Rising Rents and Falling Affordability Make Housing a Growing Crisis Across the U.S.

Moody's housing affordability index shows a decline in affordability for all U.S. states over the past 4 years, making home ownership challenging.

Average rent has increased to $2,047 per month in 2023, up 3.2% from 2022, adding to housing costs.

Florida, Idaho and Nevada have seen the most significant drops in affordability from 2019-2023 due to increased housing demand.

Extreme weather, construction inflation and litigation have driven up insurance premiums, tripling average premiums in Florida since 2018.

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