Rocket Companies Inc., through a new report from Redfin, highlights that the typical retail worker in the U.S. earns $34,436 per year-over $36,000 less than the $71,172 annual income needed to afford a typical apartment priced at $1,779 per month. The study, which analyzed the 50 most populous metro areas, found that in every metro, retail workers earn less than what's needed for rental affordability. The affordability gap is most pronounced in cities like New York, Boston, San Jose, Miami, and San Diego, where the shortfall ranges from 64.6% to 71%. The report also notes a broader strain on renters, with nearly one in four regularly struggling to afford housing costs, and many making significant lifestyle sacrifices to pay rent. Despite a slight improvement in rental affordability in recent years, even higher-earning retail workers still fall short of the income required to rent a typical apartment. The retail sector is further challenged by a sharp increase in layoffs and a significant drop in seasonal hiring.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rocket Companies Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251126720732) on November 26, 2025, and is solely responsible for the information contained therein.
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