【Zillow】Despite Cooling Rent Growth, Nearly Half of Renter Households Were Cost-Burdened in 2024

• In 2024, 21.4 million renter households were cost burdened according to a Zillow analysis, up from 20.9 million in 2023. The number of severely burdened renter households rose to 10.9 million from 10.5 million.
• Geography matters. A larger share of renters live in relatively expensive markets, which is partly why those places also tend to have more rent-burdened households.
• There were about 2.79 million Housing Choice Vouchers available in 2024, leaving roughly 18.6 million more cost-burdened renter households than available vouchers.
• The largest gaps are in markets with smaller local voucher footprints, where fewer rent-burdened households likely qualify for assistance and where voucher holders may face additional barriers to actually using a voucher once they receive one.

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