Sunbelt cities are seeing eviction rates soar
Eviction filings over the past year in some Sunbelt cities are up 35% or more compared with pre-COVID levels, according to the most recent data from the Eviction Lab.
In Las Vegas, where the Laus live, eviction filings have soared by 43%.
Part of the issue is increasing rental rates — a recent report from Zillow reveals the typical renter would now need to make nearly $80,000 a year to spend no more than 30% of their income on rent at the average asking price these days. That’s 36% more than they would have required back in 2019 ($58,692).
The other problem occurs when a household experiences a major financial setback, like a loss in income or a medical emergency, that leads them to fall behind on rent.
The Laus say they’ve experienced a string of financial setbacks, including their daughter needing oral surgery, which cost them around $500, and their car getting repossessed.
Discover how a simple decision today could lead to an extra $1.3 million in retirement
Learn how you can set yourself up for a more prosperous future by exploring why so many people who work with financial advisors retire with more wealth.
Discover the full story and see how you could be on the path to an extra $1.3 million in retirement.
Read MoreEviction-related fundraisers are gaining steam
Between March and April alone, GoFundMe saw a 20% surge in eviction fundraisers, with some involving entire mobile home parks that were facing evictions, Newsweek reports.
The Laus have raised nearly $7,400 so far and have paid back nearly $8,000 toward their rent, according to The Wall Street Journal.
They say any additional funds they receive will go toward paying off other bills they’ve fallen behind on, and other necessities like diapers or transportation.
"We are also open to leads on jobs and housing, as well as assistance programs we may not have heard of or tried," they write on their GoFundMe page. "If you know anybody looking for energy work or side/cash jobs please keep us in mind."
This 2 minute move could knock $500/year off your car insurance in 2024
OfficialCarInsurance.com lets you compare quotes from trusted brands, such as Progressive, Allstate and GEICO to make sure you're getting the best deal.
You can switch to a more affordable auto insurance option in 2 minutes by providing some information about yourself and your vehicle and choosing from their tailor-made results. Find offers as low as $29 a month.
