Americans struggling with rent, housing costs, and evictions are at a higher risk of dying prematurely, a new study found.
An individual who allocated at least 50% of their income toward rent in 2000 was 9% more likely to die over the next 20 years. The chance of premature death increases to 12% for an individual who pays 70% of their income to rent, according to a study from researchers at Princeton University and the U.S. Census Bureau's Center for Economic Studies.
The outcomes were worse for people facing eviction. Those threatened with eviction were 19% more at risk of dying prematurely. People who received an eviction judgment were associated with a 40% increase in the risk of death.
"We were surprised by the magnitude of the relationship between costs and mortality risk. It's an especially big problem when we consider how many people are affected by rising rents. This isn't a rare occurrence," Nick Graetz, a postdoctoral research associate at Princeton University and the study's lead author, told CNBC.
"In general, we live under a system that makes it really difficult to retain our housing whenever we experience a problem. A sudden health issue in your family, a car crash, or any other unexpected problem can lead to an eviction in a short time," he added.
The Princeton researchers collaborated with the Census Bureau to create a dataset that allowed them to follow individual renters from 2000 on. The study also analyzed millions of records, including 38 million eviction records, to pinpoint a link between premature deaths and rent burdens.
How To Resolve Rent Burdens and Premature Death?
Rising rents have so far outpaced wages. In 2019, four in five renter households earning below $30,000 were rent-burdened, per the Joint Center for Housing Studies of Harvard University. In September of this year, median asking rents in 50 of the country's largest metropolitans dropped to $1,747, according to Realtor.com's rental report. While that is $29 from the leak in July of last year, it is still significantly higher than pre-pandemic levels.
As a way to address the link between premature deaths and rent burdens, the researchers recommend local governments consider instituting public policies that reduce evictions and guarantee affordable housing. These may include rental vouchers and small-dollar mortgages.
