As home prices continue to rise, many prospective buyers are getting priced out and are forced to stay in the rental market longer. This in turn drives up rental prices and drives down vacancy rates. Consequently, rent as a percentage of income has increased to 29.2% in Q2 2017, up from the 1985-2000 historic rate of 25.8%.
In general, those in big cities have been affected the most, with average rental prices routinely topping $1,000/month for a 1 bedroom apartment. With that in mind, ConsumersAdvocate.org decided to see which big cities still offered reasonable rental prices.