Evictions Surge as Renters Struggle with Rising Costs and Reduced Protections
Major cities, especially in the Sun Belt, are seeing eviction rates surpass pre-pandemic levels, driven by high rents and the end of Covid-era support.
- Eviction rates have increased significantly in cities like Houston, Phoenix, and Las Vegas, with some seeing rises over 40%.
- The expiration of Covid-era renter protections and surging rental costs are major contributors to the spike in evictions.
- Many low-income renters are now 'cost-burdened,' spending over 30% of their income on housing.
- Cities with fewer renter protections, like those in the Sun Belt, are experiencing the most severe eviction crises.
- Experts warn that ongoing inflation and high interest rates will continue to exacerbate housing affordability issues.