Even as the housing market is slowly improving – lower mortgage rates, increasing inventory, stabilizing prices – the rents continue to rise, directly impacting lower-income families. Analysts say the country is about 6.8 million affordable units short of what’s currently needed.
Even so, evictions were much lower than anticipated after the federal moratorium on evictions in August, 2021.
Finally, many current renters would be homeowners if they could afford it. Hopefully, as housing conditions improve, renters will be able to buy, thus freeing up rental units.