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Miami Rents are the Most Expensive in the USA for Millennials

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A new study put together by Zillow for Bloomberg (h/t: New Times) shows that Miami is the most expensive of the fifty largest cities in the US for millennials to rent in, by a long shot. Using 30 of your income as a rule of thumb for the max on should spend on monthly rent, millennials can only afford eight percent of the rental housing in Miami. Los Angeles is the second worst, at about 12 or 13 percent, and in San Francisco, which along with New York is known for its high rents, twenty percent of the housing stock is affordable for millennials. New York is right behind it and almost exactly the same, a percentage that seems luxuriously affordable compared to Miami's.
· 23 cities where millennials can't afford to rent [Bloomberg]
· Miami is the most expensive city for millennials to rent [New Times]