Study: Renters’ Rise Extends Beyond Cities to the Suburbs
New York — In the American imagination, suburbs are places to buy a house and put down roots. But a growing percentage of suburbanites rent, according to a new study. About 29 percent of metropolitan-area suburbanites were renters in 2014, up from 23 percent in 2006, according to a report released Tuesday by New York University’s Furman Center real estate think tank and the bank Capital One. The finances of home ownership since the...
Minimum Wage Not Rent Money
Washington — If you’re living in a one-parent household making the $7.75 minimum wage in Hawaii, you would need to work 163 hours a week to comfortably make your rent payment on a two-bedroom apartment — giving you a luxurious five hours a week to sleep, eat or spend time with your family. To comfortably afford a decent two-bedroom home on a 40-hour work week, by contrast, you’d need to earn $31.61 an hour. The map here shows the...
Report: Rent Unaffordable For 1 in 4 U.S. Households
Washington — More than one in four U.S. renters have to use at least half their family income to pay for housing and utilities. That’s the finding of an analysis of Census data by Enterprise Community Partners, a nonprofit that helps finance affordable housing. The number of such households has jumped 26 percent to 11.25 million since 2007. Since the end of 2010, rental prices have surged at nearly twice the pace of average hourly...
