When Exactly Did Rent Get Too Damn High?

When Exactly Did Rent Get Too Damn High?

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Tara Bellucci
Jul 22, 2015
(Image credit: Ryan DeBerardinis/Shutterstock)

If you live in (or had to move from) a big city, it might seem like rents have always been astronomical. But experts have pinpointed exactly when New York apartments became unaffordable to young people.

It was in the second quarter of 2004 when the median rent in New York exceeded 30% of young workers' median income, the point in which housing is deemed unaffordable, says an analysis by Zillow.

Other cities' unaffordable moments include: San Francisco in 2003, Boston in 2005, Chicago in 2012, and Houston in 2014.

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