Nearly half of Houston renters can’t afford to live in their apartment, according to a new national report.
Apartment List, a San Francisco-based online apartment portal, analyzed U.S. Census data from 50 major cities across the country and ranked them by the share of apartment renters who are considered “cost- or rent-burdened.” Apartment residents who spend more than 30 percent of their household income on rent are considered cost-burdened, according to the government.
Nearly half — 49.7 percent — of Houston apartment dwellers were rent-burdened in 2014, the most recent data available from Apartment List. That’s slightly higher than the Texas average of 48.9 percent, but lower than the national average of 51.8 percent.
Read more...Apartment List report: Nearly half of Houston renters live in unaffordable apartments - Houston Business Journal