US housing went up a lot in April nearly $2,000 a month, making it harder for people to afford.
Rising US Housing Rents in the US Pose Challenges for Renters
According to Business Insider, rent in the US housing went up to nearly $2,000 monthly in April making things more challenging for renters. To afford US housing, people need to earn almost $80,000 a year which is much more than in 2019. US housing rent has increased faster than people’s pay over the last five years making it harder for many to afford a place to live.
But there’s a bit of good news, too. More housing apartment buildings being built has slowed down how fast rents increase. Still, the high rent makes it hard for people to buy a house. Even though renting is cheaper than buying many people need help keeping up with rent.
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$2,000 Rent & $80,000 Salary: US Housing Crisis Deepens as Rents Outpace Wages 36%! (PHOTO: YouTube)
US Housing Affordability Struggles Persist for Both Renters and Homebuyers
Furthermore, buying a house isn’t any easier either. There aren’t many houses for sale and getting a mortgage is expensive because of high interest rates. So, whether you’re renting or buying, finding a place to live is becoming increasingly costly, leaving many people struggling to keep up with the US housing costs.
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