Americas rent crisis is creeping up the income ladder and middle-class households are feeling the squeeze

America’s rental affordability crisis is no longer just squeezing the poorest households — it’s increasingly taking a bite out of middle-income earners, too.More than 22.6 million renter households nationwide are spending over 30% of their income on housing, with roughly 12.1 million shelling out more than half their earnings just to keep a roof over their heads, according to a new analysis by Enterprise Community Partners.The findings, based on the US Census Bureau’s 2024 American Community Survey, show that nearly half of American renters are now considered cost-burdened — even as rental prices showed signs of easing in 2024.And while the lowest-income Americans remain the hardest hit, the financial strain is steadily spreading up the income ladder.Renters earning between 60% and 80% of their area’s median income saw a 5% increase in their cost-burden rate compared with the previous year — the largest relative jump among income groups.Meanwhile, households earning between 30% and 60% of area median income experienced a particularly troubling shift: The share spending more than half their income on housing climbed from 34% to 36% in just one year.Even a six-figure salary doesn’t guarantee much breathing room in expensive rental markets.As The Post recently reported, a household earning $100,000 can afford just 801 square feet and one bedroom in the New York metro area, compared with a four-bedroom, 2,119-square-foot home in Memphis, Tenn., on the same budget.For the nation’s poorest renters, the situation is even more dire.Nearly three-quarters of households earning less than 30% of their area’s median income were severely cost-burdened, leaving little room in their budgets for groceries, transportation, medical bills or unexpected expenses.The affordability crunch has persisted despite some relief in asking rents, with the share of cost-burdened households remaining above pre-pandemic levels.Separate research from the Urban Institute found tha...