Nationwide, about 22 million renters are cost burdened, spending over 30% of their incomes on rent and utilities, which limits spending on essentials like food and medical care.
Three swing states—Arizona, Nevada, and Georgia—saw significant increases in renters spending over 30% of their incomes on housing, highlighting a wider affordability crisis.
In Arizona, soaring rents of 40% to 60% have exacerbated the issue. Eviction filings have spiked dramatically as renters grapple with rising costs and limited affordable options.
The housing shortage in states like Arizona and Nevada, coupled with low wages, showcases an urgent need for expanding affordable housing to alleviate cost burdens on renters.
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