[dougmany]

When we were looking for an apartment between selling and buying houses, I was surprised by how there is a decided floor to rent prices. Like nothing exists below a certain point. Somehow I felt we could just get a super cheap place because I thought housing price would scale with income. I was surprised when I found out it didn't. So your cost of living example holds up in my experience.

[imtringued]

That's the result of housing shortages. Landlords can pick their tenants and since they don't run a charity they usually rent out to the highest bidder. The obvious solution would be to increase supply.