PAY FOR RENT OR PAY FOR FOOD?

Renters across the country are struggling to pay their rents. In many cases, it’s because rents are climbing faster than renters’ incomes. An analysis of Census Bureau data by the Pew Charitable Trust shows that in 27 states, the median renter is now spending more than 30% of income on rent, a situation considered “burdensome” by federal standards. That’s a sea change from 2000, when no states were in that position. In Connecticut, the typical renter paid 31.6% of family income in 2013; up from 25.4% in 2000. That’s one of the steepest rates of growth in the nation. Federal guidelines say families paying more than 30 percent of income may have difficulty paying for food, clothing, and other necessities. 

Source: Stateline, 9/29/14, Rent Hikes