Posted 2/4/2024, 5:08:00 PM
Study Finds Rent Burden Crisis Drives Hardships; Both Supply and Renter Education Needed
- Nearly two-thirds of renters surveyed were in unaffordable housing situations, spending over 30% of income on rent
- Unaffordability has negative social and economic consequences; solutions require unified government and industry approaches
- As renters' knowledge of affordability basics increased, their likelihood of being in an unaffordable situation decreased
- Renters in unaffordable housing cut back on necessities like groceries and physical activities
- Increasing rental housing supply is important but education on affordability and economics can also help address the rental crisis