The housing affordability crisis is no longer simply about paying a high rent, it’s even reshaping how Americans live, work, save, and plan for the future.

Here at SpareRoom, we ran a survey to find out what sort of sacrifices US renters are making in order to be able to make rent, and 669 people took part.

Many told us they’re making significant financial and personal compromises to keep a roof over their heads, from taking on debt and working additional jobs to delaying healthcare, homeownership, and retirement savings.

Here’s what roommates told us...

Within the past 12 months

87% have seen their rent rise
54% have moved because their rent became unaffordable
57% are spending at least half of their take-home pay on rent; a quarter are spending 70% or more
73% haven’t been able to save any money
55% have dipped into savings to cover their rent or bills

The survey also found that the impact of high housing costs extends well beyond renters’ bank accounts to mental wellbeing, while affordability pressures are influencing where people live, their housing quality, their relationships, and even when they seek medical care.

31% have moved to a less desirable neighborhood, while 15% have moved farther from work
45% say the quality of their housing has declined as a result of affordability pressures
29% say high housing costs have prevented them from dating within the past year
33% say high housing costs have forced them to delay medical care within the past year
61% say high housing costs have affected their mental wellbeing within the past year

Matt Hutchinson, director of SpareRoom, says:

“When so much income is going toward keeping a roof over your head, there is less room for everything else: saving, planning, moving for a better opportunity or simply having the flexibility to deal with unexpected expenses. These findings show the very real trade-offs renters are forced to make every day.”

More than three quarters (76%) of the US renters who took part in our survey told us they have turned to credit, loans, second jobs and other financial sources of help to make rent in the past year. But are there any other ways to reduce the cost of renting?

How to cut the cost of renting

Share with a roommate

If you’re looking to share rent with a roommate, that’s a great way to save. Compare the cost of renting solo in a one-bedroom apartment to renting as a roommate, and it becomes quickly apparent that shared living could offer the biggest savings by far.

You can meet new roommates on our website, by creating a room-wanted ad, and you can come along to one of our free Speed Roommating events to meet people in person if there are any in your area. You’ll find rooms to rent in existing apartment shares on our website.

Consider neighborhoods nearby

Consider living farther out of major cities if you’re able to work remotely and if this is a viable option. It can offer a better quality of life and cheaper rents, but be sure to weigh up the transit costs against the money you’d save on rent.

Look at homesharing

Renting a room from a homeowner who lives in the property is usually cheaper than renting with roommates, and plenty of the rooms available to rent on SpareRoom are being advertised by these so-called ‘live-in landlords’.

The savings can be bigger if the homeowner needs help around the house, perhaps regular pet sitting, gardening, or cleaning. For those looking for cheaper rent, and happy to help out around the home, this can be a win-win arrangement, but the expectations must be fair and reasonable.

Speak to your landlord

It could be worth negotiating with your landlord if you think your rent is too high. To do this, you’ll need to build a compelling case and show evidence that rent in your area is lower than you’re currently paying.

You could offer to take a longer lease or build a convincing case to show why you’re a reliable tenant and should therefore pay less. But, of course, your landlord isn’t obliged to reduce your rent so you may need to be prepared to look elsewhere.