Rent and Utility Hikes Take Biggest Bite of Tenants’ Income in …

Sep 12, 2024 · Rent and Utility Hikes Take Biggest Bite of Tenants’ Income in these States ... 21 states – including New Jersey – where the majority of tenant households spent 30% or more …

30%
OFF

Rent And Utility Hikes Take Biggest Bite Of Tenants’ Income In …

2 weeks from now

Sep 12, 2024 · Rent and Utility Hikes Take Biggest Bite of Tenants’ Income in these States ... 21 states – including New Jersey – where the majority of tenant households spent 30% or more …

njbia.org

30%
OFF

Rent Is Eating Up A Greater Share Of Tenants’ Income In Almost …

2 weeks from now

Sep 12, 2024 · There were 21 states where a majority of tenant households spent 30% or more of their incomes on rent and utilities last year, compared with just seven states in 2019. ... Three …

stateline.org

30%
OFF

Rent Is Eating Up A Greater Share Of Tenants’ Income In Almost …

2 weeks from now

Sep 21, 2024 · There were 21 states where a majority of tenant households spent 30% or more of their incomes on rent and utilities last year, compared with just seven states in 2019. …

yahoo.com

30%
OFF

Housing Is Unaffordable For A Record Half Of All U.S. Renters : NPR

2 weeks from now

Jan 25, 2024 · A new Harvard analysis finds people across income levels got squeezed by rent hikes during the pandemic. ... a record half of U.S. renters paid more than 30% of their income …

npr.org

30%
OFF

Rent Is Eating Up A Greater Share Of Tenants’ Income In ... - Yahoo

2 weeks from now

Sep 16, 2024 · In Kentucky, housing consumed 30% of income or more for 47.5% of renter households, up from 43.3% in 2019. Three presidential swing states had among the biggest …

yahoo.com

52%
OFF

Rising Rents Taking Up Growing Share Of Americans’ Income

2 weeks from now

Nov 4, 2021 · The trend is more glaring in some metropolitan areas. Zillow found that Black tenants in San Diego spent 52% of their monthly income to cover the median rent of $1,934 in …

apnews.com

46%
OFF

Low-income Renters Face Increasing Burden With Rising Rents

2 weeks from now

Jul 20, 2022 · Low-income and minority renters more likely to be cost-burdened. The pandemic hit renters especially hard, with 46% of all renters cost-burdened in 2020. This is a 2.6% jump …

affordablehousingonline.com

52%
OFF

Rising Rents Taking Up Growing Share Of Americans’ Income

2 weeks from now

Nov 4, 2021 · The trend is more glaring in some metropolitan areas. Zillow found that Black tenants in San Diego spent 52% of their monthly income to cover the median rent of $1,934 in …

seattletimes.com

20%
OFF

NJ Rent Control Laws Vary By Town. Here's What To Know - Bergen …

2 weeks from now

Jan 26, 2022 · Renters in middle-income communities protested rent increases that could range from 20% to 40%. ... landlords can increase rent by 5% for tenants under 65 years old. For …

northjersey.com

FAQs about Rent and Utility Hikes Take Biggest Bite of Tenants’ Income in … Coupon?

How much do renters spend on utilities?

The number of renter households spending more than 30 percent of their income on rent and utilities rose by 2 million in just three years to a record high of 22.4 million, according to America’s Rental Housing 2024, a new report being released January 25 by the Harvard Joint Center for Housing Studies. ...

Are cost-burdened renters increasing?

The share of cost-burdened renters is increasing in most states, according to American Community Survey data for 2023. A majority of tenant households in 21 states paid 30% or more of their income on rent and utilities, up from seven states in 2019. ...

Why did the rent share of income increase?

The fact that the gross rent share of income did not rise nationally and in most states despite significant increases in rental costs could be due to higher renters’ incomes or to an increase in higher-income households joining the population of renters. Every year from 2011 to 2019, real rent costs increased less than 3.0%. ...

Which states saw a decrease in rent to renters' income?

Most states saw no significant change in the ratio of gross rent to renters’ income (Figure 1). Six states saw a decline in the share of renters’ incomes going to rent: Illinois, Kansas, Minnesota, New Mexico, New York and West Virginia. ...

Will rent hikes push low-income tenants out of the market?

The rent hikes risk pushing low-income tenants out of the market. When the pandemic struck and tourism dried up, Gerardo Vidal, a New York City tour guide, lost nearly all of his income, he said. ...

How much should tenants spend on housing?

While tenants in many U.S. cities have long spent at least 30 percent of their income on housing, the fact that this threshold has been passed at the national level marks a new milestone for housing affordability. ...