Sacrifices People Make to Afford the Rent
The U.S. median rent now consumes 27.8% of the country’s median income – nearing the 30% tipping point above which rent is considered unaffordable and the 32% tipping point above which communities can expect a more rapid increase in homelessness. What that looks like at the individual renter level is sacrifice.
Starting Salaries for Teachers Don’t Pay the Rent
For many teachers, back to school means a return to their regular jobs from summer gigs that supplement their incomes and help them -- literally -- pay the rent. Nationally, the median market-rate rent takes a staggering 46.8% of a starting teacher’s salary.
10 Most Affordable Markets for Renters
See 10 major metros where people spend less than 25 percent of their area's median income on the rent.
2019 Predictions: Worse Affordability, Commutes, Natural Disaster Losses
Mortgage affordability take a hit. Commutes lengthen. Natural disasters claim a record number of homes. And a bit of good news: Amazon HQ2 'losers' will get a boost.
A Tweak to Vouchers Allows Low-Income Renters Access to High-Income Areas
The new rule increases the overall metro-wide share of rental listings affordable to voucher holders in all 23 metros immediately affected by the new rule.
10 Most Affordable Markets for Renters
Markets with low rents might not be as affordable as they seem when you consider the earning power of people who live there. Pittsburgh, St. Louis and Oklahoma City top the list of metros that pass a more realistic test.
Rent Growth Catches Up to Income Gains After Slowdown (November 2017 Market Report)
For the almost two years leading up to and including May 2016, rents grew faster than incomes, at times more than three times as fast. Then incomes outpaced rents for more than a year. Now rent growth is catching back up.
As Rents Rise, More Renters Turn to Doubling Up
Thirty percent of working-age adults—aged 23 to 65—live in doubled-up households, up from a low of 21 percent in 2005 and 23 percent in 1990. Adults living with roommates or family members earn 67 cents for every dollar made by adults who live on their own or with a partner.
For people who don't like their market too hot or too cold, these “sweet spots” have strong job and income growth but relatively affordable rents.
