{"id":65140,"date":"2020-08-27T10:45:00","date_gmt":"2020-08-27T10:45:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/2020\/08\/27\/residents-of-just-12-u-s-metros-can-afford-rent-on-unemployment-insurance\/"},"modified":"2020-08-27T10:45:00","modified_gmt":"2020-08-27T10:45:00","slug":"residents-of-just-12-u-s-metros-can-afford-rent-on-unemployment-insurance","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2020\/08\/27\/residents-of-just-12-u-s-metros-can-afford-rent-on-unemployment-insurance\/","title":{"rendered":"Residents of Just 12 U.S. Metros Can Afford Rent on Unemployment Insurance"},"content":{"rendered":"

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Unemployment insurance (UI) isn’t enough to pay rent in most major U.S. metros, according to a new report from Real Estate Witch, an online real estate portal.<\/p>\n

The study found that of the 109 largest metros in the U.S., residents of just 12 can afford rent for a two-bedroom apartment on top of basic expenses:<\/p>\n

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  1. Springfield, MA<\/span><\/li>\n
  2. Worcester, MA<\/span><\/li>\n
  3. Spokane, WA<\/span><\/li>\n
  4. Toledo, OH<\/span><\/li>\n
  5. Dayton, OH<\/span><\/li>\n
  6. Cleveland, OH<\/span><\/li>\n
  7. Akron, OH<\/span><\/li>\n
  8. Des Moines, IA<\/span><\/li>\n
  9. Cincinnati, OH<\/span><\/li>\n
  10. Columbus, OH<\/span><\/li>\n
  11. Scranton, PA<\/span><\/li>\n
  12. Pittsburgh, PA<\/span><\/li>\n<\/ol>\n

    Although those metros are affordable on UI, people in just two (Springfield<\/span> and Worcester, MA<\/span>) have more than $500<\/span> left over per month for savings, emergencies, healthcare, and other necessities.<\/p>\n

    South Least Affordable on Unemployment Insurance; Northeast Most Affordable<\/strong><\/p>\n

    The South may have a comparatively lower cost of living, but it’s the most unaffordable region on UI.<\/p>\n

    Average UI payments in the Northeast are $1,738.32<\/span> per month, followed by the Midwest ($1,311.18)<\/span>, West ($1,249.65)<\/span>, and South ($870.81)<\/span>.<\/p>\n

    These rankings directly correlate with people’s ability to pay rent: Those in 65% of Northeastern metros can afford a studio apartment on UI, compared to 42% of Midwestern, 25% of Western, and just 15% of Southern metros.<\/p>\n

    California<\/span>, Florida Metros Among Most Unaffordable on Unemployment Insurance<\/strong><\/p>\n

    UI doesn’t cover food, transportation, and rent for a studio apartment in 73 of the 109 metros analyzed.<\/p>\n

    The top 10 metros where residents can’t afford a studio apartment on UI are:<\/p>\n

      \n
    1. San Francisco, CA<\/span><\/li>\n
    2. San Jose, CA<\/span><\/li>\n
    3. Washington, DC<\/span><\/li>\n
    4. Oakland, CA<\/span><\/li>\n
    5. New York, NY<\/span><\/li>\n
    6. Miami, FL<\/span><\/li>\n
    7. Honolulu, HI<\/span><\/li>\n
    8. San Diego, CA<\/span><\/li>\n
    9. Fort Lauderdale, FL<\/span><\/li>\n
    10. West Palm Beach, FL<\/span><\/li>\n<\/ol>\n

      Residents need an average of $1,600<\/span> in additional <\/em>unemployment benefits to afford rent and other basic necessities.<\/p>\n

      About Real Estate Witch
      <\/strong>Real Estate Witch is a web property of Clever Real Estate, the online platform that connects home buyers and sellers with top-rated agents at a discount rate.<\/p>\n

      \n

      See Campaign: <\/strong>https:\/\/listwithclever.com<\/a>
      Contact Information:<\/b>
      https:\/\/listwithclever.com<\/p>\n

      Tags:<\/b>
      <\/a>, Wire<\/a>, Wire Real Estate<\/a>, United States<\/a>, English<\/a><\/p>\n

      \"image\"<\/div>\n

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      Contact Information:<\/h3>\n

      List With Clever Home<\/a><\/p><\/blockquote>\n