Housing Cost Burdens by Household

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According to data from the most recent American Community Survey (ACS), since the peak of the recession in 2008, the housing cost burden for U.S. homeowners has eased while it has remained stagnant for renters.  The ACS estimates the percentage of “burdened” households, or those spending 35% of their monthly income on housing costs) and provides a 10-year look at the trends from 2008 to 2018.  In 2018, for homeowners it was approximately 20.9% and for renters it was 40.6%.  Indeed…

“The picture wasn’t quite as bright for the nation’s 43.8 million renters. An estimated 40.6% of rental unit residents spent 35% or more of their monthly household income on rent and utility bills last year. That’s a dip of only 0.2 percentage points from 2008 when 40.8% of renters were burdened”.

Click here to read the full report at the U.S. Census Bureau.

 

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Director of Education & Outreach, National Real Estate Investors Association