The Neighborhood Law Clinic at the University of Wisconsin Law School estimates that several million families will face evictions nationwide in 2015.
The reason: across the country rents have risen 7% in the past year while incomes have increased only 1.8%. Traditionally renters spent 25% of their income on rent; according to Zillow that percentage is now approaching 30.
While many will leave “voluntarily” due to the rising cost, others may miss a payment or – according to the Eviction Defense Collaborative – be evicted for a minor violation.
All in all, a tough time for renters; may be time to buy!