If you feel you're having a hard time paying the landlord the first of every month, there's a good reason.
Apartment List analyzed Census data from 1960 to 2014 and found inflation-adjusted rents climbed 64 percent in the U.S., but household incomes only crept up only 19 percent.
In other words, millennials are paying an arm and a leg more than their parents paid relative to income.
The good news is Phoenix fared well over the time period, with small rent increases. Plus, the Phoenix metro area added large amounts of housing inventory in the 1990s and 2000s, according to the study. Though incomes didn't climb faster than the other cities, the minimal rent jumps somewhat offset the stagnant incomes.
Apartment List found the time period between 2000 - 2010 was particularly arduous. Household incomes dropped by 9%, while rents rose by 18%.
According to recent data by Zillow, the average Phoenix rent for the metro area is $1,302.
