Small city resident checking in here, 1br apartments are going for $1500/mo on average here, and we're considered an extremely affordable place to live. The average person I know carrying a mortgage has a payment below that for much more living space.

What I would say we're missing is condominiums in the city center. Lots of apartments, fewer places to own in the inventory of downtown housing.

Yes but those people got mortgages before the last year. With rates at 6-7%, the payments are going to be a lot higher or you get a lot less.