Keeping with this week’s theme of affordable rental housing, here’s a chart from Howard Blackson’s Twitter page (not sure its original source) showing the percentage of income paid in rent, on average:
In general, one should not pay more than 1/3 of one’s income to the landlord.
The idea behind this chart is that you can pinpoint the exact time when “your city became unaffordable.” Does anyone have info on average income for young people in Minneapolis or other parts of Minnesota? How would we compare?
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