Business Report: Cost burdened renters - Hawaii News Now - KGMB and KHNL

Business Report: Cost burdened renters

HONOLULU (HawaiiNewsNow) -

A "cost-burdened renter" spends 30% or more of income on rent.   This is a fairly new term, with a specific meaning. Since the recession, for the first time ever, that was more than half of all U.S. renters. The current, down slightly from its peak, is still almost 52%.

You won't be surprised Hawaii is at the high end of this. But so is California, Oregon, New York and Michigan. And most of the South.

It's less of a problem is the nation's most rural states.

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