When Rents Rise, So Does Homelessness
Statista: When Rents Rise, So Does Homelessness Jul 11, 2024 According to a Pew Charitable Trusts study, rising rental prices are directly linked to an increase in homelessness in the United States. The analysts write that while homelessness often has several contributing factors - such as substance use disorder, mental health, weather, the strength of the social safety net, poverty, or economic conditions - none are as impactful as the role of high housing costs. The U.S. Department of Housing and Urban Development’s homelessness data and Apartment List rent data from 2017 and 2022 shows that of the six metro areas where homelessness increased the most, rents had also risen faster than the national average. These were Sacramento, Fresno, Raleigh, Phoenix, Austin and Tucson. Meanwhile, four areas that saw declines in homelessness also saw below-average increases in their median rents. The writers of the report explain: “There are still places in the U.S. where levels of homelessn...