Zillow Says 54.1% of U.S. Renter Families With Children Are Rent-Burdened
Updated
Updated · Arizona Big Media · Aug 14
Zillow Says 54.1% of U.S. Renter Families With Children Are Rent-Burdened
2 articles · Updated · Arizona Big Media · Aug 14
Summary
54.1% of U.S. renter families with children spend more than 30% of income on rent, above the 49.7% share for all renters, Zillow and StreetEasy said from Census survey data.
31.7% of family households with children rent their homes, but family-sized options are scarce: 37% of July listings had two bedrooms and 24.4% had three or more.
Miami shows the squeeze even for higher earners: 67% of renter families are burdened there, where median family income is $100,000 and a two-bedroom rental costs $31,200 a year.
New York City has the highest share of renter families at 66.7%, yet only 48.1% of July listings had multiple bedrooms; 53.4% of renter families there were burdened as two-bedroom rent hit $57,000 annually.
Zillow ties the pressure to a 4.7 million-home deficit from years of underbuilding and says zoning limits and permitting delays are blocking more multibedroom rentals.