A new study released by BestPlaces.net reveals millions of renters are considered cost-burdened or extremely cost-burdened. Zip codes in Texas, New Jersey, Illinois, California, and Maryland top the list of most rent-burdened U.S. zip codes.
PORTLAND, Ore. (PRWEB) November 18, 2021
Most Rent-Burdened Zip Codes
BestPlaces.net has released its list of most rent-burdened zip codes for 2021. According to the Department of Housing and Urban Development, renters paying over 30% of their income on housing are cost-burdened, while renters paying over 50% of their income on housing are extremely cost-burdened.
- #1 - Zip Code 78705 - Austin, Texas
- #2 - Zip Code 07734 - Keansburg, New Jersey
- #3 - Zip Code 60464 - Palos Park, Illinois
- #4 - Zip Code 93405 - San Luis Obispo, CA
- #5 - Zip Code 20607 - Accokeek, Maryland
- #6 - Zip Code 79401 - Lubbock, Texas
- #7 - Zip Code 06268 - Storrs, Connecticut
- #8 - Zip Code 86011 - Flagstaff, Arizona
- #9 - Zip Code 92617 - Irvine, California
- #10 - Zip Code 15213 - Pittsburgh, Pennsylvania
At the top of the list is zip code 78705 in Austin, Texas where renters spend 98% of their income on rent. Zip codes in Texas, New Jersey, Illinois, California, and Maryland are also included in the list of most rent-burdened U.S. zip codes.
Zip code 78705 is oriented around The University of Texas at Austin’s Main Campus. Roughly 90% of the population are renting and 77% of residents are between the ages of 15 and 24 years old. Because of its proximity to the state’s largest university of over fifty thousand enrollees, this zip code is a popular location for student housing.
Students, especially those taking classes full time, typically use parental support, loans, or savings to pay rent, instead of income. 60% of the zip codes in the BestPlaces study either neighbor a college campus or are on a college campus.
The full list of 10 zip codes with infographics and analysis is available here.
BestPlaces.net is the leading online resource for place and demographic data, with over 3 million visitors a month. The study was produced in collaboration with data journalist Amye Cutlip.