Redfin reports: The typical college graduate in the Bay Area can afford rent if he has a roommate. A year ago, that wasn't possible. Page 1

(NASDAQ:RDFN) — The typical Bay Area college graduate who wanted to live with a roommate in a one-bedroom apartment last year was rent-burdened — that is, spending over 30% of their income on rent — but that's no longer the case, according to a new report from Redfin (redfin.com), the technology-based real estate brokerage.

In San Jose, the typical college graduate would have to spend 27.8% of their income on rent for an average-priced two-bedroom apartment today, assuming they split the rent with a roommate. That's down from 30.9% in 2023. Among the 33 U.S. metropolitan areas analyzed by Redfin, there are only two other places that have gone from unaffordable to affordable for college graduates looking to live with a roommate: San Francisco (26.9% vs. 31.4%) and Sacramento, CA (27.8% vs. 30.6%).