When Rents Rise But Wages Don't
The county of Spokane in Washington exemplifies the regional challenge presented by skyrocketing rental prices.
According to an article by Amy Edelen, the county of Spokane's rental market is putting more and more strain on residents. In Spokane County, half of renters spend over 30 percent of their income on rent according to analysis of U.S. Census data by Apartment List.
By comparison, "Seattle’s share of cost-burdened renters is more than 47 percent – lower than Spokane County – but it’s because rent and incomes both increased rapidly," according to Edelen.
"For smaller metro areas such as Spokane, rents are rising while wages are remaining stagnant," adds Edelen. The article includes a lot more background on the challenges facing Spokane and other areas like it, as well as specifics from the local debate about how to improve the market for renters.
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