How Big Is The Rent Affordability Problem?
1 like223 views
Moderately Burdened households are those paying between 30% and 50% of their household income towards rent, while Severely Burdened households pay 50% and up.
How Big Is The Rent Affordability Problem?
- 1. HOW BIG IS THE RENT AFFORDABILITY PROBLEM? Moderately Burdened households are those paying between 30% and 50% of their household income towards rent, while Severely Burdened households pay 50% and up. About 25% of households in small properties fall in the Moderately Burdened category, slightly higher than the 24% share in large properties. Measuring renters that are severely burdened, the share is slightly higher for households in large properties (30%) than small properties (28%). Moderately Burdened Renters by Household Income 0% 13% 25% 38% 50% > $15,000 $15,000- $29,999 $30,000- $44,999 $45,000- $74,999 > $75,000 Small Assets (5-49 units) Large Assets (50+ units) Severely Burdened Renters by Household Income 0% 20% 40% 60% 80% > $15,000 $15,000- $29,999 $30,000- $44,999 $45,000- $74,999 > $75,000 Small Assets (5-49 units) Large Assets (50+ units) Share of Severely Rent Burdened Households in the Top 20 Markets 20% 25% 30% 35% 40% Phoenix Dallas Minneapolis Detroit Miami WashingtonDC SanFrancisco Philadelphia Portland Denver Boston Tampa Chicago SanDiego USAverage Houston Seattle NewYork Baltimore LosAngeles Atlanta Small Assets (5-49 units) Large Assets (50+ units) Small balance multifamily loans are typically between $1 million and $5 million. Chandan Economics de鍖nes small-cap properties as 5 to 19 units, mid-cap properties as 20 to 50 units, and large-cap properties as larger than 50 units. Both small-cap and mid-cap properties can fall into the small balance spectrum. Source: American Community Survey; Chandan Economics See the full report on ALEX Chatter here: www.arborloanexpress.com/chatter