These graphs show how much harder it’s gotten for Boston renters since 1980
In 1960, about 24 percent of renters in the United States were cost-burdened, meaning they spent more than 30 percent of their income on rent. In 2014, that number increased to 49 percent, according to a recent Apartment List report.
Salaries have been increasing but not nearly at the same rate rents have, especially in Boston.
After adjusting for inflation, Apartment List found that since 1980 Boston rents are up 56 percent, while the median renter income is only up 22 percent.
“The decade from 2000-2010, however, was the worst for renters,” Apartment List writes. Nationally, “they were hit by rising rents (+12%) and declining incomes (-7%), making them significantly worse off overall. That decade was also the only decade in which real household incomes fell.”
There are almost no cities in the United States where incomes are increasing more than rents are, but Boston is especially unbalanced, along with many other coastal cities.
“Expensive coastal cities saw significant increases in incomes,” Apartment List said. “But not enough to keep pace with rising rents. Washington, DC, for example, had a 33% increase in real incomes, but rents rose by 86%. Similar results were seen in San Francisco, New York City, and Boston.”
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