{"id":1510763,"date":"2022-06-10T16:21:09","date_gmt":"2022-06-10T20:21:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1510763"},"modified":"2022-06-10T16:21:17","modified_gmt":"2022-06-10T20:21:17","slug":"california-cities-see-top-rental-costs","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-cities-see-top-rental-costs\/","title":{"rendered":"California Cities See Top Rental Costs"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcalifornia-cities-see-top-rental-costs%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1510763&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"p1\">A recent analysis of how much of Americans\u2019 income <a href=\"https:\/\/ktla.com\/news\/california\/heres-how-many-hours-you-need-to-work-to-afford-rent-in-these-california-cities\/\">they are spending on rent<\/a> put several California cities at the top of the list.<\/p>\n<p class=\"p1\">SmartAsset looked at the country\u2019s 25 biggest cities to figure out the number of hours a person would have to work in order to pay for housing. The group <a href=\"https:\/\/smartasset.com\/data-studies\/hours-of-work-needed-to-pay-rent-2022\">used<\/a> \u201caverage annual take-home pay, average hours worked per year and median monthly rent\u201d to measure the data.<\/p>\n<p class=\"p1\">Overall, it found that an average of 56 hours of work were needed in order to pay rent in the 25 largest cities in the United States. Detroit, Michigan, was the only location where one week of full-time work covered a month of an employee\u2019s rent.<\/p>\n<p class=\"p1\">The California cities of San Jose, Los Angeles, and San Diego ranked in the top three of how many work hours were needed to cover rent, with San Francisco, California, coming in at fifth place under Boston, Massachusetts.<\/p>\n<p class=\"p1\">In San Jose, 77.4 hours of work were necessary to cover the cost of rent where the monthly average cost of rent is $2,232. In Los Angeles, 72.3 hours were needed to cover the average rent of $1,523, whereas San Diego\u2019s rent was higher than Los Angeles \u2014 at $1,770 per month \u2014 but it took slightly fewer hours to cover at 72.2 hours due to the higher estimated hourly earnings. San Francisco also has a fairly high estimated hourly wage at $31.74, so it would take an employee 63.3 hours to cover the average monthly rent of $2,010.<\/p>\n<p class=\"p1\">Rental <a href=\"https:\/\/ktla.com\/news\/california\/san-diego-now-5th-most-expensive-rental-city-in-us-report\/\">prices in the Golden State<\/a> have increasingly been an issue. A Zumper <a href=\"https:\/\/www.zumper.com\/blog\/rental-price-data\/\">report<\/a> noted that its National Rent Index surged to an all-time high in May, with the growth of rent in 2022 going faster than in 2021. With the recent spike in interest rates, however, the housing market is starting to cool off, which could impact rent and push down costs.<\/p>\n<p class=\"p1\">Not all areas of California were seeing the spike in the May report. The San Francisco Bay region has historically seen some of the priciest rental costs in the nation for most of the twenty-first century, however, the rental market is one of the only places that hasn\u2019t gone back to its pre-pandemic rates \u2014 even two years after the COVID-19 pandemic started.<\/p>\n<p class=\"p1\">Potential reasons could be the increase in crime and homelessness in the San Francisco area in the last several years. The crime wave was a driving factor in pushing San Francisco DA Chesa Boudin out of office <a href=\"https:\/\/www.dailywire.com\/news\/san-fran-votes-overwhelmingly-to-oust-woke-soros-prosecutor-from-office-in-major-rejection-of-far-left\">in a recall election earlier this week<\/a>.<\/p>\n<p class=\"p1\">\u201cVoters strongly endorsed ousting the reform-minded D.A. as partial returns showed about 60% of voters supporting the recall,\u201d The Wall Street Journal\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/san-francisco-district-attorney-chesa-boudin-faces-recall-election-11654603200\">reported<\/a>. Ever since Boudin came into office in January 2020 \u201cburglaries have risen 45%\u201d and \u201chomicides have increased 37%.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent analysis of how much of Americans\u2019 income they are spending on rent put several California cities at the top of the list. SmartAsset looked at the country\u2019s 25 biggest cities to figure out the number of hours a person would have to work in order to pay for housing. The group used \u201caverage &#8230;<\/p>\n","protected":false},"author":95,"featured_media":1510821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1510763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1510763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1510763"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1510763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1510821"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1510763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1510763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1510763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}