Record-high share of income is spent on rent

The rent-to-income ratio is the highest EVER (or at least since 1979, because Zillow only has data from that far back). Renters on a national average can expect to pay 30.2% of their income on rent, while renters in the San Francisco metro area pay a whopping 47% of their incomes on rent (only trailing behind LA). 

Thanks to the perfect combination of increased demand and limited supply as income levels stay relatively flat, the outrageous proportion of incomes spent on rent will continue to rise as rent increases too. These unaffordable rents are making it hard for people to save for a downpayment, retirement, and even basic expenses like food and healthcare. ​