Thursday, November 09, 2017
TKC EXCLUSIVE FACT CHECK: RATE OF KANSAS CITY 'COST-BURDENED RENTERS' REACHES ALL TIME HIGH!!!
Affordability has always been a selling point for Kansas City but now a spate of luxury development without salary increases offered by local employers has driven up housing costs to levels that are unsustainable for most local workers.
Our reporting partners research reveals . . . "Nearly half of U.S. renters are “cost burdened,” spending 30 percent or more of their income on rent. A staggering one-quarter of renters are "severely cost-burdened," spending 50 percent or more of their income on rent. The share of cost-burdened renters has doubled since 1960 when just 24 percent of renters were cost burdened."
"19.5% of Kansas City renters were severely cost-burdened in 2016, spending 50% of more of their income on rent."
Read more on this national implications of this study.
Developing . . .