A record number of Americans can’t afford their rent. Lawmakers are scrambling to help
The rising cost of rent has led to a record high of 22.4 million US renter households spending more than 30% of their income on rent in 2022, according to data from the Harvard Joint Center for Housing Studies. This is due to factors like inflation, a shortage of affordable housing, and the end of pandemic relief. This has resulted in a significant rise in eviction filings and an increased number of people becoming homeless. The hardest hit have been renters earning less than $30,000 annually. State and federal lawmakers are now making housing a priority and are proposing measures such as eviction protections, zoning reforms, capping annual rent increases, and dedicating funds toward building more affordable housing units.
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