Three Roommates or Four Jobs Needed to Afford a Two-Bedroom Rental on Minimum Wage
Rent affordability is better in cities with higher minimum wages, even in expensive markets.
Fair Housing
LGBTQ+ Renters Face More Challenges, Including Higher Up-Front Costs
LGBTQ+ renters comprise about one in eight of all renters and one in five of those that moved recently, according to new analyses of the 2022 Consumer Housing Trends Report (CHTR). These LGBTQ+ renters face disproportionate hurdles to finding housing, like higher costs in areas that protect them from housing discrimination and a higher frequency and likelihood of paying upfront costs like application fees and security deposits.
June is Pride Month, with a goal of raising awareness and increasing efforts to achieve equal opportunities for LGBTQ+ Americans. This month and every month, Zillow Research is committed to shining a light on housing market challenges and opportunities that disproportionately affect LGBTQ+ home buyers, sellers and renters.
Renters of Color Pay Higher Security Deposits, More Application Fees
Renters of color typically submit more applications — and pay more in application fees — before they secure a place to live than white renters do. Renters of color also typically pay a higher security deposit when they move in
Black Mortgage Applicants Denied 84% More Often than White Borrowers
Black applicants are denied a mortgage at a rate 84% higher than white applicants, an increase of 10 percentage points since 2019.
Where the Rent Burden is Most Unequal Across Racial Communities
The typical black and Latinx renting households are considered housing cost burdened; typical white and Asian renter households are not.
How the Latinx-White Wealth Gap has Shrunk — and Why There’s Still So Much Farther to Go
The typical Latinx household currently has less than half (43.7%) of the wealth of a typical non-Hispanic white household, up from 28.4% in 2016.
Pandemic Impacts Felt More Strongly by Lower-Income, Renter and Households of Color
Black, Latinx, lower-income & renter households were more likely to report housing and economic challenges brought on by the pandemic.
Where You Live Matters: Access to Key Amenities is Worse in Communities of Color
Majority-white areas have more traditional finance outlets, more fitness and more health service establishments than communities of color.
Rapid Growth of Asian-Headed Households Hides Significant Inequality
The widely diverse Asian American community is broadly prosperous by many metrics, but individual hardships faced by some groups cannot be overlooked.
