America's Rental Housing 2022

Rental housing demand came roaring back in the second year of the pandemic, reducing vacancy rates and driving up rents. Some of this rebound reflects the lack of inventory in the for-sale market, which has prevented many higher-income renters from buying homes. At the same time, lower-income households that took the brunt of job losses during the lockdown still struggle to make rent, reinforcing the stark divide between higher- and lower-income households. While unprecedented levels of federal assistance have helped keep evictions down, the need for a permanent, fully funded housing safety net is more urgent than ever, and a key element of that support must be to protect existing rental housing from the threat of climate change.