In the US, people spend an amount equal to a week's salary on rent each month, and in some cities, two whole weeks' income goes just to housing, Fortune reports, writes UNN.
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The median rent in the US has increased from approximately $824 in 2008 to over $1300 in 2025. As rent has grown faster than wages, people in the US are spending a much larger portion of their income on housing. On average, a week's salary is now required for monthly rent, the publication writes.
It is noted that only in the period from 2022 to 2025, rent increased by almost 6%.
A recent analysis of housing data by Self Financial, based on US Census data, apartment listings, the Bureau of Labor Statistics, and the Federal Reserve, shows how many working hours people in the US spend on housing each month.
On average, it takes 38.3 hours of work in the US to cover monthly rent, which corresponds to an average work week. However, there is a significant difference across states in the US in the number of working hours required to pay rent.
According to Self Financial's analysis, Vermont residents need to work 60.2 hours per month to cover the average monthly rent, which is the highest among all states. South Dakota residents only need 27.6 hours to cover rent, placing them last. New York residents need to work the most hours to pay rent, at 90.2 hours.
Here are the five US states with the most hours required to cover average monthly rent:
- Vermont: 60.2 hours;
- Hawaii: 59.9 hours;
- California: 52.4 hours;
- New Jersey: 50.4 hours;
- Maryland: 50.3 hours.
And here are the five US states with the fewest hours required to cover average monthly rent:
- Maine: 32.3 hours;
- North Dakota: 32.2 hours;
- Alabama: 31.4 hours;
- Arkansas: 31.1 hours;
- South Dakota: 27.6 hours.
While the outlook for rental housing in the US may seem bleak, there is a small glimmer of hope. According to Redfin, as of May, the median rent in the US has decreased by approximately 1% year-over-year. This is due to apartment construction nearing a 50-year high, Redfin economists note.
"Despite high demand from renters, it's not keeping up with supply," said Sheharyar Bokhari, a senior economist at Redfin. "Many apartments are sitting vacant for months, which means renters can negotiate concessions, and landlords have less leverage to keep rents high."
Meanwhile, according to the S&P CoreLogic Case-Shiller Home Price Index in the US, renting a home is still much cheaper than buying one, thanks to sky-high mortgage rates approaching 7% and home prices that are 55% higher than at the beginning of 2020.