It shouldn’t surprise anyone that there’s a correlation between high rents and homelessness. However, there are four main areas where the effects are most prevalent.
In New York, Los Angeles, Seattle, and Washington D.C., the homeless rate tends to rise as rents increase. According to a study from Zillow, even a 5% increase in median rents may lead to 2,000 or more new homeless.
Not surprisingly, large urban centers are more prone to the effects. As rents continue to increase around the country, the issue could become larger.
Some cities, such as Houston have taken extra steps to combat the issue before it becomes a crisis.
Houston has solved much of its homeless problem by providing housing. If the average rent in Houston climbs 5 percent, the area will see just 120 more homeless people – a remarkably small predicted increase for the country’s fifth most populous area, which as recently as 2010 had a high rate of homelessness.
What To Do?
The rising cost of living is only illustrating the relationship between rents and homelessness. In some areas, like San Francisco, residents have taken to exploring alternative living conditions to stay afloat.
Still, others are fleeing high-tax and high-rent states in search of a better life. That’s where City vs City can help! Our powerful cost of living calculator compares the costs in your current city with another one of your choosing.
If you’re looking to get out of a tough spot, download the City vs City app and see where you can get the most bang for your buck!