How Increasing Renters are Raising Prices

Blocks that say leasingOver the past several years, we have seen a dramatic rise in rental prices across the country, as people are paying more and more to rent property, rather than utilize other housing options. Indeed, this current pricing structure is the highest level of rent-to-income proportions since the 1950’s. Nearly half of all renters are currently paying more of their income than what was traditionally considered affordable (below 30%). Like most rising prices, there is an array of factors that could be contributing to this latest spike, as well as a few that might actually drive it back down. Here is some information about renters and rising prices… (more…)