October Arch Fact

The United States’ housing market is at its least affordable in a decade. An October report by the Urban Institute found that 1 in 4 rural renters spends more than 50 percent of their income on rent. And the Harvard Joint Center for Housing Studies found that in 2017, nearly half of all renters across the country were rent-burdened, spending about a third of their income on housing, thanks to high construction costs, restrictive zoning laws, and a shortage of private, low-cost housing.