The gap between rental costs and household income is widening to unsustainable levels across the country.
As more renters face steeper costs, it may put them even further away from home ownership,
according to a new study released by the National Association of
REALTORS®. NAR evaluated income growth, housing costs, and changes in
share of renter and owner-occupied households over the past five years
in metropolitan statistical areas across the U.S.Over
the last five years, a typical rent rose 15 percent, while the income
of renters grew by only 11 percent, according to their research. Current renters seeking relief and looking to buy are facing the same dilemma: Read more.
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