Rents Rise, But Many Millennials Seem Unfazed

May 11, 2015

Paying rent continues to become more expensive, but a survey of 1,000 millennial renters found most don’t mind paying more to stay in an apartment they love.

The survey, conducted by Rent.com, found that 55 percent are willing to spend up to $150 more per month to stay in an apartment they love, while 24 percent are willing to pay an additional $400 a month.

But wages aren’t keeping up with rental costs in many markets throughout the country. According to HousingWire, 22 percent of the millennial respondents are spending up to 40 percent of their annual income on rent.

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