Recent findings have highlighted a pressing issue facing almost half of all American renters: affordability. These findings stem from a study by the illustrious Joint Center for Housing Studies of Harvard University, which brought to light an unsettling reality in 2022.

Amid continually rising rent costs throughout the COVID-19 crisis, a startling 50% of U.S. renters coughed up more than 30% of their earnings on rent and utilities, as pointed out by NPR. Compounding this, almost half of this group were subjected to the distress of spending over 50% of their income on their living costs.

This situation presents an unexpected reality. Affordability challenges have ballooned across every single income bracket monitored, according to the lead author of the report, Whitney Airgood-Obrycki, a top-notch research associate with the center.

Notably, those households pulling in between $30,000 and $74,999 per year experienced the steepest climb in unaffordability since 2019. From the workforce, a staggering one-third of full-time renters found housing costs to be a heavy burden, as evidenced by the report.

An existing pinch-point was found amongst renters with annual earnings below $30,000, whose struggles with housing affordability were already acute. Counter to Airgood-Obrycki's expectations, these strains escalated further with burdensome housing costs affecting a record 83% of this group. Suffice to say, the residual amount left over for other household expenses has experienced a drastic fall, plummeting almost by half, to a mere $310 per month as per NPR, citing the study’s findings.

Recent findings have highlighted a pressing issue facing almost half of all American renters: affordability. These findings stem from a study by the illustrious Joint Center for Housing Studies of Harvard University, which brought to light an unsettling reality in 2022.
Amid continually rising rent costs throughout the COVID-19 crisis, a startling 50% of U.S. renters coughed up more than 30% of their earnings on rent and utilities, as pointed out by NPR. Compounding this, almost half of this group were subjected to the distress of spending over 50% of their income on their living costs.
This situation presents an unexpected reality. Affordability challenges have ballooned across every single income bracket monitored, according to the lead author of the report, Whitney Airgood-Obrycki, a top-notch research associate with the center.
Notably, those households pulling in between $30,000 and $74,999 per year experienced the steepest climb in unaffordability since 2019. From the workforce, a staggering one-third of full-time renters found housing costs to be a heavy burden, as evidenced by the report.
An existing pinch-point was found amongst renters with annual earnings below $30,000, whose struggles with housing affordability were already acute. Counter to Airgood-Obrycki's expectations, these strains escalated further with burdensome housing costs affecting a record 83% of this group. Suffice to say, the residual amount left over for other household expenses has experienced a drastic fall, plummeting almost by half, to a mere $310 per month as per NPR, citing the study’s findings.

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