New report shows number of affordable rentals lower than people searching

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by KMOV.com Staff

KMOV.com

Posted on August 20, 2013 at 6:58 PM

 (KMOV) – A new report showed the amount of affordable housing options is far less that the number of people looking to rent.

The new numbers show that the 154,000 people in the St. Louis area are “cost-burdened” which is up 16-percent.

“Cost-burdened” means residents are paying at least 30-percent of your income on rent and utilities.

Experts say to ask for a longer lease, a lot of the time landlords will offer a lower rate if the tenant plans to stay longer.

Also, if the landlord will not budge on rent, see if they will throw in other perks such as free parking, or lower utlity costs.

Lastly, find out what other people in the area are paying for rent. Sites like “Rent-O-Meter” can help in checking to see if a tenant is paying too much. 

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