Joint Center for Housing Studies, Harvard - Modestly priced rental units available for under $800 declined by 261,000 between 2005 and 2015, with most of the loss occurring at the lowest rent levels. At the other end, the number of units renting for $2,000 or more surged by 1.5 million.
The shift in the rental stock toward the high end of the market is also clear from the 32% rise in real median asking rents since 2000, says the report.
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