Housing costs remain high, with rental prices in 2024 still 20% above 2019 levels, despite a slight drop. Nearly half of renters are cost-burdened, spending over 30% of their income on housing. A study by CashNetUSA identified the 15 most affordable ZIP codes for renters, which are primarily in suburbs of major cities. These areas typically have higher median household incomes, making rent a smaller percentage of income. Notable cities include Kansas City, Detroit, and Houston, all experiencing significant population growth.
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