Rents are becoming unaffordable for many Americans, even those in the middle class. Because the cost of buying property, maintaining it, and covering property taxes has jumped, so have the costs of renting.
A new report from the Joint Center for Housing Studies of Harvard University calculates that 10.9 million renters spent more than 50% of their income on housing in 2018. That equates to one in four renters. Moreover, there were 6 million more cost-burdened renters in 2018 than in 2001. Households with incomes of at least $75,000 accounted for more than three-quarters of the growth in renters from 2010 to 2018. Continue reading “Economic Woes: 1-In-4 Renters Are Now Spending Over Half Their Income On Housing”


