Salt Lake City renters spending more than half of their paycheck on housing
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Almost 22% of renters in the Salt Lake City metro area spent more than half their household income on housing, according to recent Census data.
Why it matters: It's generally advised to set aside 30% of your gross income on rent, but high housing costs are forcing renters to spend even more.
By the numbers: On Zillow, the median rent for a 1-bedroom unit in Salt Lake City is nearly $1,300.
The big picture: An excessive rent burden can make it harder to afford other basic needs, like groceries and transportation — or to save for a down payment on a home.
- Just over a quarter (25.6%) of U.S. renters are spending more than half their income on housing, per Census data.
Zoom in: Ogden (17.9%) had the lowest share of renters spending more than half their income on housing among metro areas with at least 200,000 households.