The balance between affording food and basic health care for your family and making rent each month is getting harder to find.
A new study from Harvard Joint Center for Housing Studies shows that many counties across the country have higher rental rates, which leaves tenants shelling out 40 percent of more of their income to cover costs, Jonnelle Marte reported for The Washington Post.
This is compounded by issues that many face when affording a home, Angela Boyd, vice president of an organization that advocates for affordable housing, explained.
Youre looking around and saying I cant afford to buy a home, and I also cant afford to rent one of these luxury apartment buildings, Boyd said.
According to Forbes, the lowest-income people spend 17 percent of their paycheck on transportation, 12 percent on food, 8 percent on health care and 4 percent on education. While the numbers do shift slightly as income increases, they stay relatively similar.
With such high rents and so many bills to be paid, there arent a lot of options left over.
Look at the map from Harvard Joint Center for Housing Studies below to see how your home state compares.
A new study from Harvard Joint Center for Housing Studies shows that many counties across the country have higher rental rates, which leaves tenants shelling out 40 percent of more of their income to cover costs, Jonnelle Marte reported for The Washington Post.
This is compounded by issues that many face when affording a home, Angela Boyd, vice president of an organization that advocates for affordable housing, explained.
Youre looking around and saying I cant afford to buy a home, and I also cant afford to rent one of these luxury apartment buildings, Boyd said.
According to Forbes, the lowest-income people spend 17 percent of their paycheck on transportation, 12 percent on food, 8 percent on health care and 4 percent on education. While the numbers do shift slightly as income increases, they stay relatively similar.
With such high rents and so many bills to be paid, there arent a lot of options left over.
Look at the map from Harvard Joint Center for Housing Studies below to see how your home state compares.
