Skip to main content

Report: Midsized Metro Areas Home to Greatest Rent Burdens

Phil Hall
Jan 14, 2016
U.S. metro areas with populations of less than 2.5 million experienced the most dramatic increases in unaffordable rent expenses over the past decade

U.S. metro areas with populations of less than 2.5 million experienced the most dramatic increases in unaffordable rent expenses over the past decade, according to new data report from Make Room, a renters’ advocacy campaign sponsored by the non-profit Enterprise Community Partners.

The new data defined “unaffordable rent” as the expenses carried by renters who shell out more than half of their household income (before taxes) toward rent and utilities. Measuring data covering 2005 to 2014, Make Room found the Jacksonville, Fla. metro area experienced the greatest unaffordable rent increases, with a 7.2 percent hike. Two state capitals—Richmond, Va., and Hartford, Conn.—followed with increases of 6.2 and 5.1 percentage points respectively.

On a state basis, Hawaii carried the greatest cost burdens as the share of renters facing severe difficulty paying rent grew by 6.9 percent from 2005 to 2014. Maine and Alaska also saw large numbers of renters with unaffordable housing costs, with increases of 6.5 percent and six percent respectively during this period of time.

“The shortage of affordable rental homes is a worsening, nationwide problem that must be addressed,” said Angela Boyd, managing director of Make Room. “Focus tends to center around affordability issues in high-density, high-cost coastal cities, but the data shows that mid-size cities across the country have felt the squeeze most during the past decade.” 

Published
Jan 14, 2016
UWM Adds 'Control Your Price' To 'Game On' Pricing

New program provides 125 basis points in price enhancements for loan orignators.

Industry News
Jan 11, 2023
Rocket Pro TPO Relieves Brokers Of Credit Fee Burden

Will provided free credit reports to brokers if they get their loan closed with the Detroit lender.

Industry News
Jan 10, 2023
Former Employees Sue Rocket Mortgage Over OT Pay

Claim company failed to properly calculate & pay OT for working beyond 40 hours a week.

Operations
Jan 09, 2023
Judge Grants UWM Partial Win In Ultimatum Lawsuit

AML’s declaration that the ultimatum violated antitrust law survived.

Industry News
Jan 04, 2023
A&D Mortgage Launches Temporary Rate Buydowns

Offering 3-2-1 and 2-1 buydown options.

Industry News
Jan 04, 2023
Zillow: 2M Homes No Longer Require A Jumbo Loan

This is the result of FHA's update to the baseline conforming loan limit in high-cost areas topping $1 million.

Industry News
Jan 04, 2023