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A recent analysis by the Harvard Joint Center for Housing Studies (JCHS) compared changes in the rental supply at various rent levels with changes in the number of renter households at various income levels. The analysis found that a growing number of low-income renters are competing for a shrinking number of low-rent units. The analysis also found that the rapid growth in high-income renters over the last 10 years has outnumbered growth in high-rent units, and that similar trends are shared by nearly every metro area in the U.S.
