America's Rental Housing 2024

Climbing rents in recent years propelled US cost burdens to staggering new heights: in 2022, half of all US renters were cost burdened. This all-time high of 22.4 million renter households spent more than 30 percent of their income on rent and utilities. And while rental markets are finally cooling, evictions have risen, the country is seeing the highest homelessness counts on record, and the need for rental assistance is greater than ever.

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Renter Cost-Burden Shares Remain High

Cost Burdens Climb the Income Scale

Homelessness Rising Across the Country

Low-Rent Supply Is Shrinking

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For interview requests or additional information, please contact:
Kerry Donahue, Director of Communications, (617) 495-7640, kerry_donahue@harvard.edu

Principal funding for this report was provided by Wells Fargo.

Thank you to the advisory group for this year’s report: Center on Budget and Policy Priorities, Council of Large Public Housing Agencies, Enterprise Community Partners, Freddie Mac, Housing Assistance Council, Mortgage Bankers Association, National Apartment Association, National Council of State Housing Agencies, National League of Cities, National Low Income Housing Coalition, National Multifamily Housing Council, and the Urban Institute.

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