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Making It in San Diego: San Diego among most rent-burdened cities in U.S.

Posted: 4:30 PM, Apr 08, 2019
Updated: 2019-04-08 23:30:46Z
For rent red

SAN DIEGO (KGTV) -- San Diego is one of the most rent-burdened cities in the entire country, according to a new report by Freddie Mac .

The report claims that America’s Finest City is the second most rent-burdened city in the nation.

Miami took the top spot on the list, followed by San Diego, Los Angeles, New York and Orlando.

RELATED: California lawmakers look to control and reduce rising rent prices across state

The report shows than San Diegans would have to make $56,400 to be able to afford the median rent.

The report also found that those who make minimum wage would have to work nearly 100 hours per week to be able to afford the median rent.

To come up with the report, Freddie Mac looked at how other organizations measure affordability to assess the rent-burden issue. The report looks at the four most widely cited affordability studies across the 50 largest metro areas.

RELATED: San Diego among top cities where adults still live with parents, study says