EUGENE, Ore. – A new report shows Eugene renters paid more on rent last year than they could handle.
The new report done by "Apartment Lists" found rent has gone up by 11 percent from 2005 to 2016.
Apartment Lists defines "cost-burdened" as renters spending at least 30 percent of their income on rent. They said nearly half of U.S. renters are cost-burdened and 25 percent are "severely cost-burdened,” spending at least 50 percent of their income on rent. The report reveals 55 percent of Eugene renters were cost-burdened last year.
KEZI spoke to Jim Straub who owns Acorn Property Management. He believes the numbers in the report may be deceiving because of the large amount of college students.
"We live in a metro area but we have 30 plus thousand students that come in and come out of the system,” said Straub. “So they're not high income producing but they do have debt low that's already established so that skews the statistics a little bit."
Straub believes the renters market is actually improving and some rents are going down.
You can find the full report HERE.