Richmond, Hampton Roads among most ‘rent-burdened’ places in U.S., report says
Richmond and Hampton Roads are cited in a new report of most ‘rent-burdened’ metro areas in the U.S.
An analysis released by Enterprise Community Partners’ Make Room campaign, which strives to give a voice to struggling renters, says Richmond and Hampton Roads are among the top 10 U.S. metro areas with the fastest-growing share of renters paying unaffordable rent (aka. putting more than half of their household income, before taxes, toward rent and utilities) from 2005 to 2014.
During that decade, Richmond’s share of renter households paying unaffordable rent increased by 6.2 percentage points earning it the No. 2 spot on the list. Hampton Roads’ share of rent-burdened households increased 5 percentage points from 2005 to 2014, placing it in 5th place. The most burdened metro-area during that time frame was Jacksonville, Fla, where renter households paying unaffordable rent went up by 7.2 percentage points.
“The shortage of affordable rental homes is a worsening, nationwide problem that must be addressed,” Angela Boyd, managing director of Make Room, said in a statement. “Focus tends to center around affordability issues in high-density, high-cost coastal cities, but the data shows that mid-size cities across the country have felt the squeeze most during the past decade.”
Enterprise Community Partners is a Columbia, Md.-based nonprofit that creates and advocates for affordable housing.