Here's Why It's More Expensive to Rent in Some Cities

Here's Why It's More Expensive to Rent in Some Cities

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Tara Bellucci
Mar 28, 2015
(Image credit: Mark Baldwin/Shutterstock)

If your rent is a huge chunk of your paycheck, you're not alone. There's a reason: cities with the lower numbers of building permits per 1,000 new residents have fewer options and increased rents. Los Angeles, for example, issued 187 permits per 1,000 new residents, and you'll spend about 48% of your income on rent; in Chicago, there were 906 permits and rent is 31%.

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