"Record Number of U.S. Renters Struggle with Unaffordable Housing Costs"

A new report from Harvard's Joint Center for Housing Studies reveals that half of all renters in the United States are spending more than 30 percent of their income on rent and utilities, with a record 12.1 million households spending over 50 percent. The surge in housing costs affects a wide range of renters, from low-income to higher earners, with middle-income renters experiencing the sharpest rise in cost burden. Interviews with renters across the country illustrate deep financial insecurity, as many struggle to make ends meet, leading to skipped meals, reduced social activities, and emotional tolls. While there is some short-term optimism with increasing vacancies and new multifamily units under construction, the situation remains dire for many renters.