Austin millennials and Gen-Zers are flocking to social media to complain about soaring rent – Fortune

Fletcher previously posted a video that showed an email about her rent rising from $2,200 to $4,678, a 113% increase that sparked widespread commiseration among her followers.

“The audacity to write ‘congratulations’ in the email,” one commenter, Myca San Miguel, wrote, referring to the landlord’s message to Fletcher.

“Dude I live in the Austin area and it’s impossible to live here anymore, rent is $2-3k and they want 3x that in income so I need to bring 6k+/month,” another commenter, Alyssa Papke, wrote in response to Fletcher’s post.

Fletcher ultimately moved from her apartment to a new living space.

The cost breakdown for being a renter in Austin

In the first quarter of 2022, the average annual salary in Austin was $74,000, an increase of 0.9% from a year earlier, according to Payscale, a salary data website. A Texas-based individual with $74,000 income can expect to pay an estimated $772 monthly in federal income tax, $382 in Social Security, and about $89 in Medicare—or a…

Read Full Story: https://fortune.com/2022/06/09/austin-rent-soaring-millennials-gen-z/

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