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Renters More Challenged Than Homeowners for Affordable Housing

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“The Pew report showed rent costs nationwide increased by a median of 12% between 2019 and 2021, with higher spikes in cities including Boston, Phoenix, Atlanta, Chicago and Dallas. U.S. median household income declined 2.9% from 2019 to 2020, with no significant change from 2020 to 2021, census data shows.

The nation’s nearly 46 million renting households accounted for about one-third of all households at the end of 2021. More than 19 million, or 40%, of all U.S. renter households spent more than 30% of income on housing costs during the past five years.”

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