New Report from the Pew Charitable Reports shows that high housing costs threaten financial security and put homeownership out of reach for many.
Recent high housing costs threaten financial security and put homeownership out of reach for many households, as demonstrated by a recent Pew Charitable Trust in depth study of rent burdened households. The findings are stark including:
- In 2015, 38 percent of all “renter households” were rent burdened, an increase of about 19 percent from 2001.
- The share of renter households that were severely rent burdened increased 42 percent between 2001 and 2015, to 17 percent.
- Senior-headed renter households are more likely to be rent burdened than those headed by people in other age group.
- Fewer rent-burdened households transitioned from renting to owning in 2015 than in 2001.