MIAMI.— Living alone in the United States has become a luxury that is increasingly difficult to afford. A new analysis revealed that Americans living without roommates are paying a “single tax” which amounts, on average, to $10,470 per year, driven mainly by the sustained increase in rents across the country.
According to data from Zillow, the typical rent for an apartment in the country is currently located at $1,745 per monthwhich represents an increase of 30% in the last five years. This increase affects those who live alone most strongly, as they are not able to divide basic expenses such as rent, services or food.
“When you live alone, you cover the entire rent with a single incomeand that can add up quickly,” explained Emily Smith, rental trends expert at Zillow, in statements cited by Fox News. Smith noted that apartments, by offering shared spaces, allow for some accessibility, but the financial burden remains significant.
New York tops the list of most expensive rentals
Big cities once again occupy the top places among the most difficult for singles. New York leads the list with a typical rent of $3,900 per month, which translates to a “singles tax” of $23,400 annuallyis.
They follow:
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Saint Josephwith 3,248 dollars per month and an annual tax of 19,488 dollars.
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Bostonwith $3,014 and a tax of $18,084.
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San Franciscowith $2,857 and a tax of $17,142.
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Los Angeleswith $2,648 and a tax of $15,888.
In all of these cities, living alone has become a prohibitive option even for those with stable incomes.
The “discount for couples”
While singles face rising numbers, those who live as a couple get what Zillow calls a “discount for couples” as splitting rent and other expenses substantially reduces financial pressure.
“Split everyday costs like rent, utilities, and food can go a long way to relieving the pressure of today’s higher cost of living”Smith stated.
Nationally, the combined discount amounts to $20,940 a yeara figure that, according to Zillow, represents more than half of a 10% down payment for a typical home in the United States.
A gap that grows with the cost of housing
In high-rent cities, the difference is even greater. In New York, for example, a couple could save up to $46,800 per yearavoiding the $23,400 “single tax” that impacts those who live alone.
With rental prices still far from stabilizing, analysts and consumers alike recognize that the cost of living will only continue to rise. The report suggests that the “couples discount” could become a decisive factor for those looking to save towards buying a home.
Meanwhile, the “singles tax” is consolidated as another indicator of the economic gap facing millions of Americans in a real estate market that continues to be stressed.
