The Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA), and the Department of Housing and Urban Development (HUD) have jointly launched a new mortgage and housing assistance website to help Americans impacted by the COVID-19 pandemic navigate through this time with the latest accurate housing assistance information. Homeowners and renters can access the website at cfpb.gov/housing.
a Human Touch
The Perfect Balance
According to a new report from HotPads, renters in the United States spent a total of $504 billion in rent this year, an increase of $12.6 billion, or 2.6 percent, from 2017, despite there being fewer renter households in 2018. The current median rent for the nation is $1,475, a 3 percent increase from last year.
A new Apartment List survey of 24,000 renters across the U.S. reveals that the majority of renters plan to relocate to and settle down in cities where they don’t currently live, with the exception of Sunbelt renters, who are more likely to settle down where they presently reside.
Median rent for the least expensive multifamily rental homes is rising faster than median rent overall, and only a small portion of all new apartments is at the low end, according to the latest Zillow® analysis.
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Americans spent $535 billion on rent in 2015, according to a recent report from Zillow. “That’s a lot,” you might be thinking, or, “So, what? A lot of people rent in this country.” Here’s some context for you; this is 19 more billions used on rent in 2015 than the year before, a near four percent increase from the $516 billion spent in 2014. The study analogizes that this $535 billion is nearly equal to the budget of the Department of Defense and is five times the amount that Americans put towards caring for their teeth in 2014. Continue reading →
Across the country, rents are on a continual upward trajectory while wages have remained stagnant.
Americans have risen to meet the challenge of increasing rent in several ways. Living with roommates is the most popular arrangement for people trying to lessen the impact of housing costs on their paychecks. According to Make Room data, among millennials living in Massachusetts in 2013, 13.2 percent reported living with roommates; in Colorado this figure was 11.7 percent, marking a three percent increase from 2008 for the Rocky Mountain state. Continue reading →
Affordable housing has become nothing but a distant memory for thousands of people nationwide. With rising rents, high-demand, and low-supply, states are employing their own tactics to boost the availability of affordable housing.