Many Connecticut renters feel stuck renting
Caring for Connecticut means caring about opportunity
It used to be that if you worked hard, saved your money – and maybe rented for a bit to lower costs – you’d have a chance at owning a home. But when the cost of rent, groceries, and the essentials keep going up, that dream is becoming harder to achieve for Connecticut’s working class.
“I want to buy a home for my family,” Jessica, in Windham County, told us. “We have been homeless quite a few times in our lives. I want to have a home that my children feel safe and stable [in].”
But many people have told us they feel like they don’t have an opportunity to buy a house due to the rising cost of rent, which doesn’t leave room to save, and the rising costs of buying homes and paying for everyday essentials.
Renters are a growing population in Connecticut, and not all renters want to stay where they’re living. About half of people polled said they want to own a home, but are worried they’ll never be able to afford it, according to data from The Connecticut Project Action Fund.
We’ve spoken to thousands of people across the state about their struggles with the price of homes and apartments. One common theme we’ve heard is that people dream of buying a house, but don’t think they’ll ever be able to afford one.
“I would prefer to own,” Donna, in Shelton, told us. “However, given the lack of inventory, the current economy, and the cost of living in CT, it’s unlikely that I would be able to afford purchasing a home here.”
Others have said the rising cost of living has forced them to sell their home and rent.
“I was fortunate enough to buy my childhood home, for a good price, from my parents’ estate when they passed away, but because the taxes keep going up, it has become unaffordable for me to stay here,” Tara, in Hamden, told us. “I may lose my home. Not only are the taxes going up, but the cost of everything else is through the roof making it even harder to afford to live.”
There are fewer houses available to buy than in the past. Homes are being gobbled up by out-of-state corporate landlords who turn them into rentals, or artificially inflate the price of houses in an area, making it even harder for hardworking people who live here to have a fair chance.
Companies, not people, are getting opportunities to buy houses, with more than one in 20 homes in Connecticut owed by private equity firms. State and local lawmakers need to respect and care for renters by looking at ways to boost renters and make homes and rent more affordable for the people who vote here, keep businesses afloat, and contribute to our charm and economy.
There aren’t enough affordable homes. The price of houses is going up because there aren’t enough available in Connecticut. When prices increase on the essentials, and you can’t save for the future, the dream of being a homeowner gets more out of reach.
Ashley, in East Windsor, works overtime to try and make ends meet. Even then, she said, “it’s almost impossible to break even.” She recently had to move because she could no longer afford her rent after her landlord raised it again.
“I would love a house one day, maybe start a family, but it doesn’t seem feasible at all,” she told us.
Connecticut lawmakers need to value the voices of renters. The state needs to have affordable housing so that the people who make our communities work aren’t forced to move out of them. Our neighborhoods won’t be the same if children are forced to change schools, people have to move away from their support systems, and businesses lose their employees because they can’t afford to live here.