1、2024AMERICAS RENTAL HOUSING JOINT CENTER FOR HOUSING STUDIES OF HARVARD UNIVERSITY AMERICAS RENTAL HOUSING 2024 Joint Center for Housing Studies of Harvard UniversityHarvard Graduate School of Design|Harvard Kennedy SchoolTABLE OF CONTENTS1.Executive Summary.12.Renter Households.93.Rental Housing St

2、ock.174.Rental Markets.265.Rental Affordability.346.Rental Housing Challenges.427.Additional Resources.51ONLINE TABLES AND EXHIBITS www.jchs.harvard.edu/americas-rental-housingPrincipal funding for this report was provided by Wells Fargo.2024 by the President and Fellows of Harvard College.The opini

3、ons expressed in Americas Rental Housing 2024 do not necessarily represent the views of Harvard University or Wells Fargo.EXECUTIVE SUMMARYRental markets are finally cooling as a decades-high volume of new supply has come online,outpacing demand.Nevertheless,more renter households are cost burdened

4、than ever before,and a record number of people are experiencing homelessness.Pandemic resources temporarily shored up the housing safety net,but the need for rental assistance remains greater than ever.Additionally,the aging rental stock requires significant investment to address structural inadequa

5、cies,inaccessibility,and climate risks.Making these investments is challenging,given the current market environment of increasing operating expenses and high interest rates.Despite todays difficult conditions,strong demand from the Gen Z,millennial,and baby boom generations should ensure that the re

6、ntal market slowdown is short lived.Rental Markets Are SofteningRental markets are rapidly cooling after a period of significant overheating.Rent growth has almost completely stopped,following historically high rent increases in both 2021 and 2022.In the third quarter of 2023,rent growth plummeted f