In the battle of the nation’s most cutthroat rental housing markets, it’s not just the usual suspects like New York City and San Francisco that are feeling the squeeze.
According to a scathing, and not to mention surprising, report by Apartment Advisor , upstate New York’s once-affordable Syracuse has become ground zero for the worst housing competition for those looking to a rent a place to live.
Believe it: Surpassing even the lofty levels of Manhattan madness, Syracuse took the crown as the most cutthroat rental market in the entire country. The report surveyed 75 of the nation’s largest metro areas.
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In Syracuse, for instance, more than half of renters are shelling out a whopping 30% or more of their income just to keep a roof over their heads. That alone means that city residents are rent-burdened.
And with the median rent for a two-bedroom apartment soaring by nearly 16% in just one year, tenants are feeling the pinch.