AssetID: 53407864
Headline: UNCAPTIONED: Half of US Renters Can No Longer Afford Housing, Study Finds
Caption: Half of US Renters Can No Longer Afford Housing, Study Finds. A growing number of households are struggling to pay rent, according to a new report by the Joint Center for Housing Studies of Harvard University. The study found that a record half of renters in the United States paid over 30% of their income toward rent and utilities in 2022. Almost half of those people were found to be extremely cost-burdened, paying over 50% of their income. "We actually saw increases across every single income category that we look at, which sort of surprised us." Whitney Airgood-Obrycki, senior research associate with the center and the report's lead author, via NPR. The study found that the largest leap in unaffordability was for households with an annual income between $30,000 and $74,000. Among those with full-time jobs, a third of all renters were living under cost-burdened conditions. For those making less than $30,000 a year, a staggering all-time high of 83% were cost-burdened. At the same time, homeless rates in the U.S. have also hit a record high. "We simply don't have enough homes that people can afford." on Homelessness, via NPR. "And when you combine rapidly rising rent — that it just costs more per month for people to get into a place and keep a place — you get this vicious game of musical chairs." Jeff Olivet, executive director of the U.S. Interagency Council on Homelessness, via NPR. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Renters,United States,no longer,Afford,Housing,Study,Paid,Citizen,Joint Center for Housing Studies,Harvard University,Income,Money,Increase
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