Why Nearly Half of All Renters Can’t Afford Their Rent

Source:: CNN Money

Nearly half of renters in the U.S. are struggling to afford their monthly payments.

Experts generally recommend keeping your housing costs around 30% of your monthly income. But the number of “cost-burdened” tenants — those who spend more than 30% of their income on rent — rose to 21.3 million people last year, according to Harvard’s Joint Center for Housing Studies.

Of those, more than 26% are “severely cost burdened” and spend more than half of their income to cover rent.

Here’s the problem: rents are increasing much… + Read More




Are You A Renter and Considering Buying A Home?

Search For Homes Now