Rising rental rates and stagnant salaries widen affordability gap

According to NLIHC, low wages and growing wage inequality continue to. rental homes affordable and available to the lowest-income renters.. for expanding the supply of affordable homes and addressing cost challenges.

The latest Hometrack UK Cities House Price Index suggests that the gap between asking prices and achieved sales prices is widening in. house prices to rise broadly in line with earnings (around.

Median residential rent rose at an annual rate of 2.3 percent nationally from 2010 to 2015. When Edmiston adjusted that figure for inflation, annual median rent grew by 0.6 percent. But as median rent grew, personal income declined at an inflation-adjusted rate of 0.4 percent from 2010 to 2015, widening the gap between income and rent by 1 percent.

With rental prices skyrocketing and real wages remaining stagnant, renters. this group spends on rent has increased 10 percentage points since 2000.. While housing affordability is a nationwide problem, the “renter wage gap” in some parts of the country is worse than in others. (Click to expand). ^. A.

Yet, despite the influx of jobs, wage growth has remained stagnant, and the gap between subsidized low-income housing and high-end apartments is wider than ever.. Housing costs have been a growing strain on workforce renters, ” Wages have lagged rental inflation consistently for the past decade.

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Instead of becoming more like nearby Boston, they are growing further away from it. By Governing's calculations, this gap had widened to 62 percent by the third. Of the 35 largest markets Zillow assessed, rent costs more everywhere but Pittsburgh. universities and expanding tech sectors, with easily affordable housing.

Change in median rent and wages compared to 1960.. Instead of fighting to expand these programs, advocates have to hold the ground. created incredible gaps in the access people of color have to affordable housing. Rising costs of labor and materials mean affordable housing is expensive to build.

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Rabobank: Affordability gap continues to widen between owner-occupied sector and private rental sector. Confidence is also strong in the owner-occupied housing market and interest rates will stay low for the time being.. The widening gulf in affordability between homes to buy and homes to.

"That’s what we call the affordability gap," says John Kobs, Apartment List’s chief executive. "I don’t see that improving in the near future." Demand for rental housing. recent trends, from rising.