By — Laura Santhanam Laura Santhanam By — Megan Crigger Megan Crigger Leave your feedback Share Copy URL https://www.pbs.org/newshour/nation/severely-burdened-renters Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter A quarter of all renters spend half of income on housing Nation Sep 21, 2015 12:01 AM EDT About one quarter of all renters spend at least half of their paychecks just to keep roofs over their heads, and those numbers will only grow in the next 10 years, new research suggests. Out of 40 million renters in the United States today, 11.2 million of them are severely burdened by rent, according to a newly released study from Harvard’s Joint Center for Housing Studies and Enterprise Community Partners, an affordable housing advocacy group. By 2025, that number could grow to 15 million severely burdened renters nationwide out of a projected total of 48 million, said Christopher Herbert, a housing and urban policy expert and the joint center’s managing director. A Key Driver of Worsening Affordability is Falling Incomes Among Renters Percent Change in Real Median Value Since 2001 Renter Housing Costs Renter Income Source: Joint Center for Housing Studies The study explores how much a home costs the average American renter and what factors may make rental housing increasingly unaffordable, he said. Here’s why that matters. Herbert said that what economists see today is the unfolding twin legacies of the foreclosure crisis that pushed people out of their homes and the Great Recession that cost people jobs and stunted income growth for those who remained employed. These numbers indicate that an economic recovery is far from over. Demographic shifts compound the problem. Aging Baby Boomers often are living on fixed incomes that quickly stretch thin, and the nation’s growing black and Hispanic population disproportionately represent how many people are in poverty today. The study’s authors recommended that all levels of government make affordable rental housing a policy priority. We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now By — Laura Santhanam Laura Santhanam Laura Santhanam is the Health Reporter and Coordinating Producer for Polling for the PBS NewsHour, where she has also worked as the Data Producer. Follow @LauraSanthanam @LauraSanthanam By — Megan Crigger Megan Crigger
About one quarter of all renters spend at least half of their paychecks just to keep roofs over their heads, and those numbers will only grow in the next 10 years, new research suggests. Out of 40 million renters in the United States today, 11.2 million of them are severely burdened by rent, according to a newly released study from Harvard’s Joint Center for Housing Studies and Enterprise Community Partners, an affordable housing advocacy group. By 2025, that number could grow to 15 million severely burdened renters nationwide out of a projected total of 48 million, said Christopher Herbert, a housing and urban policy expert and the joint center’s managing director. A Key Driver of Worsening Affordability is Falling Incomes Among Renters Percent Change in Real Median Value Since 2001 Renter Housing Costs Renter Income Source: Joint Center for Housing Studies The study explores how much a home costs the average American renter and what factors may make rental housing increasingly unaffordable, he said. Here’s why that matters. Herbert said that what economists see today is the unfolding twin legacies of the foreclosure crisis that pushed people out of their homes and the Great Recession that cost people jobs and stunted income growth for those who remained employed. These numbers indicate that an economic recovery is far from over. Demographic shifts compound the problem. Aging Baby Boomers often are living on fixed incomes that quickly stretch thin, and the nation’s growing black and Hispanic population disproportionately represent how many people are in poverty today. The study’s authors recommended that all levels of government make affordable rental housing a policy priority. We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now