By Elizabeth Zach, RCAC staff writer

Fewer rentals are within reach for many Americans, but for black and Hispanic would-be tenants, it is even harder to find affordable housing.

According to the real estate website Zillow, an “affordable” dwelling is one requiring the tenant pay 30 percent or less of median monthly income for rent. Zillow, in reviewing available housing starting in 2017, found that black and Hispanic household incomes, compared with white and Asian households, fell below that mark. Across the U.S., just 16.2 percent and 27.3 percent, respectively, of black and Hispanic households could pay for an affordable housing unit. White and Asian households, however, could afford 49.7 percent and 67.4 percent respectively, of rental listings.

Moreover, Zillow observed that “If the typical black and Hispanic households were willing to spend up to 45 percent of their income on rent, they would still have had fewer listings to choose from than the typical Asian household spending just 30 percent of income on rent.”

To read more, go here: https://www.zillow.com/research/rentals-race-affordability-20700/