An American retail worker earns 51.6 percent less than the amount required to afford a typical rental apartment, real estate brokerage Redfin said in a statement released on Nov. 26.
“The typical retail worker in America earns $34,436 per year,” the company said.
“A renter would need to earn $71,172 to afford the typical apartment, which costs $1,779 per month.”
This signifies a shortfall of $36,736 needed to afford an apartment, even though overall affordability has improved slightly in recent years.
In Cleveland, a typical retail worker earns 32.9 percent less than needed to afford a residence, the smallest shortfall among 40 metropolitan areas analyzed by the brokerage. This was followed by St. Louis, San Antonio, Kansas City, and Milwaukee. These places have some of the lowest rents in the country….