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