If Rent Were Affordable, the Average Household Would Save $6,200 a Year

By Tanvi Misra | CityLab

If renters paid just what they could afford in rent, the average household would have $6,200 a year more in their pocket to spend on groceries, childcare, medical care, and education-things one in five households have been skimping on to make rent. Collectively, that would amount to $124 billion that can help fuel economic growth.

These estimates of the 100 most populous U.S. cities come from a new analysis by the National Equity Atlas-a joint project by PolicyLink and the USC Program for Environmental and Regional Equity. “Renters are the lifeblood of cities,” Angela Glover Blackwell, CEO of PolicyLink, said in a statement. “If rents were affordable, renters could meet their basic needs like transportation, food and child care and contribute even more to thriving communities. This would have a positive ripple effect throughout their regions.”

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