Higher rents squeezing half of Phoenix tenants but market still less expensive than other cities

imagesBy Mike Sunnucks | Phoenix Business Journal

Just under half of Phoenix apartment renters spend more than 30 percent of their income on rent.

That is according to a new analysis by Abodo. a Madison, Wisconsin-based real estate company.

Abodo found 49 percent of Phoenix renters spending more than 30 percent of their income on rent. The general rule of thumb is that spending more 30 percent of your income on housing brings financial stress.

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