MultiHousingNews | Young Renters Making Trade-Offs in Response to Inflation

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    Dec 8, 2022

    Of the young renters surveyed by Wakefield Research, 51% reported they had experienced a rent hike in the past year, with an average increase of 30%. Of these renters, less than 7% said they had the resources to cover the increase without changing their lifestyle.The remaining 93% planned to take or have already taken action to address higher rents, with most taking multiple steps. That included cutting back on extra purchases (54%), looking for a new job or side gig (39%) and looking for a new place to live (34%).

    Source: Young Renters Making Trade-Offs in Response to Inflation – Multifamily Real Estate News

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