According to a new report from NYU’s Furman Center, renters who spend more than 30% of their incomes for rent has fallen over the past three years to 47.7%. In addition, report that median rents grew faster than inflation in almost all metro areas between 2012-2105. The report analyzes data from the American Community Survey, looking at trends in rental housing & renters from 2006-2015 in all U.S. metro areas with populations greater than 1 million. These 53 metro areas contained 165 million people (65 million households) and represents 63% of the U.S. population and 60 percent of its housing units.
Despite rising rents, the share of renters1 spending more than 30 percent of their income on rent (defined as rent burdened households) fell slightly between 2012 and 2015, as did the share spending more than 50 percent (defined as severely rent burdened households). Still, these shares were higher in 2015 than in 2006, and far higher than in earlier decades.
Click here to read the full report at NYU’s Furman Center.
