11M Americans spend half their income on rent

The number of renters spending half their income on rent hit a record high in 2014, according to the newly released State of the Nation's Housing Report from the Joint Center for Housing Studies of Harvard University.

That year, 11 million people were spending half their income on leasing a residence.

Also a record high, 21.3 million people were spending 30 percent or more of their paycheck to cover the rent.

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