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

Previously in the Range

More by María Inés Taracena

Today | Wed | Thu | Fri | Sat | Sun | Mon
Meditation and Buddhist study

Meditation and Buddhist study @ Sky Island Zen

Tuesdays, Saturdays

All of today's events | Staff Picks

Staff Pick

The Harry Potter Charity Ball

Strada Company presents a celebration and cosplay party of all things Harry Potter for the benefit of… More

@ Tucson Scottish Rite Cathedral Sat., July 29, 6-10 p.m. 160 S. Scott Ave.

» More Picks

Submit an Event Listing

Popular Content

  1. Cinema Clips: Killing Ground (The Range: The Tucson Weekly's Daily Dispatch)
  2. Tour Diaries! XIXA Day 9: Show Rocks, Then Laundry Day in The Swiss Alps. (The Range: The Tucson Weekly's Daily Dispatch)
  3. A Few Thoughts on the New AzMERIT Scores (The Range: The Tucson Weekly's Daily Dispatch)
  4. Tour Diaries! XIXA in Fun, Fun, Fun on the Autobahn. Detained! (The Range: The Tucson Weekly's Daily Dispatch)
  5. The Weekly List: 13 Things To Do In Tucson In The Next 10 Days (The Range: The Tucson Weekly's Daily Dispatch)

© 2017 Tucson Weekly | 7225 Mona Lisa Rd. Ste. 125, Tucson AZ 85741 | (520) 797-4384 | Powered by Foundation