Thursday, December 17, 2015

Report: 55 Percent of Tucson Renters Spend More Than One-Third of Income on Rent

Posted By on Thu, Dec 17, 2015 at 10:00 AM

click to enlarge An apartment with no furniture...because there is no money for furniture. - COURTESY OF PHOTOSPIN
  • Courtesy of Photospin
  • An apartment with no furniture...because there is no money for furniture.

An analysis by the website Apartment List says more than half of Tucson renters spend more than one-third of their (our) income on rent.

The site used U.S. Census data from 2007 to 2014 to look into which cities and states have the most "cost-burdened renters," meaning people who give more than 30 percent of their monthly income to a landlord to pay for a roof over their heads. Nationwide, 52 percent of people are "cost-burdened." In Tucson, the number is even higher at 55.6 percent—rent prices continue to increase, but salaries remain low. Employers have high demands, but don't think workers deserve a living wage.

Apparently, San Francisco, Seattle, Denver and Austin did well, because incomes have "increased in line with rent growth." Well, at least Tucson is doing better than Miami, Detroit and Los Angeles, where more than 60 percent of the population is spending a big chunk of their income on rent. 

Read the entire report on Apartment List's website.
With the U.S. homeownership rate at its lowest since 1967, the U.S. renter population is the largest it has ever been, and now stands at 43 million households. The share of U.S. renters facing cost burdens, however, has risen steadily in the past 50 years, from 24% in 1960 to 38% in the year 2000. Since then, rents have continued to rise steadily, increasing by 3.2% last year – twice the pace of overall inflation.

The past few years have seen modest increases in renter incomes, but they are still lower than 2001 in inflation adjusted terms. As a result, the share of cost-burdened renters (paying more than 30% of their income on rent) has risen in many cities and states across the nation. According to the census data used in our analysis, the share of cost-burdened renters is 40 percent or higher in all but two states as of 2013.

Tags: , , , , , ,

Comments (9)

Showing 1-9 of 9

Add a comment

Subscribe to this thread:
Showing 1-9 of 9

Add a comment

More by María Inés Taracena

Today | Thu | Fri | Sat | Sun | Mon | Tue
PiYo Strength Class

PiYo Strength Class @ Floor Polish

Thursdays, 4:30-5:30 p.m.

All of today's events | Staff Picks

Staff Pick

Tucson International Mariachi Conference

The Tucson International Mariachi Conference was created to pass mariachi traditions to the next generation. 4/26 @… More

@ AVA: Anselmo Valencia Tori Amphitheater Thu., April 26, 6-8 p.m., Fri., April 27, 7-9 p.m. and Sat., April 28, 11 a.m.-11 p.m. Casino del Sol, 5655 W. Valencia Road.

» More Picks

Submit an Event Listing

Popular Content

  1. Eve of a Strike: Teachers and Districts Prep To Walk out of Schools This Week (The Range: The Tucson Weekly's Daily Dispatch)
  2. Conservatives Told: Keep Criticizing Teachers, But Not About Their Pay or Perks (The Range: The Tucson Weekly's Daily Dispatch)
  3. Catalina Brewing Beers Good News for Striking Teachers (The Range: The Tucson Weekly's Daily Dispatch)
  4. Tucson Youth Making the Border Art (The Range: The Tucson Weekly's Daily Dispatch)
  5. Antigone Books To Be Sold to Three Employees (If They Can Raise Some More Cash) (The Range: The Tucson Weekly's Daily Dispatch)

© 2018 Tucson Weekly | 7225 Mona Lisa Rd. Ste. 125, Tucson AZ 85741 | (520) 797-4384 | Powered by Foundation