A disturbing revelation has emerged from a recent study published in the esteemed journal Social Science & Medicine: a grim correlation between unaffordable housing costs and premature death.
Researchers from Princeton University, in collaboration with the US Census Bureau’s Center for Economics Studies, uncovered the startling trend that sheds light on the life-threatening consequences of exorbitant rent burdens.
The study’s findings present a chilling reality: Individuals allocating half of their income toward rent in 2000 faced a staggering 9% higher likelihood of passing away over the subsequent two decades, compared to those directing only 30% of their income toward rent.
Moreover, those grappling with a staggering 70% of their income devoted to rent saw a harrowing 12% increase in their risk of premature death over that time period.
Nick Graetz, the lead author of the study and a postdoctoral research associate at Princeton, expressed astonishment at the profound link between housing costs and mortality risk.
Graetz told CNBC, “It’s an especially big problem when we consider how many people are affected by rising rents. This isn’t a rare occurrence.”
The escalating rents, far outstripping wage growth, have left the average American renter allocating 30% or more of their income solely to housing expenses.
In 2019, a staggering four out of five renter households earning below $30,000 grappled with the burden of unaffordable housing costs.
Utilizing a comprehensive dataset in collaboration with the Census Bureau, the Princeton researchers meticulously tracked individual renters from 2000 onward.
Their analysis of millions of records unveiled a distressing nexus between rent burden, eviction threats and mortality rates among individuals.
The study’s revelations extended beyond the mere financial strain of unaffordable rent.
Facing eviction threats alone was associated with a daunting 19% surge in the risk of premature death.
Moreover, receiving an eviction judgment translated to a chilling 40% escalation in the likelihood of facing mortality.
Graetz emphasized the pivotal role of housing in American families’ budgets, highlighting the trade-offs they’re forced to make when confronted with soaring rents.
“As rents go up, families cut back on other spending, including on essentials that affect their health,” Graetz told the outlet.
The repercussions are dire.
Struggling households, burdened by moderately high rent expenditure, curtailed healthcare expenses by a whopping 57% and reduced spending on food by 17% compared to unburdened counterparts, especially impacting households with children.