Rising Rent Prices Force Americans to Adjust Living Situations

A quarter of renters can no longer afford their homes, with Gen Z and older generations alike feeling the pinch.

According to a new study from Intuit Credit Karma, a quarter of American renters say they can no longer afford to pay their rent, and around one in five said they'll have to move back in with parents or friends.
The renter's dilemma is especially pronounced for Gen Z (12-27 years old), as already 31 percent live with their parents and 27 percent say they can't afford their rent.
Intuit Credit Karma showed 57 percent of Americans use the majority of their income on housing costs, with little remaining in their budgets for anything else.
Housing-related prices have soared 7.4 percent even as pandemic-era relief like stimulus checks ended.
Already, hundreds of thousands of Americans have moved out of high-cost areas into more affordable states in the South because they could no longer afford the cost of living.