A record number of American renters are spending at least one-third of their income on rents, according to 2023 The State of the Nation's Housing published by Harvard's Joint Center for Housing Studies. A total of 21.6 million households now spend more than 30% of pre-tax income on rent. Some households are even paying even up to 50% of earnings on apartments, per Harvard’s research. Housing experts often suggest tenants spend less than 30% of income on rent.“Housing costs remain well above pre-pandemic levels thanks to the substantial increases over the last few years,” Daniel McCue, senior research associate at...