Magazine article Journal of Property Management

Renters Are Making More, and Landlords Get It All

Magazine article Journal of Property Management

Renters Are Making More, and Landlords Get It All

Article excerpt

Bloomberg, Clark

Some 26 percent of U.S. renters paid at least 50 percent of their income to landlords in 2014 an increase from 20 percent in 2001, according to the new State of the Nation's Housing report, published by Harvard's Joint Center for Housing Studies (JCHS) and cited by Bloomberg. On the positive side, the JCHS study found, the number of homeowners who are moderately cost-burdened (paying 30 percent to 50 percent) or severely cost-burdened by mortgage payments (paying 50 percent or more of their income) actually decreased from 2013 to 2014. Additional data compiled earlier in June by Greg Willett, chief economist at RealPage, suggests that market-rate renters are keeping up with rising rents. Some are even putting money away for an eventual down payment on a house.

The median rent-to-income ratio derived from 4 million apartments tracked by RealPage has hovered between 22. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.