Rents are so damn high. But the situation is somewhat better than last year, and it’s good news for one particular group: recent college graduates.
The typical recent college grad would need to spend almost 21% of their income to rent a median-priced, two-bedroom apartment, equal to $1,725 a month—and that’s assuming they’re splitting the rent with a roommate. But that’s down from close to 23% last year, according to a recent Redfin analysis of apartment asking rents through July 2024 and estimated 2024 salaries for employed college graduates ages 22 to 29, so a lot of Gen Zers and some millennials.
