Rents Continue To Increase Faster Than Incomes

As rents continue to increase faster than incomes – currently a 15-year trend – the number of households paying more than 50 percent of their income in rent could grow to 13 million by 2025, up 11 percent from the current rate according to Harvard University’s Joint Center for Housing Studies and Enterprise Community Partners. Traditionally, household paying more than 50 percent of their income in rent are considered “severely cost-burdened.”

Moreover the number of renters is also expected to increase due in large part to the growth of the Hispanic population which tend to be disproportionately renters.

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