Search
 
Analysis

Renting and Buying Are Less Affordable Than Ever

A typical household spends 7.6% more of its income to rent a median-priced housing unit in 2020 versus 2021.

By Lynn Pollack | March 22, 2021 at 07:16 AM

Nearly all of the 50 biggest metro areas in the US have become less affordable for renters and prospective first-time homebuyers over the last two decades, with the percentage of income devoted to rental payments rising sharply in most regions. 

A new report from the Mortgage Bankers Association’s Research Institute for Housing America shows that annual median rent growth rose at 2% above inflation, whereas annual median income rose 0.8%, leading to a typical household spending 7.6% more of its income to rent a median-priced housing unit in 2020 versus 2021.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Navigating 2024's Shifts and Strategies in Retail

Navigating 2024's Shifts and Strategies in Retail

Natalie Dolce |

As the retail landscape continues to transform, retailers are innovating to meet evolving consumer expectations. GlobeSt.com catches up with a few key players in this article in advance of the upcoming ICSC Las Vegas retail event.

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.