The number of households spending more than 50 percent of their income on rent is expected to rise at least 11 percent from 11.8 million to 13.1 million by 2025, according to a release of new research by Harvard University’s Joint Center for Housing Studies (JCHS) and Enterprise Community Partners Inc (Enterprise). The study named Projecting Trends in Severely Cost-Burdened Renters: 2015-2025 paints a bleak picture of a growing renter affordability crisis, with the largest increases expected among older adults, Hispanics and single-person households. The findings suggest that even if trends in incomes and rents turn more favorable, a variety of demographic forces—including the rapid growth of minority and senior populations—will exert continued upward pressure on the number of severely cost-burdened renters. “Our analysis shows that even in the unlikely event that income growth greatly outpaces rent gains, the number of severely cost-burdened renters will remain near current record levels,” Christopher Herbert, managing director of Harvard’s Joint Center for Housing Studies, said in the release. The folks at affordableonlinecolleges.net have recently completed a comprehensive infographic (below) on the current rental housing crisis in the U.S. Using recently published data from Harvard’s Joint Center for Housing Study, the graphic covers the origins, unprecedented scope, and economic costs of the crisis. Source: Affordable-Online-Colleges.net
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