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Rental Demand Grows as Rental Supply Drops
"A growing number of low-income renters are competing for a shrinking number of low-rent units," reports Daniel McCue.
McCue is sharing the findings of a new analysis of rental markets by the Joint Center for Housing Studies of Harvard University. The analysis compares changes in the rental supply at various rent levels with changes in the number of renter households at various income levels.
"The analysis also found that the rapid growth in high-income renters over the last ten years has outnumbered growth in high-rent units, and that similar trends are shared by nearly every metro area in the US."
The article digs deeper into the findings and provides several infographics to help illustrate the findings.