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Originally Posted by jmecklenborg
Not true. The "affordability" data can only ever include reported rents. They probably can now scrape Zillow Rental data as well as some other landlord software (especially free management software that sells its data) as well as large landlords who, for whatever reason, agree to share lease data.
Even with the advent of free management software, and possibly inferences made by Craigslist and other online ads, analysts have no access to most rental rates since most rentals are owned by small-time landlords and/or people who are in improvised living situations with friends, family members, and coworkers.
I, for example, have collected less than half of the rent that I have collected in my "career" as a landlord through management software. Most payments have been cash. Some were personal checks. Some were through Venmo. Recently, I have had decent luck with Zillow Rentals, meaning my rental data is now being scraped. But I also get emails from Zillow telling me the average rent for properties like mine in the area and can see that I'm charging way under what I could get if I booted the current tenants. But I'm sure people here will still find a way to act like they know more than me and that they're morally superior.
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I can only speak from the data I received, and my family experience. 151,000 households applied for Section 8 housing vouchers. Eligibility is based upon income, so rental costs are not relevant regarding eligibility, it's just demonstrating that there are a lot of people out there searching for lower cost housing than what the market is providing. And the market is expensive for these people.
An example of relevant income to qualify for a single person is 32k or less per year for eligibility. Many of these people are senior retirees, and many of them are disabled in some way. A quick Zillow search shows in all of the Miami area zero apartments are less than $1000/mo, and only 123 apartments less than $1600.
Some of my extended Miami family now have 3 generations living in the same home, and other family is paying well over 50% of their income on housing. Much of the housing is substandard, and barely accessible for the seniors with mobility issues.
I have a family member who has mobility issues, and was recently widowed. While she still collects Social Security and a small pension, she lost a good chuck of household income when her husband died, below 32k, and can no longer sustain living where she lives but has nowhere else to go that's cheaper. Her mobility issues make it difficult for local family to take her in, as homes aren't really accessible, and most already are full of other family members. These are all working people and retirees, just to be clear.
This is just 1 of the 151,000 stories out there, trying to just get selected for a lottery, let alone find an affordable place to live.