"Gen Z [is] rapidly forming new households," he said, highlighting the urgency for affordable housing as this generation moves out of their parental homes.
"For renters, the number with cost burdens has hit an all-time high as rents have escalated," which underscores the pressing need for affordable housing solutions.
Despite increased housing stock, McCue emphasized that it remains below pre-pandemic levels, limiting options for potential homebuyers in the current market.
The median rent for two-bedroom apartments is $1,933 nationally, illustrating the financial strain on millions of Gen Z renters as they transition into independence.
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