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
Multifamily Housing | Feb 26, 2019
275-unit residential building under construction at 2111 S. Wabash
Solomon Cordwell Buenz is designing the project.
Hotel Facilities | Feb 4, 2019
31-story YotelPAD Miami combines 222 hotel rooms and 231 condominiums
YotelPAD is a new brand by Yotel.
Multifamily Housing | Jan 31, 2019
Student housing series: Designing a home away from home in The Golden State
California asserts building code restrictions more stringently than other states, making design challenging for student housing.
Multifamily Housing | Jan 29, 2019
Here's what $41M will buy you in the OMA-designed Avery tower in SF
A glass-enclosed, full-floor, 8,482-sf penthouse will sit more than 600 feet above San Francisco's Transbay District.
Multifamily Housing | Jan 28, 2019
Luxury townhomes rise on the site of a former office park in Irvine, Calif.
KTGY Architecture + Planning designed the project.
Multifamily Housing | Jan 25, 2019
The country's most expensive home sells for $238 million
The unit comprises four stories at 220 Central Park South in Manhattan.
Multifamily Housing | Jan 22, 2019
Caoba is the first tower to open at Miami Worldcenter
Caoba was co-developed by CIM Group and Falcone Group.
Multifamily Housing | Jan 16, 2019
Micro-units: Good for the city? Good for citizens?
Thinking more holistically about housing typologies and zoning will improve our public realm.
Multifamily Housing | Jan 7, 2019
364-unit multifamily development planned near Lake Lewisville in Texas
BGO Architects is designing the project.
Multifamily Housing | Dec 18, 2018
Redesigning the intergenerational village: Innovative solutions for communities and homes of the future
Social sustainability has become a central concern in terms of its effect that spans generations.