The Middle Class Can No Longer Afford Rent In America

All Americans require a nice, secure, and inexpensive place to live in order to prosper. For years, low-income families have battled to find cheap rental properties, but today the middle class is also facing significant difficulties in this area. Due to the sharp increase in rent prices seen in major American cities since the outbreak, millions of middle-class Americans are unable to pay their rent. These middle-class households are being excluded from normal middle-class communities without major income increases or government support, which starts a domino effect that results in systemic poverty and enduring inequality. In other words, middle-class Americans are being squeezed to death by housing costs.
Compared to just two years ago, the average home now costs approximately $80,000 more, and the average rent in the US is over $1,000 more than it will be in 2020. The survey discovered that while middle-class renters' salaries have decreased 9% over the past ten years, rents are rising on average by 3.5% yearly. The American middle class has been spending far more on housing than they can afford in the majority of urban areas across the nation, researchers found. According to the survey, 46.3% of middle-class renters and 21.2% of middle-class homeowners in the US, respectively, are moderately or severely burdened by housing costs, which are defined as spending more than 30% or 50% of one's salary on housing.

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[kortyEdna]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[azieltobias]

I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.

[alexm.]

Almost 50% of my income goes to rent. It’s literally insane.

[airmanma]

We'll all be living in tents soon. Better get one before even those are unreachable.

[Mitzi]

I spent 20 years paying 40-45% of my income to housing. My daughter and I moved in with my parents. One strong household is better than two weak ones. It is a shame what this world has turned into.

I hope one day to buy a place where I can garden.

[JohnDoe-wykh]

I have two teenage daughters and a five year old son. I told them that there’s no expectation for them to move out, because it’s going to be impossible for them to find a place to live, unless they have stranger roommates. The American Dream is, and has been dead for a while. Now it’s a nightmare.

[HodgeChris]

I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.

[Eli-phunt]

This country has gone insane, average people can't even pay rent with 2 incomes, not if they want to eat anyway. I was lucky to inherit a home but almost the day I did I found I was developing a serious lung condition due to breathing asbestos and other particulate on the job. Now, even with SSDI help I can't afford to keep the house, I'm pissing away my life savings trying to do so and survive at the same time.

[TheMobileNest]

It’s insane. My mother, sister and I are seriously looking at houses that the three of us can buy together. We are always together anyway and each paying separate rent to other landlords. I’m paying $2, 500 where I live and that’s considered inexpensive for a 1-bedroom 😳😬So over it. Looking into first time homebuyers programs to get started.

[personalrocket]

I think any country needs to think about its population first, then to send money to “support other countries”

[michaelbest]

Being forced out of the middle-class lifestyle has been going on for decades. A NEW 3 bedroom, 1 bath house back in the early 1970's in Massachusetts cost my parents 38, 000. The same type of (used) home today sells for over $400, 000. In 1997, what did I buy for $38.000? A used, 3 Bedroom, 2 bath MOBILE HOME! Now, similar mobile homes around me are selling for over $200, 000! Ridiculous! Has my paycheck risen equally? No. The rich get richer. The middle-class get poorer and we're seeing much more of that now. I earn just over 50, 000 a year, and now I'M considered a "low-income earner, " and in some ways I'm treated differently, socially, by others, because of where I live. I can share many examples of how I've been treated, but many like me know what I'm talking about.

[TheItalianKid]

So what are we gonna do about it? Everyone says the same thing but no one wants to do anything about it..

[miyeyoo]

I was so excited to get my offer letter so I could move out of my parents home. It was above what I thought I would get and now I’m smacked in the face with the realization I can’t afford to move out still 😂

[Kennyk]

Been living in my car all year. Trying to get comfortable with it and accept it as the new reality.

[shawnPATSFAN]

The answer to this amazingly huge problem is very simple ... Take investor money out of residential resale real estate of four units or less ....

[jorged]

Let me understand

2008: Banks created the economic crisis, so the government rescued them with society's money.
Currently (2023): fifteen years later, banks are owner of the houses and they are renting to the society with highest cost?

[HospitalForSouls.X]

This is what I've ended up doing....I taught myself survival, got rid of my house and car, and dropped from full time to part time work. Now I just live outdoors and walk everywhere, but I have the money to eat a rich, balanced diet, buy whatever clothes I want and I can get little treats for myself. It's so much better this way

[wendysbaconator]

I make $31.14 an hour in California, don’t even meet the minimum income to rent a studio. Homes are $1, 000, 000.

[andyhughes]

An adequate place to live is not a luxury.

But when people can no longer afford even a simple place of shelter, this is when society collapses.

Look around you - homelessness everywhere, anger that leads to shootings in school, road rage, looting, armed chaos.

It's already happening.

[chrysiarose]

One problem is that we are now living more and more as single people - single people who all want their own place, instead of families living together. And the majority of houses were designed for families. So now more housing is needed for each single person, instead of housing for two or more people.