By Allison Charette, Research Analyst & Felicia Kiefer, Intern
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- An analysis of Federal Reserve Economic Data (FRED) reveals that America is quickly heading toward a rental housing crisis. Since the financial crisis, the number of occupied rental units has increased, the number of vacant rental units has steadily fallen, as has the vacancy rate. As a result, the cost of rent has gone up significantly. Currently, half of all renters are paying more than 30 percent of income on rent while 28 percent are paying more than half of income on rent. (The Atlantic City Lab, June 30)