Related storiesIn Florida, there are five metro areas where more than 60% of renters are cost-burdened.
Two Pennsylvania metro areas were in the top 10 for the highest percentage of cost-burdened renters: State College and East Stroudsburg, at 63% and 61%, respectively.
According to the Harvard report, 45% of renters in Stillwater, Oklahoma, are severely cost-burdened, the highest percentage in the nation.
AdvertisementCorvallis, Oregon; Port St. Lucie, Florida; and State College, Pennsylvania, are the three metro areas that are in the top 10 for both cost-burdened and severely cost-burdened renters.
Home prices and mortgage interest rates have surged in recent years, putting homeownership out of reach for even more renters.
Persons:
—, Alexander Hermann, erelman@businessinsider.com
Organizations:
Service, Harvard Joint Center for Housing Studies, Business, Harvard, Harvard's, for Housing, State College, East, State College ,
Locations:
Naples , Florida, Corvallis , Oregon, Florida, Naples, Marco, Port St, Lucie , Florida, Pennsylvania, East Stroudsburg, Stillwater , Oklahoma, State College , Pennsylvania