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Economy

The Neighborhoods Where Housing Costs Devour Budgets

A significant chunk of Americans spend more than half their incomes on rent or home mortgage payments. Here’s the data on the severely housing-burdened.
relates to The Neighborhoods Where Housing Costs Devour Budgets

Paying rent or a mortgage is never easy. But in thousands of neighborhoods across the country, it’s a burden of epidemic proportions.

More than 10 percent of U.S. households spend at least half their total income on housing costs—far more than the one-third that financial experts advise as a maximum limit. These severely housing-burdened households can be rich or poor, but around half of them are located in neighborhoods where at least one neighbor in three is facing a similar housing burden, according to a CityLab analysis of U.S. Census data obtained from the National Historical Geographic Information System.