Rent on the rise
Demand for rental housing still high
One in three Americans are spending too much on rent
In many of the nation’s housing markets, the rent has gotten too damn high. One out of three Americans now live in a housing market where rent for a three-bedroom home eats up more than 30% of the monthly median income, the traditional threshold for affordability, according to RealtyTrac. And in some cities, residents are doling out a much larger percentage of their paychecks.