More Than 40% of Lower-Income Households in the Bay Area and Seattle are Rent-Burdened
Share this article Share this article SEATTLE, Feb. 3, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — 41.3% of households earning 80% of the local median income in San Jose and 42.7% in Seattle are rent-burdened, according to a new analysis from Redfin (www.redfin.com), the technology-powered real estate brokerage. While high-income households living in those areas can afford to buy or rent a home, lower-income people like teachers and retail workers have a harder time paying for housing. "Seattle is turning into Silicon Valley, with software engineers driving up home prices. That's especially true...
Source: prnewswire.com