Rent is too damn high: We are in the worst rental affordability crisis in U.S. history

The average rent for a one-bedroom in San Francisco is now $3,500

Published December 7, 2015 8:24PM (EST)

For $3,500 you can get a one-bedroom in San Francisco ... too much? Then try New York City with a median rent for a one-bedroom priced at $3,391. Rents are increasing at alarming rates throughout the U.S. from Honolulu to Denver and young adults are finding it harder to survive on their own; a recent study concluded that more young adults are living with their parents in 2015 than during the recession. Thankfully there is hope - 'micro apartments' are gaining popularity and for a mere $950 - $1,492 per month you can have your very own 260 to 360-square-foot studio space in the heart of Manhattan. However, even that price tag comes with a catch, it was allocated to 14 of the 55 units as income based apartments. The deadline has passed with sixty thousand applicants for the 14 units! The remaining apartments have buoyed to market rate: $2,650 - $3,150 / month.

By Peter Cooper

Peter Cooper is a video producer for Salon. He's a creator infused with many passions and can be found on Instagram and Twitter.

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