Renting a home in the United States is at the cheapest level in nearly three years, with Texas metros, Austin, Dallas, and Houston, being the most affordable, according to real estate brokerage Redfin.
“Renters need to earn $63,680 to afford the median asking rent for a U.S. apartment ($1,592), the lowest amount needed since March 2022,” said a Jan. 22 statement from the company. “That’s down 0.4 percent from a year ago and a drop of 6.4 percent from August 2022 when the median asking rent hit an all-time high of $1,700. Back then, a renter would have had to earn $68,000 to afford the typical apartment—nearly $5,000 more than today.”…