Affordability is the measure of rent to income for a specified geography. Affordability is one piece in discovering the outlook for rent growth for new or existing opportunities. CENSAI provides affordability scores, on a scale of 0 to 100 (with 100 being most affordable), at the zip, county, and CBSA level.
CENSAI employs a two-step method to establish the score:
% of individual records, in a specified geography, where weighted rent is less than 30% of the monthly income: median income/12
The % of monthly rent to income
Sources:
1. i360 proprietary, individual-level, database
2. i360 modeled income
3. i360 modeled rent
*i360 modeled rent is based off rent data available from RentCast and ACS Median rent. This model is updated on a regular cadence.
*These scores are updated quarterly.