Study: Which U.S. Cities Have the Most Affordable Rents?
The American Dream is evolving, and many people are rejecting the white picket fences of yesteryear. In 2015, there are more Americans renting their primary residence than at any other time in U.S. history. While the number of renting households rises year after year, homeownership rates fell from 69.2% in 2004 to 63.4% in 2015. Homeownership rates haven't been that low since 1967.
That data comes from a joint report by researchers at Harvard University and Enterprise Community Partners. The researchers also projected that a majority of new households will rent over the next decade, leading to higher demand for apartments for rent.
In big coastal cities, many renters are living paycheck-to-paycheck because the majority of their income goes toward that monthly rent check. A new survey...