As a single mom in Denver, Caitlyn Colbert saw her rent for a two-bedroom apartment rise dramatically over the course of a decade, from $750 to $3,374 last year. Like millions of Americans, Colbert was faced with difficult decisions each month, choosing between paying rent or covering important expenses for her children, such as school supplies and groceries.
Data from the Harvard Joint Center for Housing Studies revealed that a record number of Americans are experiencing unaffordable rent increases, especially people of color. Renters who earn less than $30,000 annually have been the most severely impacted, leaving them with minimal amounts of leftover income each month after paying their rent and utilities.
In response to this crisis, state and federal lawmakers are prioritizing housing in 2024 and proposing measures to address the issue, such as eviction protections, zoning reforms, rent increase caps, and significant funding for housing development. With millions of families struggling to pay rent, it is clear that urgent action is needed to provide relief and prevent a housing affordability crisis from spiraling out of control. These efforts aim to keep families like Colbert’s from facing the emotional and financial strain caused by escalating rent costs, eviction threats, and the security of stable housing.