The rental market is in a state of crisis. Rents are rising, and the supply of affordable housing is shrinking. This is putting a strain on household budgets and the economy as a whole.

The rising cost of rent is due to a number of factors, including:

Increasing demand: The population is growing, and more people are renting than ever before.

Low inventory: The number of rental units is not keeping pace with demand.

Inflation: The rising cost of goods and services is also driving up the cost of rent.

The shortage of affordable housing is a major problem, especially for low-income and middle-income households. The National Low Income Housing Coalition estimates that there is a shortage of 7 million affordable rental homes in the United States. This means that millions of people are spending more than half of their income on rent, which can make it difficult to afford other necessities like food, transportation, and healthcare.

What can you do?

If you are struggling to afford rent, there are a few things you can do:

• Meet with a FiQ Adviser: A FiQ Adviser can help you create a budget and develop a plan to save money on rent.

• Look for affordable housing options: There are a number of government programs and non-profit organizations that offer affordable housing options.

• Get involved in your community: You can advocate for policies that support affordable housing.

The rental market is a mess, and it's only getting worse. If you're struggling to afford rent, don't wait for help to come. Take action today.

Meet with a FiQ Adviser to discuss your options.

The future of your financial security depends on it.