A record number of Americans can’t afford their rent

A multitude of Americans are confronted with agonizing choices as a record number grapple with soaring, unaffordable rent hikes.

This crisis is driven by escalating inflation, a scarcity of affordable housing, and the conclusion of pandemic relief measures.

According to the latest data from the Harvard Joint Center for Housing Studies released in January, an unprecedented 22.4 million renter households, constituting half of renters nationwide, were allocating more than 30% of their income toward rent in 2022.

During the same year, the count of affordable units, with rents below $600, plummeted to 7.2 million, reflecting a decrease of 2.1 million from a decade earlier.

These factors have contributed to a sharp increase in eviction filings and a historic surge in homelessness, the Associated Press reported.

READ MORE: https://apnews.com/article/affordable-housing-rent-eviction-price-harvard-congress-f5411012e10fa78d0257c137e60c1be3

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