Real Estate

Growth in income lags very far behind rises in rent: report

therealdeal.comIf you haven’t heard, it’s not easy for renters these days. But the complaints are not an exaggeration.

Examining census data from 1960 to present day, a new report has illustrated the drastic — but very real — drop in housing affordability nationwide.

Though median rents have increased by 64 percent between 1960 and 2014, median household incomes grew by only 18 percent in the same time, according to an analysis by rental listing website Apartment List cited by the Wall Street Journal.

And unless something major happens, the trajectory will continue.

Categories: Real Estate

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