Half of US Renters Can No Longer , Afford Housing, Study Finds.
A growing number of households are
struggling to pay rent, according to a new report by the
Joint Center for Housing Studies of Harvard University.
The study found that a record half
of renters in the United States paid over
30% of their income toward rent and utilities in 2022. .
Almost half of those people were
found to be extremely cost-burdened,
paying over 50% of their income. .
We actually saw increases across
every single income category that we
look at, which sort of surprised us, Whitney Airgood-Obrycki, senior research associate
with the center and the report's lead author, via NPR.
The study found that the largest leap in
unaffordability was for households with an
annual income between $30,000 and $74,000. .
The study found that the largest leap in
unaffordability was for households with an
annual income between $30,000 and $74,000. .
Among those with full-time jobs,
a third of all renters were living
under cost-burdened conditions.
For those making less than $30,000
a year, a staggering all-time high
of 83% were cost-burdened.
At the same time, homeless rates in
the U.S. have also hit a record high. .
We simply don't have enough
homes that people can afford, Jeff Olivet, executive director of
the U.S. Interagency Council
on Homelessness, via NPR.
And when you combine rapidly
rising rent — that it just costs more
per month for people to get into
a place and keep a place — you get
this vicious game of musical chairs, Jeff Olivet, executive director of
the U.S. Interagency Council
on Homelessness, via NPR