The top 5 cities where Gen Z renters allocate the largest portion of their income towards housing are all located in the same state.

Finding a job that pays the bills is a challenge for Gen Z, as it can be difficult to secure employment.

In a world where rent prices are increasing, this can negatively impact your financial situation.

Over 60% of Gen Z renters (18- to 25-year-olds) are "rent-burdened," according to a recent Zillow analysis of U.S. Census Bureau American Community Survey data. This implies that less than 30% of their monthly income goes towards housing expenses.

Kenny Lee, a Zillow Economist, informed CNBC Make It that housing expenses in the analysis were not limited to rent. Researchers took into account both initial costs, such as application fees, broker fees, and security deposits, and ongoing expenses, including utilities, pet fees, and parking fees.

In many cities, it can be difficult for younger renters to adhere to the recommendation of financial experts to limit housing expenses to 30% of income.

The top 5 cities with the highest percentage of Gen Z renters facing rent burdens are:

1. San Diego

• Percentage of rent-burdened Gen-Z renters: 73%
• Median percentage of income paid to rent: 47%

2. Los Angeles

• Percentage of rent-burdened Gen-Z renters: 72%
• Median percentage of income paid to rent: 42%

3. Sacramento, California

• Percentage of rent-burdened Gen-Z renters: 71%
• Median percentage of income paid to rent: 43%

4. Orlando, Florida

• Percentage of rent-burdened Gen-Z renters: 69%
• Median percentage of income paid to rent: 43%

4. Miami

• Percentage of rent-burdened Gen-Z renters: 68%
• Median percentage of income paid to rent: 43%

If you're significantly rent-burdened at the start of your career, it can negatively impact your budget strategy and hinder your long-term financial goals by limiting the amount of money you can save for retirement or preventing you from paying off student loans or building an emergency fund.

If you're looking for entry-level jobs in screenwriting, are there any openings in Los Angeles? If your dream job in aviation technology is in Miami, are there any openings there?

Many of the best-paying jobs for Gen Z are in cities with high rent, according to Lee.

According to Lee, the current circumstances make it challenging for young renters to decide where to reside.

If you're moving to an expensive city, young professionals can take these three steps to keep rent down: 1. Look for shared living spaces or roommates to split the cost of rent. 2. Consider living in a less desirable neighborhood or further from the city center where rents are typically lower. 3. Look for flexible work arrangements or part-time jobs to supplement your income and afford the higher cost of living.

1. Negotiate your rent

Leasing agents and landlords may suggest that rent prices are fixed, but they are not as set in stone as they claim.

You can persuade a landlord to give you a better deal by researching the fair market rent of an apartment, extending your lease or paying your rent in cash.

John Barlett, the executive director of the Chicago-based Metropolitan Tenants Organization, advised starting negotiations from a friendly place, as he recently stated on CNBC Make It.

When discussing rent pricing with a potential landlord, Bartlett advises renters to focus on commonalities.

2. Find a roommate

According to Lee, many renters have been depending on sharing housing costs with roommates.

Besides the conventional ways of locating roommates through personal networks or online advertisements, there are other methods to share the expense of rent, including co-ops and communal living arrangements.

Living in group housing can enhance your social life and enable you to form new friendships while still preserving your personal space, particularly if you opt to reside in a bustling metropolis. According to Ishan Abeysekera, a resident of a 33-person community in Brooklyn, who was recently interviewed by CNBC Make It, "You'll never feel lonely."

3. Look in the winter

To minimize rent costs, try looking during off-peak seasons, experts say.

According to a 2018 interview with CNBC Make It, Gary Saharov, a New York City realtor, stated that months like December and January are less hectic and offer cheaper rentals, typically $50 to $150 less per month. This translates to savings of approximately $62 to $188 when factoring inflation.

During the warmer months, high season for apartment hunters is typically, and many people prefer to move during this time, said Saharov. However, avoiding the summer crowds can result in significant savings.

If you can wait for demand to decrease in the housing market, you may be able to find more affordable rental opportunities, advises Lee. During the winter, landlords may lower rental prices to attract tenants and fill their apartments.

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