A new report from the National Low Income Housing Coalition (NLIHC) says that the number of Americans spending more than 50% of their income on housing is at an all-time high.
The study says that the troubled housing market, combined with demographic shifts, is increasing the market for rental housing and limiting availability:
"With little new supply of multifamily units in the pipeline, rents could rise sharply as demand increases. Regardless, affordability is likely to deteriorate further over the next few years as persistently high unemployment limits renter income gains."
Builder Magazine gives a breakdown of how some states are faring in this climate.
FULL STORY: As Renters Grow in Ranks, Options and Affordability Shrink
Rents Likely To Stay High as Home Sales Market Cools
The Fed’s recent decision to raise interest rates is causing a slowdown in the housing market, but rents are poised to remain high as demand for rental housing continues to outpace supply.
U.S. Rents Spiking As More Renters Enter the Market
All of the nation's largest metro areas are experiencing sharp growth in costs and demand for rental housing, posing even more challenges for low-income renters.
Rents Rose Between December and January
After dropping to a three-year low, U.S. rent costs grew in many major cities.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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