2.7 million renters faced eviction last year
According to Redfin, an estimated 2.7 million Americans faced a home eviction in 2015.
Redfin analyzed more than six million eviction records across 19 states where data was available provided by American Information Research Services, Inc. to predict the number of evictions for each U.S. county as well as the country at large. Redfin also examined the effects of rising home prices at neighborhood and metro levels on local eviction rates. Redfin found that neighborhoods with the highest median rent-to-income ratios had much higher eviction rates (evictions per renter household) than neighborhoods where residents spent less of their income on rent.
“Evictions are a silent threat to America’s cities. As alarming as Redfin’s finding on evictions is, it likely undercounts the true number of families forced out of their homes each year since many evictions happen outside the court system,” said Redfin chief economist Nela Richardson. “More families are renting than ever before, and roughly half of them are spending too much of their income on rent. Stagnant wages, a lack of affordable housing and escalating rents means that many families are living just a paycheck or two away from facing eviction, which can often lead to job loss or even homelessness. This is a national crisis that requires national attention.”