Housing Rent Increases Across the United States

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Casper- (KCWY) "If you look at the waiting list for section 8 vouchers it is a long, long list, a couple years,” said Casper City Councilman Keith Goodenough.

Much of this list is made up of those stuck in the middle between low income housing for which they don't qualify and paying for expensive rental properties that would break their bank.

"The amount they pay for rent is a lot more or the same as purchasing a home sometimes,” said Diego Nicholas, a Broker One Realtor.

According to Realtytrac 1 out of every 3 Americans now live in a housing market where renting a three bedroom home costs thirty percent or more of their monthly income, and in Casper it's expected to be even more.

"People who are minimum wage or close to it, it is too high and there are many people that I’m sure are paying 50 percent or more per month for housing,” said Goodenough.

With new businesses opening and bringing more people into Casper Goodenough says prices will continue to stay high. Casper's chamber of commerce executive director claims she hasn't heard any negative feedback about rental options in Casper, but says more are needed.

"I think it makes it just a little less attractive because everybody needs to have a place to rest their head in the evening correct after a long day of work, but I think the community as a whole is doing a really good job at addressing that,” said Glinda Lara the executive director of the Casper Area Chamber of Commerce.

Across the US, years of economic uncertainty and the foreclosure crisis turned many homeowners into renters. The market has also kept many renters from jumping back into home ownership pushing rent up over 20 percent since 2006.

:"A lot of people did do renting, but now that more people are moving here all the time renting is just kinda expensive compared to just purchasing,” said Nicholas.