As a result, renters earning the national median income have spent 28.2% of their earnings on a rental. A study of the US property market has found that there is a direct link between the prevalence of affordable rents and homelessness. The study, conducted by Zillow, states that, in areas where individuals are required to spend over 32% of their income on rent, there is a clear correlation with significant rises in homelessness. In other words, if you have enough money to afford your own home, but not much more than this, then you’re going to be living at home for longer periods of time.
A study of the US property market has found that there is a direct link between the prevalence of affordable rents and homelessness. The study, conducted by Zillow, states that, in areas where individuals are required to spend over 32% of their income on rent, there is a clear correlation with significant rises in homelessness. In other words, if you have enough money to afford your own home, but not much more than this, then you’re going to be living at home for longer periods of time.