The Rent Is Too High In Texas: Over Half Of Us Are Paying Too Much
If you feel like your rent is way too high, you're not alone. 51% of Texans are "cost-burdened" by their rent, according to a new report. That means all those Texans spend over 30% of their monthly income on rent and utilities—and for the severely cost-burdened, over 50%
And then there are those of us who feel trapped- I'd love to move into a larger place, but the amount landlords are asking for even the most mediocre properties is astronomical. I'm just grateful I started renting my apartment a couple of years ago, and that my property manager never raised the rent.
Paying such high rent of course snowballs into other problems, like being unable to afford small luxuries (which help our local economies) or even vital things like clothes and food. And who could save up for a down payment to buy your own home?
The culprit? People flooding in during the COVID-19 pandemic, according to the Texas Tribune. And from what I've observed- there's also the greed of corporations snatching homes, doing the bare minimum to maintain them, and then renting them out at a massive profit, keeping those renters as if by design, dependant on that same corporation in order to have a roof over their heads.
This means that low-income Texans could face eviction or homelessness. Until recently, I had a family of several people living in a one-bedroom apartment above me. While I found the noise irritating, I was still grateful I had the means to live with a modicum of privacy and space.
So what's the solution? More houses. Luckily, Texas was able to pass a law to speed up permitting processes so more housing could be built more quickly. And since Texas losing its shine as a beacon of affordability, perhaps fewer folks will come, leaving those of us here for the long haul a decent place to call home.
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