A decade of growth in the rental housing market may be coming to an end, according to the 2017 America's Rental Housing report by the Harvard Joint Center for Housing Studies. The MacArthur-supported report finds that rental vacancy rates are increasing and the growth in renter households that averaged nearly one million annually since 2010 has slowed. The market responded to that growth in demand with expanded supply of high-end apartments, but little new housing affordable to low- and moderate-income renters was created. As a result, nearly a half of renter households are now cost burdened and spending more than 30 percent of their income on housing.
