Rentburdened

Rentburdened refers to a situation where a household spends a significant portion of its income on rent. While definitions can vary, a commonly cited threshold is when a household dedicates more than 30% of its gross monthly income to rent payments. Those spending over 50% are often considered severely rentburdened. This financial strain can impact a household's ability to cover other essential expenses such as food, healthcare, transportation, and savings. Factors contributing to rentburden can include stagnant wages, rising housing costs, limited housing supply, and individual household income levels. The prevalence of rentburdened households is often used as an indicator of housing affordability challenges within a community or region. It can also be linked to increased rates of poverty and housing instability. Policy interventions aimed at alleviating rentburden often focus on increasing housing supply, providing rental assistance programs, and promoting economic development to raise incomes.