More Renters Means Fewer Affordable Options

A new report from the National Low Income Housing Coalition (NLIHC) says that the number of Americans spending more than 50% of their income on housing is at an all-time high.

The study says that the troubled housing market, combined with demographic shifts, is increasing the market for rental housing and limiting availability:

"With little new supply of multifamily units in the pipeline, rents could rise sharply as demand increases. Regardless, affordability is likely to deteriorate further over the next few years as persistently high unemployment limits renter income gains."

Builder Magazine gives a breakdown of how some states are faring in this climate.

Full Story: As Renters Grow in Ranks, Options and Affordability Shrink

Comments

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $199
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $14.95 a month
Woman wearing city map tote bag

City Shoulder Totes - New Cities Added!

Durable CityFabric© shoulder tote bags available from 9 different cities.
$22.00
T-shirt with map of Chicago

Show your city pride

Men's Ultrasoft CityFabric© tees. Six cities available.
$23.00