
Nearly half of U.S. renters now spend more than 30% of their income on rent, a trend that has worsened with rising housing costs since 2021. According to 2023 Census data, 49% of renters are rent-burdened, including 43.6% in Pennsylvania. This makes it harder for renters to afford essentials and save for homeownership.
Affordable housing availability has decreased, especially for low-income renters, with a significant impact on vulnerable populations. Traditionally affordable states like Florida and Texas are seeing rent increases that outpace wage growth, making homeownership increasingly unattainable.
The rent burden affects minority renters the most. While there are calls for more affordable housing and rental assistance, the end of COVID-19 relief programs in 2023 has left many renters without sufficient support.
Source: WFMZ-TV 69News
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