RealtyTrac's micromarket data filters come into full-play in vp Daren Blomquist's exploration of the best--and the worst--rental markets for young adults.
Blomquist's observations base themselves off an assumption by the Department of Housing and Urban Development, that the average rent for a 3-bedroom unit in 2016 will be $1,399, an increase of 3.5% from 2015 averages. Average wage-earners in the RealtyTrac 504-county data set will need to pay 37% of their earnings for rent on a 3-bedroom unit.
Blomquist's best- and worst-rental markets for millennials come from a narrower set of 52 counties where millennials' share of the population grew the fastest since the Great Recession. He notes: