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While Gen Z renters have it easier than their Millennial counterparts nationwide, in Greater Boston, they actually face the greater rent burden.

According to a new analysis of Census data by data firm StreetEasy and real estate listings portal Zillow, 59.6 percent of Gen Z renters in Boston are rent-burdened. This is greater than the national average of 58.6 percent.

“The experience of struggling to pay rent on an entry level salary is familiar to so many of us that it’s almost become normalized in our society,” StreetEasy senior economist Kenny Lee said in a statement. “But this is something that should not be normal. Rent burden makes it a struggle for these young adults to afford the other expenses in their lives – things like student loans and medical payments. It’s deeply damaging to their ability to save for future life goals, like one day owning a home.”

Back in 2012, when the Millennial generation was the age of current Gen Z renters, 58.2 percent of Millennials were rent-burdened, further showing the affordability issues that young renters in Boston are having to deal with. The nationwide picture is slightly improved as the share of rent-burdened millennials was 60.2 percent.

Gen Z renters in Boston have an annual average income of $67,000 but the average rent for Gen Z renters is $2,130.

“While these large metropolitan areas may be known to have more expensive housing, we have to recognize that they’re also where the jobs are,” Zillow rental trends expert Emily McDonald said in a statement. “For many Gen Z renters, choosing to live in a less expensive city may come at the expense of their career, which is why it’s so necessary we find ways to make living in these areas more affordable for young adults.”

Gen Z Renters in Boston Feeling Rent Burden

by Sam Minton time to read: 1 min
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