Tag

Cost Burden

All articles tagged with #cost burden

economy1 month ago•3 min saved

US Housing Crisis Deepens: Fewer Homes, Higher Costs, Wider Burdens

Harvard's 2026 State of the Nation’s Housing finds persistent affordability challenges and economic uncertainty dampening mobility: only 1.1 million new households formed in 2025 and 11.2% relocated in 2024. Millions of households spend large shares of income on housing (20.7 million homeowners >30% and 9.6 million >50%; about half of renters, 22.7 million, are cost-burdened with 12.1 million severely burdened). Roughly 11 million extremely low‑income households compete for just 3.8 million affordable rental units. Aging homes raise maintenance costs, and burdens disproportionately hit renters in Florida/Nevada and homeowners in California/Hawaii, with Black and Hispanic homeowners more likely to be cost-burdened than White owners.

via USA Today|

#aging-housingmaintenance-costs #cost-burden #economy

housing-economy2 years ago•4 min saved

"Study Reveals Record High Housing Unaffordability for Half of U.S. Renters"

A new Harvard University report reveals that a record half of U.S. renters faced unaffordable housing in 2022, with nearly half of them paying more than 50% of their income for rent and utilities. The study shows that even households making $30,000 to $74,999 a year experienced a significant increase in housing unaffordability. The report also highlights the challenges faced by low-income renters and the lack of affordable housing options, leading to a growing gap between rents and incomes. Despite a softening rental market, the situation remains dire, with millions more people qualifying for federal housing subsidies due to the housing crisis.

via NPR|

#cost-burden #harvard-university-report #housing-affordability