SANTA CLARA, Calif., Sept. 22, 2022 /PRNewswire/ — August data shows renters are feeling the strain of higher costs, as Americans spent more than one-quarter (26.4%) of their monthly budgets on rents in August, on average, according to the Realtor.com® Monthly Rental Report released today. Among the 50 largest U.S. metros, coastal areas topped August’s list of least affordable rental markets, with rents accounting for the highest shares of household incomes in Miami (46.5%), Los Angeles (40.7%) and San Diego (37.1%).

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