In a recent report, Redfin revealed that only 39% of renters can afford a median-priced apartment in the current housing market. The median apartment asking rent of $1,653 in May fell $47 short of its all-time high, indicating a challenging environment for renters.

Key Points:
– Redfin report highlights affordability issues for renters
– Median apartment rent in May slightly lower than record high
– Only 39% of renters can afford median-priced apartment
– Challenging market conditions for renters persist
– Experts underscore the need for affordable housing solutions

For more information, you can read the full article on the Weekly Real Estate News website.

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