"And lack of affordable rental housing," says University of Cincinnati researcher Mike Eriksen, Ph.D.
"Across the largest 50 cities, median rent has increased 175% faster than household incomes," said Eriksen.
"For low and middle income populations in these regions, housing is getting more expensive at a faster rate.".
One subset of the issue Eriksen examines is subsidies—which make up $50 billion in annual federal expenditures.
"With the expected spend on rent being 30% of household income, Cincinnati is actually the most affordable region in the country when you measure the dollar gap between median rent and expected housing spend of a moderate-income household," he said.
Unfortunately, Cincinnati also leads large cities in the percentage of renters considered low-income according to federal guidelines, Eriksen shared.
More information: The report is available online: The report is available online: www.mba.org/news-research-and- … -for-housing-america. »
