Housing Crisis In America 2024 Report. In recent years, the combination of a housing shortage, inflation, and higher interest rates increased the cost of both rental and purchase housing faster than wage growth, leading to higher percentages of consumers paying more than 30% and even 50% or more of their income for housing. In 2022, half of all us renters were cost burdened.

Our new report america’s rental housing 2024 examines the state of rental housing in the us, including the critical affordability and policy challenges facing the nation. Amid these circumstances, about half of americans (49%) say the availability of affordable housing in their local community is a major problem, up 10 percentage points from early 2018, according to a pew research center survey conducted in october 2021.