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This is not entirely accurate. If the median rent drops, this means necessarily that the rent for at least some portion of the renters below the 50th percentile
by foota 10y ago
This is not entirely accurate. If the median rent drops, this means necessarily that the rent for at least some portion of the renters below the 50th percentile has dropped. So while it is possible that the very bottom hasn't changed much, the middle/top of bottom necessarily has.
- SomeStupidPoint 10y agoIt's not necessary for the bottom quartile (which is what I was talking about) to change at all for the median to move, as long as the median stays above the highest value in the bottom quartile. The lower-middle quartile could absorb all of the change. A quartile is 25%, or a quarter, if you didn't know. My concern was for bottom quartile rents, since the bottom 20% of society is largely concentrated on the low end of that quartile, and they're largely the ones who actually suffer from high housing costs (as opposed to merely having fewer luxuries).
- foota 10y agoSorry, I misread your comment. I'm curious what a rent vs percentile curve looks like for the area. Unfortunately, I wasn't able to find one.