Housing cost burdens for both owners and renters are at record levels, according to the June 20 State of the Nation’s Housing 2024 from the Joint Center for Housing Studies of Harvard University.

For renters with household incomes less than $30,000, 65% spend more than half of their incomes on housing. Renters with the lowest incomes have a median of just $310 per month in residual income to cover all non-housing expenses, the report says. “Given the hardships facing the vast majority of rents with very low incomes, expanding assistance is imperative,” the report continues.

Read the report here.