Enjoy access to a free NMLS renewal class when you attend an in-person event.
Florida and California are home to renters that carry the highest cost burdens on their housing expenses, according to new data released by Abodo.
Among the top 10 cities where renters spend more than 30 percent of their income on rent, California occupied six slots while Florida dominated in the top market (the Miami-Fort Lauderdale-West Palm Beach corridor, with at 63.89 percent of renters saw more than 30 percent of their income going into housing costs) and in the third-place market (the Deltona-Daytona Beach-Ormond Beach metro, at 58.80 percent). Urban Honolulu placed in second, at 59.24 percent.
On a national scale, 19 out the top 100 Metropolitan Statistical Areas (MSAs) with the most renters had cost-burdened renters. In nearly every market, the majority of the cost-burdened renters make less than $20,000 per year. But if the list was expanded to smaller and medium-sized metro areas, Atlantic City, N.J. would lead the nation with 65.54 percent of its renters falling into the cost-burdened definition.