Spending 30% on Housing
According to a US Census Bureau press release issued on December 8, 2022, for the period covering 2017-2021, about 19 million Americans spent 30% of their income on housing costs. And “rent or mortgage payments, utilities, and other fees, are considered housing cost burdens according to the Department of Housing and Urban Development’s definition of affordable housing," the bulletin added.
Molly Cromwell, a demographer with the Census Bureau’s Housing Statistics Branch noted, “We’ve heard for a while now that incomes were not keeping up with the increased cost of housing …. With the most recent data, we can see just how many households were burdened by the cost of their housing.”
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