Figure 16. Effect of rent inflation on real income after rent, 2015–2022

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Note: Quintile income = ZIP code income

Source: ZORI rent estimates from Zillow.com, seasonally smoothed, by ZIP code (see https://www.zillow.com/research/data/). Income data from IRS SOI Tax Statistics, by ZIP code, using total reported adjusted gross income and total number of filers (see https://www.irs.gov/statistics/soi-tax-stats-individual-income-tax-statistics-zip-code-data-soi).