Share of Affordable US Rental Listings Rises to Record High for May: Zillow

The share of rental listings priced below $1,000 a month also reached its highest level since May 2022.

A sign is posted in front of an apartment building with available rentals in San Francisco on June 9, 2023. Justin Sullivan/Getty Images

Rental affordability is on the rise, according to a June 18 Zillow report, which stated that 74 percent of America’s apartment rentals were affordable for a median-income household in May.

An analysis by the nation’s leading real estate and rental marketplace shows that last month had the highest share of affordable units ever recorded for May. To be considered affordable, a median-income household would spend no more than 30 percent of its income on rent.