichen Mietkosten zu senken und Werkzeuge bereitzustellen, um Mietern bei der Verwaltung der Erschwinglichkeit zu helfen.
- In 17 of the country's 30 largest metros, Millennials in 2012 were more likely to experience rent burden than Gen Z renters in 2022.
- Austin saw a 9.5% decline in the share of rent burdened young adults over the past decade.
- 58.6% of Gen Z renters nationwide are rent burdened.
- In 21 of the country's 30 largest metros, more than 60% of Gen Z renters are rent burdened.
- Houston saw an 11.9% increase in the share of rent burdened young adults over the past decade.
- The trend of declining rent burden reversed in recent years due to surging rental demand and undersupply.
Insights
The data reveals a concerning trend in rental affordability for young adults, with 58.6% of Gen Z renters nationwide being rent-burdened. This is a slight improvement from Millennials a decade ago (60.2%), but still represents a significant financial strain.
Key insights:
- In 21 of 30 major metros, over 60% of Gen Z renters are rent-burdened
- Highest burden in San Diego (73.4%), Los Angeles (71.7%) and Sacramento (71%)
- Austin saw the largest improvement (-9.5%), while Houston worsened (11.9%)
- Median gross annual income for Gen Z ranges from
$34,614 (Cincinnati) to$70,000 (San Francisco)
This widespread rent burden could have long-term implications for Gen Z's financial health, potentially delaying major life milestones and wealth accumulation. The situation calls for policy interventions and innovative solutions to address housing affordability in major job markets.
The persistent high levels of rent burden among young adults in major metros highlight a structural issue in urban housing markets. Despite slight improvements since the Millennial experience, the problem remains acute, particularly in high-cost coastal cities.
Factors contributing to this trend include:
- Continued urbanization and job concentration in major cities
- Lagging housing supply in high-demand areas
- Stagnant wage growth relative to housing costs
- Potential mismatch between entry-level salaries and local living costs
The variation across cities (e.g., Austin's improvement vs. Houston's decline) suggests local policies and economic conditions play a significant role. This data underscores the need for targeted urban planning, zoning reforms and affordable housing initiatives to ensure economic vitality and diversity in major metropolitan areas.
More than half of Gen Z renters are rent burdened in each of the country's 30 largest metros
58.6% of Gen Z renters nationwide are rent burdened, though60.2% of Millennials experienced rent burden at the same age- In more than half of the 30 largest
U.S. metros, Millennials in 2012 were more likely to be rent burdened than Gen Z renters at the same age in 2022 - Over the past decade, rent burden for young adults has decreased the most in
Austin and increased the most inHouston
The picture today for Gen Z-ers is similar to –though slightly improved from – Millennials' experience a decade before. In 2012,
"The experience of struggling to pay rent on an entry level salary is familiar to so many of us that it's almost become normalized in our society," said StreetEasy Senior Economist Kenny Lee. "But this is something that should not be normal. Rent burden makes it a struggle for these young adults to afford the other expenses in their lives – things like student loans and medical payments. It's deeply damaging to their ability to save for future life goals, like one day owning a home."
In 17 of the country's 30 largest metros, Millennials in 2012 were more likely to experience rent burden than Gen Z renters in 2022. However, the improvement has been modest. In each of those 30 metros, at least half of Gen Z renters are rent burdened.
"While these large metropolitan areas may be known to have more expensive housing, we have to recognize that they're also where the jobs are," said Zillow Rental Trends Expert Emily McDonald. "For many Gen Z renters, choosing to live in a less expensive city may come at the expense of their career, which is why it's so necessary we find ways to make living in these areas more affordable for young adults."
Zillow and StreetEasy tools
Zillow and StreetEasy have a number of tools that help renters with affordability and access.
The upfront costs of finding a place to rent can add up, with Zillow research showing those costs tend to be higher for renters of color. In
For all Zillow rental listings, Zillow includes a costs & fees breakdown to help renters get a better idea of the affordability picture by highlighting certain one-time costs, such as application fees and security deposits, as well as recurring costs, such as parking. While the typical renter nationally pays
Zillow rental listings also include rooms for rent — individual rooms in units or homes — bringing more affordable rentals online. Renters using Zillow can include "room" listings in their searches alongside traditional "entire place" options.
Metro Area* | Total Gen Z | Gen Z Median | Gen Z Median | Share of Rent- | Share of Rent- |
5,233,773 | 58.6 % | 60.2 % | |||
50,018 | 73.4 % | 66.9 % | |||
135,094 | 71.7 % | 71.2 % | |||
31,669 | 71.0 % | 67.9 % | |||
43,727 | 68.9 % | 74.9 % | |||
51,910 | 67.7 % | 64.8 % | |||
44,256 | 67.1 % | 68.4 % | |||
122,792 | 66.2 % | 54.3 % | |||
122,119 | 65.6 % | 67.0 % | |||
45,548 | 65.5 % | 58.5 % | |||
80,812 | 64.4 % | 59.6 % | |||
50,337 | 63.5 % | 64.2 % | |||
79,916 | 62.8 % | 61.9 % | |||
33,284 | 62.0 % | 66.7 % | |||
65,518 | 61.8 % | 56.2 % | |||
53,909 | 61.1 % | 54.6 % | |||
34,553 | 61.0 % | 61.4 % | |||
143,772 | 60.4 % | 55.1 % | |||
42,134 | 60.4 % | 59.8 % | |||
73,321 | 59.7 % | 58.2 % | |||
72,975 | 59.6 % | 69.2 % | |||
47,708 | 59.6 % | 63.0 % | |||
84,624 | 58.1 % | 61.1 % | |||
81,601 | 58.0 % | 59.7 % | |||
38,752 | 57.1 % | 61.7 % | |||
44,249 | 57.1 % | 58.4 % | |||
130,472 | 56.9 % | 59.5 % | |||
88,933 | 55.0 % | 64.2 % | |||
47,972 | 52.8 % | 53.3 % | |||
46,325 | 50.4 % | 57.8 % | |||
33,760 | 49.8 % | 55.4 % |
* | Metro areas ordered by the share of rent-burdened adult Gen Z households |
** | Includes only |
About Zillow Group
Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people. As the most visited real estate website in
Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans℠, Trulia®, Out East®, StreetEasy®, HotPads®, ShowingTime+℠, Spruce® and Follow Up Boss®.
All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2023 MFTB Holdco, Inc., a Zillow affiliate.
View original content to download multimedia:https://www.prnewswire.com/news-releases/3-in-5-gen-z-renters-are-rent-burdened-but-millennials-had-it-worse-302280027.html
SOURCE Zillow
FAQ
What percentage of Gen Z renters are rent burdened nationwide in 2022?
How does the rent burden of Gen Z renters in 2022 compare to Millennials in 2012?
Which U.S. metros have the highest share of rent burdened Gen Z renters?
Which city saw the largest decline in rent burden among young adults over the past decade?
Which city experienced the most significant increase in rent burden among young adults?
