Chattanooga has been listed seventh out of 10 cities with the fastest-growing rent, according to consumer website NerdWallet.
“Rich culture and resources (the area is abundant in natural resources and has a strong tourism industry) have drawn many people to the city, leading to rising rental costs,” according to NerdWallet.
City leaders have long discussed the need for more affordable housing, especially in downtown Chattanooga.
Last month, leaders with economic development nonprofit River City Company said they hope to have announcements soon about new downtown housing and ideas that emerged out of a recent design charrette. Click here to read more about that.
And the Chattanooga Housing Authority works to help low-income families find homes in the city.
According to a new report from the National Low Income Housing Coalition, many people nationwide spend a disproportionate amount of their income on rent.
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