Rent Burden Rises as Millions Struggle to Pay


Posted On: September 25, 2024

marketing@navigatehousing.com

The rent burden rises across America. Millions are spending more on rent than ever before according to a new report from American Community Survey. In 21 states, most tenant households spent over 30% of their income on rent and utilities last year.

Rent Burden Rises as Millions Struggle to Pay Higher Prices.

This number has risen significantly from just seven states in 2019. Nationwide, about 22 million renters face this cost burden. According to HUD, those paying more than 30% of their income on housing may struggle to afford food, clothing, transportation, and medical care.

Rent Burden: What’s Behind the Increase?

The construction of new homes and apartments in states like Arizona and Nevada hasn’t kept pace with population growth. This is partly due to the housing bubble of the late 2000s, which left many homes vacant.

In Nevada, Las Vegas had the highest percentage of cost-burdened renters in the state at 58.3%. This figure is higher than both the New York City and San Francisco metro areas.

Other states, including Florida and Maine, also saw significant increases in the share of renters spending more than 30% of their income on housing. Florida now leads the nation with 61.7% of renters facing this burden.

Despite the grim numbers, experts like Alison Cook-Davis from Arizona State University suggest that continued home construction could eventually improve the situation. However, she warns that it may take years for supply to meet demand.

If you keep building, eventually this will sort itself out. But that could take years. It’s a slow process.”

Alison Cook-Davis, Arizona State University

The share of cost-burdened renters increased since 2019 in every state except Vermont, Wyoming, North Dakota and Rhode Island.

Resources Available

If you or a loved one are struggling to pay as America’s rent burden rises, there are several resources available.

1. Federal and State Assistance Programs

2. Local Non-Profit Organizations

  • United Way: Offers assistance and can connect you with local resources. You can dial 2-1-1 to speak with a representative who can guide you to available rental assistance programs.
  • Salvation Army: Provides emergency rent and utility assistance in many areas. Contact your local branch for details.

3. Community Action Agencies (CAA)

  • These agencies offer rental assistance programs, financial counseling, and other support services. Visit the National Community Action Partnership website to find a CAA near you.

These resources can offer direct financial assistance, guidance, or aid, depending on your circumstances. It’s always a good idea to reach out to multiple sources to find the best support for your situation.



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