Housing-burdened households come in all shapes, sizes, and incomes. CityLab says more than 10% of households in the United States “spend at least half their total income on housing costs. Financial experts say the maximum spend on housing should be one-third of the total income. Still, more and more families, rich and poor, are feeling the stress of paying for housing.
CityLab analyzed U.S. Census Data and found the following:
SHARE OF HOUSEHOLDS WHO SPENT HALF OR MORE OF THEIR INCOME ON HOUSING IN THE U.S. IN 2019, BY INCOME
More than 10% of households in the United States “spend at least half their total income on housing costs.”
The analysis also revealed:
- Dense neighborhoods have more housing burden
- House-burdened households are more common on the West Coast and in the South
- Housing stress is worse in “high-cost neighborhoods,” finding that when the home costs more than $2000/month, it affects every income bracket.