Housing got less affordable during the pandemic, hitting renters harder than homeowners
More than 17% of Coloradans are renters. According to an analysis from Headwaters Economics, a Montana-based, independent think tank, the largely unprecedented growth in housing costs over the last year has impacted renters more than homeowners. This is especially the case with housing unaffordability.
Of the counties across the U.S. that are experiencing housing cost increases this year, 92% were already unaffordable for renters before the pandemic, whereas just 18% were considered unaffordable for homeowners. Megan Lawson, an economist with Headwaters Economics, and author of that analysis, joined us to explain that gap, and how things got to this point.