As rent increases and inflation take their toll, Americans are struggling to pay for regular household expenses, according to recent survey data from the U.S. Census Bureau.
At least 57.4% of respondents to a household survey said they experienced some level of difficulty in paying their usual household expenses over the past seven days.
The survey is regularly conducted in a few-month cycles to gauge how typical households are performing throughout the year.
With housing still not considered affordable despite slightly lower mortgage rates, 37.9% of survey participants reported feeling some likelihood of possibly being evicted from their homes.
This is exacerbated by the spikes in rent many Americans have received in the past year. Respondents mostly said their rent increased in the range of $100 to $250.
While a surge in new multifamily rental units slowed rent growth a bit, according to Harvard University's Joint Center for Housing Studies State of the Nation's Housing 2024 report, rents are still rising and remain elevated because of the COVID-19 pandemic-era rent surge.
Even if tenants can pay their rents now, these increases, as well as possible additions to rent going into the new year, could give renters more reason to be worried about eviction in the future.