DALLAS (KRLD) - More Texans are "moderately" or "severely" burdened by the cost of rent. A study by the Harvard Joint Center for Housing Studies says almost half of Texas renters are spending more than 30 percent of their income on rent.
The study says the rate of Texans who are renters grew at twice the rate of homeowners from 2008 to 2018. During that time, the number of people burdened by the cost increased from 1.3 million to 1.7 million.
The study considered a "moderately" burdened tenant as a family which spent 30-50 percent of its monthly income on rent. A household which is "severely" burdened spent more than 50 percent on rent.
While the number of apartments in Texas renting for more than $1,400 increased 517,000 from 2008 to 2018, the number of apartments renting for less than $800 dropped by 586,400.
In Dallas/Fort Worth, about 200,000 apartments were added that rent for more than $1,400. The number of apartments renting for less than $800 dropped 237,600.
In North Texas, the study says the median household income among renters is $47,000, and the median rent is $1,140. The study says 492,675 tenants in DFW, about 46 percent of all renters, are "cost burdened."