Projecting Trends in Severely Cost-Burdened Renters
An analysis by Enterprise Community Partners and the Harvard Joint Center for Housing Studies, finds that the number of households spending 50 percent or more of their income on rent is expected to rise at least 11 percent from 11.8 million to 13.1 million by 2025. At a time when rents are rising, incomes are stagnating and homeownership rates are declining, the number of renters facing affordability challenges has increased significantly.
Overall, this white paper projects a fairly bleak picture of severe renter burdens across the US for the coming decade. Given these findings, it is critical for policymakers at all levels of government to prioritize the preservation and development of affordable rental housing.