Rent is eating up a greater share of tenants' income in almost every state
There were 21 states where a majority of tenant households spent 30% or more of their incomes on rent and utilities last year, compared with just seven states in 2019.
Nationwide, about 22 million renters are shouldering that percentage. Anyone paying more than 30% is considered “cost burdened,” according to the U.S. Department of Housing and Urban Development, and may struggle to pay for other necessities, such as food, clothing, transportation and medical care.
Three presidential swing states had among the biggest increases in the share of renters who spent that much on housing: Arizona (to 54% from 46.5%), Nevada (to 57.4% from 51.1%) and Georgia (to 53.7% from 48.4%). The numbers are based on a Stateline analysis of American Community Survey data released today by the U.S. Census Bureau. Florida and Maine also saw large jumps.
In Arizona, low wages, a housing shortage, and short-term rental and vacation homes are eating away at the stock of affordable housing for renters, according to Alison Cook-Davis, associate director for research at Arizona State University’s Morrison Institute for Public Policy.
https://washingtonstatestandard.com/2024/09/15/rent-is-eating-up-a-greater-share-of-tenants-income-in-almost-every-state/