It is already difficult to navigate the highly-competitive US rental market, with a national vacancy rate lower than at any time since 1984. Rent prices have skyrocketed, up a record 17% in just the past year, prompting some priced-out renters to look for a more affordable home when their lease expires.
Sadly, it is that much more difficult, and expensive, for renters of color, a new survey by Zillow finds.
Results from Zillow's Consumer Housing Trends Report show renters of color typically submit more applications—and pay more in application fees—before they secure a place to live than white renters do. Renters of color also typically pay a higher security deposit when they move in.
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