Amid incessant fretting about millennials shunning homeownership, and on the heels of affordable housing announcements from several cities last week, New York University’s Furman Center released a huge infographic this morning that captures details from its new study on the growing demand for rental units in the U.S.
Quickest summary: In many cities, there aren’t enough places to rent, and salary increases aren’t matching rising rental prices.
Furman looked at housing trends in 11 of the largest metropolitan areas in the U.S.
Here’s a quick breakdown — with parts of the graphic — of some of the most notable numbers.
From 2006 to 2013, the number of major U.S. cities with a majority renter population rose from six to nine.
In many of these cities, incomes lag behind rapidly rising rent prices.
In each of the 11 cities studied, the share of moderate-income earners who are severely rent-burdened increased between 2006 and 2013.
For low-income residents, the situation is more dire.
Jenn Stanley is a freelance journalist, essayist and independent producer living in Chicago. She has an M.S. from the Medill School of Journalism at Northwestern University.