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
Mixed-Use | Sep 25, 2017
One of L.A.’s most sought-after neighborhoods receives a new mixed-use development
The new development will feature 166 units and 9,000 sf of ground-floor retail.
Mixed-Use | Sep 21, 2017
Entire living rooms become balconies in a new Lower East Side mixed-used development
NanaWall panels add a unique dimension to condos at 60 Orchard Street in New York City.
Giants 400 | Sep 20, 2017
Bubble? What bubble?: Apartment and condo construction simply can't keep up with demand
Since the current multifamily boom took off in 2010, most activity has focused on large urban areas.
Multifamily Housing | Sep 20, 2017
New housing development rises from a historic textile mill’s ashes
Loft Five50 will add 137 housing units to Lawrence, Mass.
Multifamily Housing | Sep 19, 2017
Top 90 multifamily construction firms
Lendlease, Suffolk Construction, and Clark Group top BD+C’s ranking of the nation’s largest multifamily sector contractor and construction management firms, as reported in the 2017 Giants 300 Report.
Giants 400 | Sep 18, 2017
Top 40 multifamily engineering firms
WSP, AECOM, and Thronton Tomasetti top BD+C’s ranking of the nation’s largest multifamily sector engineering and EA firms, as reported in the 2017 Giants 300 Report.
Multifamily Housing | Sep 15, 2017
Hurricane Harvey damaged fewer apartments in greater Houston than estimated
As of Sept. 14, 166 properties reported damage to 8,956 units, about 1.4% of the total supply of apartments, according to ApartmentData.com.
Giants 400 | Sep 14, 2017
Top 95 multifamily architecture firms
Humphreys & Partners Architects, KTGY, and Perkins Eastman top BD+C’s ranking of the nation’s largest multifamily sector architecture and AE firms, as reported in the 2017 Giants 300 Report.
Multifamily Housing | Sep 5, 2017
Free WiFi, meeting rooms most popular business services amenities in multifamily developments
Complimentary, building-wide WiFi is more or less a given for marketing purposes in the multifamily arena.
University Buildings | Sep 1, 2017
The University of Texas receives boutique-style student housing complex
The Ruckus Lofts provide 46 furnished units and 165 beds for UT students.
