By Ashlea Ebeling | Forbes
There’s a rule of thumb that you should ideally pay no more than 30% of your income on rent, but in fact nearly 12 million households in the United States pay more than half their income on rent. That puts them in the troubled category of being “severely cost-burdened renters,” a group that has been growing in numbers over the last 15 years and is likely to continue to grow over the next decade. That’s the “depressing” news from Projecting Trends in Severely Cost-Burdened Renters: 2015-2025, just released by the Center for Housing Studies of Harvard University and Enterprise Community Partners.
