More than half of San Diego renters are cost-burdened

Posted at 12:14 PM, Nov 09, 2017
and last updated 2017-11-09 15:25:44-05

SAN DIEGO (KGTV) -- A new report found that nearly half of U.S. renters are spending 30 percent or more of their income on rent.

The report also found that nearly one quarter of renters spend half of their income or more on rent.

The share of cost-burdened renters has doubled since 1960, when just 24 percent of renters were burdened in the U.S., according to Apartment List.

RELATED: Rent increases in San Diego due to higher demand, lack of supply

In San Diego, those numbers rose significantly. In 2016, more than 57 percent of San Diego renters were cost-burdened, meaning they spent 30 percent of their income or more on rent. 

San Diego ranked 94 for affordability out of the nation’s top 100 largest metros. From 2005 to 2016, the cost of rent in San Diego rose by more than 14 percent, while renter incomes rose by only 2.3 percent.

Meanwhile, more than 29 percent of renters were severely cost-burdened, spending 50 percent or more of their income on rent.

The San Diego Housing Commission offers a number of affordable housing options. Click here to find out more.  Click here for a rent calculator.