According to the Census Bureau, the median income for U.S. wage earners in 2016 was $31,099. After taxes, and factoring in the all-but-gospel recommendation that no more than 30 percent of one’s income be allocated for rent, that means the average American has a little over $600 per month to devote to housing.

The same year those figures were calculated, the median rent for a one-bedroom apartment in the U.S. was $1,234. A typical mortgage payment was just over… continue reading here.