More American Households Doubling Up as Rents Rise

A new report from Zillow shows that rents continue to outpace incomes, forcing more Americans to live together to share expenses. The analysis shows a jump in the percentage of adults living in doubled-up households without being married or partners to 32 percent as of 2012 from 25.4 percent in 2000 and 30.8 percent in 2010. The metro areas with the highest percentages of adults with roommates are Los Angeles (47.9 percent), Miami (44.5 percent), New York (42.5 percent), and San Diego (39.7 percent). The rise in doubled-up households can be attributed to the fact that Americans earning the national median income of $53,216 expect rent to account for an all-time high of nearly 30 percent of their monthly incomes. Many would rather live with roommates than downsize or move to a cheaper area. | Read More