A decade of unprecedented growth in the rental housing market may be coming to an end, according to the Joint Center for Housing Studies of Harvard University 2017 America’s Rental Housing report. Fewer new renter households are being formed, rental vacancy rates have risen, and rent increases have slowed. At the same time, renter demographics are changing and nearly 21 million households continue to pay more than 30 percent of their income for rent.
The number of apartments deemed affordable for very low-income families across the United States fell by more than 60 percent between 2010 and 2016, according to a new report by Freddie Mac.