Property facts & stats

Question 1

According to the 2024 American Community Survey, what was the median U.S. gross monthly rent (including utilities)?

Accepted Answer

$1,487/month. That was up 2.7% in inflation-adjusted terms from $1,448 in 2023.

Question 2

In 2024, what share of income did the typical U.S. renter household spend on rent?

Accepted Answer

31% of income. Housing experts generally consider spending over 30% of income on rent to be a financial burden.

Question 3

As of 2024, about how many members did the National Association of Realtors have?

Accepted Answer

over 1.5 million. That makes NAR the largest trade association in the entire United States.

Question 4

In 2023, what hourly wage did a full-time worker need to earn, nationally, to afford a modest two-bedroom rental without exceeding 30% of income?

Accepted Answer

$28.58/hour. About 60% of U.S. workers earned less than this 'Housing Wage' needed for a two-bedroom home.

The basics