Redfin Reports Typical Retail Worker Earns $37,000 Less Than Needed to Afford Typical Apartment
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
The earnings shortfall is smallest in Cleveland, where the typical retail worker earns 33% less than they would need to afford the typical apartment. New York has the largest shortfall, at 71%. SEATTLE--(BUSINESS WIRE)--The typical retail worker in America earns $34,436 per year—51.6% less than they would need to afford the typical apartment. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.A renter would need to earn $71,172 to afford the typical apartment, which costs $1,779 per month. That means the typical retail worker earns $36,736 less than they would need to afford the typical apartment, though affordability has improved slightly in recent years.Redfin considers a rental affordable if a renter spends no more than 30% of their income on rent. This is based on a Redfin analysis of 2024 wage estimates from the U.S. Bureau of Labor Statistics’ Occupational Employment and Wage Statistics program, and October 2025 multifamily rent data fro
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- Redfin Reports Investor Activity Is Muted, With Home Purchases Up 1% and Market Share Holding SteadyBusiness Wire
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