High Housing Costs Burden Renters Nationwide
High Housing Costs Burden Renters Nationwide
High Housing Costs Burden Renters Nationwide
News summary

Housing affordability remains a pressing issue across several U.S. metropolitan areas. In Denver, nearly 25% of renters spend over half their income on housing, prompting a proposed measure to raise sales tax for affordable housing. Tampa Bay reports nearly 30% of renters facing similar burdens, with rents increasing 50% since 2019 while wages rose only 15%. San Diego County also sees about 30% of renters in financial distress, with rents up 25% since 2019. Meanwhile, in Charlotte, 47% of renters struggle with housing costs, driven by stagnant wages and rising rents. These trends highlight a nationwide crisis exacerbated by factors like race and geography, affecting financial stability for many households.

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