The 2015 report on rental housing from the Harvard Joint Center for Housing Studies has been released.
The report, America’s Rental Housing: Expanding Options for Diverse and Growing Demand, found that 43 million families and individuals live in rental housing, which is 9 million more households than 2005. The rise is the largest 10-year gain on record.
Renters continue to spend a larger portion of their income on rent. In 2014, 21.3 million renters were classified as cost burdened, meaning they spent more than 30% of their income on rent. In 2001, only 14.8 million individuals or families spent 30% or more on rent. Nearly 49% of renters are cost burdened, and 26% are categorized as severely cost burdened (paying more than half of income towards rent).
“More families are renting and too many of them are struggling as supply fails to meet demand and stagnant incomes fail to keep up with rising rents,” said Julia Stasch, President of the John D. and Catherine T. MacArthur Foundation, in a statement. “The affordability of rental housing is a critical national issue that deserves more attention and more action from policymakers."
Related Stories
AEC Tech | Jan 28, 2021
The Weekly show, Jan 28, 2021: Generative design tools for feasibility studies, and landscape design trends in the built environment
This week on The Weekly show, BD+C editors speak with AEC industry leaders from Studio-MLA and TestFit about landscape design trends in the built environment, and how AEC teams and real estate developers can improve real estate feasibility studies with real-time generative design.
Multifamily Housing | Jan 27, 2021
2021 multifamily housing outlook: Dallas, Miami, D.C., will lead apartment completions
In its latest outlook report for the multifamily rental market, Yardi Matrix outlined several reasons for hope for a solid recovery for the multifamily housing sector in 2021, especially during the second half of the year.
Modular Building | Jan 26, 2021
Offsite manufacturing startup iBUILT positions itself to reduce commercial developers’ risks
iBUILT plans to double its production capacity this year, and usher in more technology and automation to the delivery process.
Multifamily Housing | Jan 26, 2021
Merriman Anderson/Architects designs affordable housing complex out of shipping containers
The architect partnered with CitySquare Housing on the project.
Multifamily Housing | Jan 20, 2021
Abandoned Miami hospital gets third life as waterfront condo development
The 1920s King Cole Hotel becomes the Ritz-Carlton Residences Miami in the largest residential adaptive reuse project in South Florida.
Multifamily Housing | Jan 19, 2021
$100 million affordable housing development under construction in Santa Clara
KTGY Architecture + Planning is designing the project.
Multifamily Housing | Jan 14, 2021
The Weekly show, Jan 14, 2021: Passive House innovations, and launching a design studio during the pandemic
This week on The Weekly show, BD+C editors speak with AEC industry leaders about innovations in Passive House design, and the challenges of building a design team and opening a new design studio during a pandemic.
Multifamily Housing | Jan 11, 2021
McHugh Construction completes 5th-tallest all-residential building in the U.S.
McHugh Construction Completes Two Chicago Apartment Projects for Fifield Cos. and Crescent Heights, Including NEMA Chicago –Tallest All-Residential Building in Chicago and 5th Tallest in North Americ
Multifamily Housing | Jan 8, 2021
Student housing development in the time of COVID-19
Despite the coronavirus pandemic, many college and university residences were completed in time for classes, live or virtual. Here are 14 of the best.
