Since 2001, median rents have risen by 21 percent — while renters’ incomes have only increased by 2 percent.
With soaring real estate and housing prices in recent years, housing affordability rates hit a record high in 2022, with half of renters qualifying as “cost-burdened,” new research finds.by the Joint Center for Housing Studies of Harvard University published Thursday, there were a record 22.
Measures put in place in response to the pandemic had helped renters significantly, but now, with soaring housing costs, the “need for rental assistance remains greater than ever,” the report notes.
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