A viral video posted by a Gen Z TikToker is resonating with young people who are struggling to get by as rent prices soar. Entry-level salaries earned by Gen Z don’t stand up to current housing shortages, competitive job markets, and inflation. Many Gen Z’ers working multiple jobs or saving money while living with family are still unable to keep up with rising costs of living.
@amer.knight‘s viral post on TikTok captures the emotional tenor of the reality his generation faces.
Amer Knight, a Gen Z’er based in Alberta, Canada, recently recorded his emotional reaction upon receiving a rent increase notice. The video shows Knight reading his mail and crying as soft music plays, along with the superimposed caption: ‘They just raised my rent to almost 90% of my monthly income… I can’t take it anymore.’ The simple moment resonated with TikToker’s from Gen Z and beyond because it points to rising levels of financial insecurity that are hitting Gen Z the hardest. The post spurred conversation around many aspects of the complex economic reality facing young people today.
The video has accumulated 650.2K likes and 24.5K comments on TikTok since it was shared on March 3. Commenters echo Knight’s frustration in the face of a perceived systemic issue. “What does the world even want from us,” asks @behindblueeyessss.
Emotional responses from Gen Zer’s who can relate:
“Our generation is so unlucky, we can’t buy, we can’t rent. what does the world expect from us even? and then why noone is marrying or having a child,” commented @behindblueeyessss.
@account_1738 picked up on a tone of despair and hopelessness. “Anyone criticizing his reaction needs to understand how depressing and dehumanizing it is to have to live off pennies. Never able to go out, barely money for food. No money for any sort of life at all.”
There’s a sense that Gen Z just can’t get ahead. “We’re just trying so hard,” @thereneejanelle says, “How are we supposed to survive?”
Knight told the Daily Dot about the circumstances surrounding his viral post. “The rent increased by 30% over what I was previously paying, which now makes up 90% of my income.” He says he was given just two month’s notice.
“This situation reflects a broader issue for young adults, where wages aren’t keeping up with rising costs,” he said.
@amer.knight ♬ i miss your warm hands – i don’t like mirrors
The rising cost of living
Between 1999 and 2022, rent has grown 135 percent, but incomes have only increased by 77 percent in that time. Reactions to Knight’s post from earlier generations reflect this and affirm how the struggle uniquely affects Gen Z.
People who’ve been renting for longer than Gen Z validated the younger generation’s plight:
@zoopie10 commented, “Y’all I’m 50, and I couldn’t afford to pay some of these rents out here. It is BS and not fair that young people can’t start their lives like all of us were able to years ago.”
Others shared specifics of how rents have indeed skyrocketed.
“This is so real. My old apartment was renting for around $750 (2bed) in 2018-2019. That same unit is now $1600 with no changes. It’s so outdated and the AC constantly broke,” said @duhhholly.
“I went from being able to rent a two-bedroom apartment when I was making $12 an hour to moving back in with my parents when I’m making $20 an hour,” said @k.a.millar.
The TikToker put the overall sentiment of the conversation into simple terms: “It’s not you, it’s the system that’s failing you.”
Gen Z is more likely to struggle with rising housing costs
The average Gen Zer (those born between 1996 and 2012) earns $45,000 a year. These entry-level incomes might not stand up to high housing prices and 32% cumulative inflation over the past decade and could account for generation-wide financial insecurity.
According to the most recent National Association of Realtors Home Buyers and Sellers Generational Trends Report (NAR), Gen Z buyers and sellers aged 18 to 24 accounted for just 3% of buyers and 2% of sellers last year. An overwhelming majority of Gen Zer’s are renting or living with family, and many are juggling multiple jobs just to get by.
These statistics are important because the issue can be misunderstood. A common narrative places blame on Gen Z instead of acknowledging underlying systemic problems.
TikToker @jadealexaaa spreads awareness of a common rift between generations in a parody of “talking to anyone over the age of 60 about rent pricing today.”
Taking on the Boomer perspective, she tells a young person, “I feel like if you worked more, or if you really worked—hard work, you know, work-work—you’d be able to afford the rent.”
@genzforchange Rental and housing crisis.
♬ original sound – Gen-Z for Change
Others take an analytical approach, breaking down the cost of living versus income. In this video, @fmsmith319 itemizes living expenses to share just how far one might stretch an hourly salary.
If you’re making $20 and hour in 2024, according to @fmsmith319‘s calculations you’re living “paycheck to paycheck.”
@fmsmith319 Gen Z earning $20 an hour living paycheck to paycheck
♬ original sound – Freddie Smith
How much is Gen Z paying for rent?
On average, Gen Z is spending more than 30% of their monthly income on rent. Rent burdens fluctuate based on location, with highest prices tracking with the metro areas where the most desirable jobs are located.
Facing such financial challenges in the earliest stages of their careers puts Gen Z at a disadvantage, as a higher percentage of income must be put toward necessities. Some Gen Zer’s are forced to sacrifice career goals, or put off starting families and delay milestones like homeownership.
Moving back in with their parents
Nearly one-third of Gen Zer’s unable to make rent while affording necessities and student loan debt, have opted to move back home in order to save money.
But hey, because of this, Gen Z has managed to save more money than any other generation.
Facing a tough situation with apathy or hope
According to a Realtor.com survey, nearly half of the 68 million Gen Zers in America aim to buy a home by 2029.
But Gen Z is entering the housing market at a difficult time. Interest rates are high and housing inventory is low causing prices to skyrocket. These facts are hard to face for some, and have inspired pessimism and apathy. 13% of Gen Zers who wish to become homeowners believe they will never be able to afford it.
Some determined young people are getting creative. Gen Zer’s are moving to more affordable areas in the midwest in higher numbers and are more likely to purchase older, lower-priced homes. Around 45% of housing applications submitted by Gen Z included co-applicants, revealing a trend of co-ownership between friends and partners, or via parental support.
GenZer’s who rent might try negotiating rents, reimagining how to co-habitate, or apartment-hunting in the off-season. Those living with parents and family members can keep stacking up savings. There is hope that rents in the most expensive cities could come down as new construction increases the housing supply.
And others are calling for action. @olivialearna on TikTok responded to Knight’s post, inciting the people to “Organize and unite,” around the issue.
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