If you have the sense that rents have dramatically risen in your community, you are not alone. A recent Moody's analysis (4Q 2022) found that the average renter (and 36% of Americans rent their homes) is paying 30% of their income for shelter. Find out what has happened in your county using the interactive below. 

Click to go to the interactive map and see what the results were in your county:

Questions:

• Did rents increase in your county since 2020? What do you think led to the increase/decrease in rental costs? 
• Did most counties in your state see an increase/decrease in rental costs? 
• What are ideas on how you can minimize your rental costs? 

For more on trends in rental costs:

• Key Takeaways from the 4th Quarter Housing Affordability Update (Moody's Analytics report)
• The Typical American Renter Is Now Rent-Burdened, a Report Says (NY Times; sub. required)
• Housing Costs a Big Burden on Renters in Largest U.S. Counties (U.S. Census)

---------------------

Students create a real-life budget with this popular activity, Create: A Salary Based Budget

---------------------

NGPF's Semester Course has a lesson to highlight housing costs, Budgeting for Your Home

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

More posts by Tim