Yellow Pages |   News Updates |   Local Jobs |   Events Calendar |   Movie Times |
Rocklin and Roseville Today Local Events Calendar
    (Independent and Locally Owned)

How Much Rent Is Too Much?





The housing market correction or foreclosure crisis has turned millions of former homeowners into renters. 

Followed by years of economic uncertainty, which has kept potential buyers from leaving their rentals and making the move into homeownership, the demand for rental housing and has helped push rents up more than 21 percent since the housing market peaked in 2006.

According to a recent study by RealtyTrac, one out of three Americans now live in rentals were the monthly rent consumes more than 30 percent their monthly income which is the traditional measure of affordability.  The study also says, many are paying out a much larger percentage of their pay.

During this time renters have been getting squeezed on income after inflation, which has fallen 14 percent over the past six years.  The study found that nearly 25 percent of renters were paying more than 50 percent of their income in rent, forcing some to make significant reduction in spending on food, health care and retirement.

I don't have specific numbers to compare these national studies with our Sacramento area but we do know the level of foreclosures and short sales were high for our area and the demand for rental property has increased.  Because our housing has, typically, been more affordable than other urban areas I suspect the number of renters paying over the 30 percent threshold is lower than the national average but still an issue here.

Unaffordable housing or being "house poor" restricts us.  When too much of a paycheck is devoted to housing it can reduce or eliminate opportunities including spending money to go back to school or saving for a down payment on a home.

If you have any questions or comments about today's column, I would love to hear from you.  I can be reached at the MagnumOne Realty office in Roseville (916-899-6571) or by sending an email to juliej@jalone.com.

Print

Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.

Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento



Placer County News Headlines

3 Teens Arrested in Burglary and Vandalism of Country ClubA Placer County Sheriff's detective apprehended three juveniles Thursday in connection with recent burglaries and acts of vandalism at the Auburn Valley Country Club.

Roseville Author Releases New Book NationwideROSEVILLE, Calif. - The new book "Resonance," a stimulating new book by Roseville author Emily Elaine is now available nationwide.

Genderally Speaking LGBTQ Exhibition in RocklinRocklin, CA--The Ridley Gallery presents "Genderally Speaking", photography by Ron Williams in conjunction with Sierra College Pride Days (November 4-6).

Rocklin History Series Presents Julia Morgan's GoldThe Rocklin History Series continues on November 16, 2014 with a live presentation by Julia Morgan Historian Karen McNeill Ph.D. at 2 pm at the beautiful Old Saint Mary's Chapel

Free Identity Theft Prevention Class in AuburnThe Placer County Sheriff's Office is offering a free identity theft prevention class on Monday, October 27, from 6 to 8 p.m. at the Auburn Justice Center.

Loomis Students to Learn About Pediatric Iron Lung for World Polio DayIn recognition of World Polio Day, Rotary Club of Sunset Loomis will bring a pediatric iron lung to Loomis Grammar School and Loomis Basin Charter School

Esteemed Roseville Historian DiesLeonard "Duke" Davis, considered by many the foremost authority on the history of Roseville, passed away on Friday, October 10.

Michaels Store in Auburn to Open November 16thMichaels, North America's largest arts and crafts specialty retailer, announces the grand opening of its new Auburn store, featuring an inspiring new design, located at 2785 Bell Rd

Janina VanVooren at Patrons Club November 3rd Rocklin, CA - The Patrons Club, a volunteer arm of the Sierra College Foundation, invites the public and those interested in becoming members of the organization to attend

Roseville Men's Tennis Team Edged Out in National ChampionshipsThe men's tennis team from Roseville, Calif., representing the USTA Northern California Section, finished second at the USTA League Adult 18 & Over 2.5 National Championships

Dermatomyositis: Woman Battles Weakness, RashIn 1993, and only two weeks after having given birth to her second child, Becki Lanser of Cary, North Carolina, was experiencing severe muscle weakness and fatigue.

Jeep Grand Cherokee: More Refined Than EverA 2014 "refreshening" has given the Grand Cherokee a more modern, sophisticated look that will have admirers giving it the double take.


more news