For a large number of Americans, monthly rent is still outrageously high. So burdensome that handing over the rent check can trigger anxiety every single month.
According to Apartment List’s yearly survey of over 41,000 renters, 18% of tenants were unable to pay all or part of their rent within the past three months. Among low-income renters — those earning under $30,000 annually — 27.5% said they failed to pay the full rent at least once during that same three-month period.
Apartment List’s figures also revealed that 3.3% of surveyed renters have experienced an eviction at some point, and 2.4% were evicted from their most recent home. While these percentages might appear modest, they point to a more widespread issue.
With roughly 118 million renters in the United States today, Apartment List calculates that about 3.7 million Americans have been evicted at some point.
Apartment List housing economist Chris Salviati, who authored the report, observed: “If we assume that some share [of] respondents fail to report informal evictions, this estimate is most likely understated.”
Salviati added that the eviction process can be costly, “making it tough for those evicted to regain stability, and an eviction on record can make finding future housing extremely challenging.”
Earlier Apartment List work has shown that rent has climbed faster than wages. And although coastal regions generally have steeper rents, they also feature more robust job markets and higher median pay that help offset housing costs, Salviati noted. That greater income lowers eviction rates in those places; additionally, rental markets in those coastal metro areas are so tight that people who struggle with rent would likely have difficulty securing an apartment there in the first place.
Apartment List also highlights that eviction rates are especially high in the communities most severely impacted by the foreclosure crisis nearly a decade ago. While we often speak of an improving economy, access to housing in some of those hardest-hit areas remains a significant challenge.
What to Do When the Rent Is Way Too High
If you’re feeling cash-strapped with the first of the month approaching, consider this list of quick ways to earn some money fast.
Unsure where to seek rental help? Call 211. That’s United Way’s helpline offering information on rental assistance and other housing resources. The service is free and confidential.
If you need relief for the coming months, consider getting a roommate. Roommates can bring quirks, and sharing your space isn’t always enjoyable, but if it helps you — and someone else — improve your finances, it may be a worthwhile compromise.
And you can always commiserate with fellow renters. Honestly, rent is too steep for most of us these days.
Maria Chen is a senior writer and producer at Savinly.
