Since last recession, rising rents squeezing Americans, report finds
With higher-income households driving much of the growth in rental demand since 2010, the new housing supply has been concentrated at the upper end of the market, squeezing middle-income Americans, according to a report released today from the Harvard Joint Center for Housing Studies. Explore full interactive chart. Households with incomes of $75,000 and higher accounted for more than three quarters of the growth in renters, 3.2 million, from 2010 to 2018, the report says. The rising demand and constricted supply have reduced the stock of low- and moderate-cost rental units. Explore full interactive chart. The shift has significantly altered the profile of the typical renter household. Nationwide, a growing number of renters with incomes between $30,000 and $75,000 are now paying more than 30 percent of their income for housing. Explore full interactive map. “Despite the strong economy, the number and share of renters burdened by...