I looked at the actual pdf report that this page indirectly linked. [0] The quoted 175% figure appears to be a case where statistics are selectively reported.

The report, in the paragraph preceding the 175% quote contains this, "Annual median rents were on average $324 higher for every $1,000 increase in household median incomes across the 50 cities in 2020."

[0] https://www.mba.org/Documents/Research/RIHA/22300_Research_R...