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Expand chart
Data: Joint Center for Housing Studies of Harvard University. Cartogram: Andrew Witherspoon/Axios

The rent is too damn high across huge swaths of conservative states, and it's getting worse fast.

Why it matters: The housing crisis gripping coastal cities has now gone national.

The big picture: “The lowest-income people have always had an absurdly high cost of living,” Whitney Airgood-Obrycki, a research associate at Harvard's Joint Center on Housing Studies, which produced the report, told Bloomberg.

  • “But the affordability crisis that we’re seeing now is hitting middle-income renters, and it’s hitting them across the country.”
  • Bloomberg notes: An "influx of high-income renters ... are increasingly delaying home ownership either out of choice or necessity, driving up rents by fueling competition for existing units and spurring new construction designed primarily for the upper end of the market."

By the numbers: The top 10 U.S. cities, in terms of their rising share of renters making $30,000 to $45,000 who pay more than 30% of their income on rent:

  1. Nashville
  2. Greenville, S.C.
  3. McAllen, Texas
  4. Boise City, Idaho
  5. Raleigh
  6. Denver
  7. Palm Bay, Fla.
  8. Austin
  9. Omaha
  10. Louisville

Go deeperThe new housing crisis

Go deeper

Michigan board certifies Biden's win

Poll workers count absentee ballots in Detroit, Michigan on Nov. 4. Photo: Salwan Georges/The Washington Post via Getty Images

The Michigan Board of State Canvassers certified the state's election results on Monday, making President-elect Joe Biden's win there official and granting him the state's 16 electoral votes.

Why it matters: Republican Party leaders had unsuccessfully appealed to delay the official certification, amid the Trump campaign's failed legal challenges in key swing states.

Biden to nominate Janet Yellen as Treasury secretary

Photo: Photo by Alex Wong/Getty Images

President-elect Joe Biden is preparing to nominate former Fed Chair Janet Yellen as his Treasury Secretary, four people familiar with the matter tell Axios.

Why it matters: Yellen, 74, will bring instant economic celebrity to Biden’s team and, if confirmed, she will not only be the first female Treasury Secretary but also the first person to have held all three economic power positions in the federal government: the chair of Council of Economic Advisers, the chair of Federal Reserve and the Treasury Secretary.

2 hours ago - Podcasts

Bob Nelsen on AstraZeneca and his plan to revolutionize biotech

AstraZeneca and the University of Oxford on Monday reported promising efficacy data for their COVID-19 vaccine, which has less stringent storage requirements than the Pfizer and Moderna vaccines and may be distributed earlier in developing countries.

Axios Re:Cap digs into the state of vaccine and therapeutics manufacturing with Bob Nelsen, a successful biotech investor who on Monday launched Resilience, a giant new pharma production platform that he believes will prepare America for its next major health challenges.