This unbearable West Midw city is more affordable for tenants

In an era where housing costs are exceeding salary increases, finding a city where rent does not devour a payment check is increasingly rare.

Over the past decade, the Federal Reserve Consumer Price Index shows that the rent has increased by more than 50%, following the prices of large homes.

However, stagnant wages have left a lot struggling to continue, pushing the affordable housing out of reach of an increasing number of Americans.

To identify cities where tenants can still find financial relief, Wallethub, a personal finance platform, examined the average gross annual rent in more than 180 American cities and compared it to average family income.

The resulting report ranks cities according to their rental-rented report, places of attention where housing costs receive the smallest bite from income.

“In the most affordable cities for tenants, the average rental cost is as low as 15% of the average income, compared to more than 33% in the most expensive cities,” said Chip Wolf, a Walub analyst.

“This gives people in the least expenditure cities a clear financial advantage; the money they saves rented to their emergency or savings for future home ownership.”

At the top of the list is Bismarck, North Dakota, where tenants spend only 15.34% of their average rental income.

As the city boasts the 20th lower average annual rent among the study cities, its hottest 73rd income generates a favorable balance, making the costs of housing extremely manageable.

For perspective, Miami’s tenants face a fierce contrast, devoting 33.48% of their rented income – more than the double part of Bismarck.

Sioux Falls, South Dakota, claims second place, with rent consuming 15.95% of average income.

Its average annual rent is ranked as 21-cheapest nationwide, paired with the 88th best average income, providing its place as a center-to-date center.

Cheyenne, Wyoming, rounds the top three places, with tenants sharing 16.09% of their housing profits.

The city’s rent is the 30th cheapest in the country, and its 76 more rigid revenue helps maintain a low rental ratio.

10 main list includes cities like cedar speed, Iowa (16.36%); Fargo, North Dakota (16.65%); and Charleston, West Virginia (16.70%) – where tenants benefit from low housing costs compared to income.

Western and Midwestern cities predominate, with Casper, Wyoming (16.72%); Overland Park, Kansas (16.81%); and Juneau of Alaska (17.45%) and Anchorage (17.76%) also making the cut.

Then there are foreigners at high cost.

On the other side of the specification, cities like Miami (33.48%); Newark, New Jersey (32.96%); and New Haven, Connecticut (32.18%) loads tenants at the cost that eat nearly a third of their income.

Detroit (31.35%); Glendale, California (29.84%); And Bridgeptort, Connecticut (29.80%) also rank among the most affordable, high -lease financial centers and lower average income.