Low-Income Renters Spent Larger Share of Income on Rent in 2021

Share of income needed to pay rent increased the most for low-income households from 2019 to 2021. Learn more in this America Counts story.

America Counts: Stories Behind the Numbers Low-Income Renters Spent Larger Share of Income on Rent in 2021 The pandemic began in the United States following a period of rising home prices and declining interest and vacancy rates. These pressures increased during the pandemic, contributing to higher home prices and rents. The percentage of household income renter households spent on gross rent (rent plus utilities) — the housing cost ratio — increased nationwide from 2019 to 2021, according to recently released data from the U.S. Census Bureau's 2021 American Community Survey (ACS). Read More But renter households with the lowest annual incomes, a population that traditionally has less income available for other essential goods, experienced the largest percentage point increases. When a household has a cost ratio of over 30%, it is considered cost-burdened, according to the Department of Housing and Urban Development (HUD). Severely cost-burdened households have cost ratios of over 50%. Continue reading to learn more about: Renters expenditures on rent since 2019 The difference in renters' household incomes versus homeowners Low-income renters being the hardest hit Renter households at all income levels more likely to be cost burdened  Help us spread the word about America Counts! Share this on social media or forward it to a friend. Share This You May Be Interested In Housing Costs a Big Burden on Renters in Largest U.S. Counties U.S. Census Bureau data show that renters are more likely than homeowners to spend more than 30% of their income on housing costs. Learn More About America Counts America Counts features stories on various topics including:  Families, Housing, Employment, Business, Education, Economy  Emergency Management, Health, Population, Income and Poverty For the Media: Contact our Public Information Office for inquiries or interviews.  Don't miss an America Counts story! Use the button below to sign up and update your preferences. Subscribe

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