Oregonians are spending more of their income on rent than most other renters in the U.S., a study conducted by moving experts with Forbes Home shows.
PORTLAND, Ore. (KOIN) — Oregonians are spending more of their income on rent than most other renters in the U.S., a study conducted by moving experts with Forbes Home shows.
Using data from the U.S. Bureau of Economic Analysis and the U.S. Department of Housing and Urban Development, Forbes Home determined that Oregon ranked 9th in the U.S. for states where residents spend the largest percentage of their income on rent.
According to the study, Oregonians spend an average of $1,284 on rent. With an average monthly income of $5,133, Oregon renters are spending more than 25% of their income on rent each month.
The state with the highest disparity of rent to income was Hawaii, where residents spend a crippling 42% of their monthly income on rent. Oregon’s Southwestern neighbors in California spend the second highest percentage, with 28.47% of their income going toward rent. New Jersey rounds out the top three with 27.50% of income spent on rent.
Forbes Home’s complete top 10 list:
