More than half of San Antonio-area renters are 'cost-burdened' by how much of their monthly paycheck goes to keeping their lights on and a roof over their head, according to a new report from the Harvard Joint Center for Housing Studies. Indeed, 52.
The percentage of San Antonians financially squeezed by their rent payments is higher than the statewide average, according to a new analysis.
More than half of San Antonio-area renters are"cost-burdened" by how much of their monthly paycheck goes to keeping their lights on and a roof over their head, according to aIndeed, 52.7% of renter households in the San Antonio-New Braunfels metro fall into the cost-burdened category, meaning 30% or more of their income covers rent and utilities, the analysis shows.
“If you’re spending more than 30% of your income on rent, you don’t have enough money for other essentials, Ben Martin, research director for housing research group Texas Housers of the study. “This forces families to make tragic decisions about trade-offs.
Politicians and business leaders frequently tout Texas as being one of the most-affordable states. However, the new report shows that rental costs are squeezing the finances of many residents.
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