Skip to main content

Report: Midsized Metro Areas Home to Greatest Rent Burdens

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.” 

About the author
Published
Jan 14, 2016
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024