Publication Date:
Tue, 2011-11-01 10:37
Article Image:
25% of renting households pay more than 50% of their income in rent
The National Association of Home Builders (NAHB) reported on its blog [1] that it examined data from the Census Bureau’s 2010 American Community Survey (ACS) to find the state-by-state distribution of rent-burdened households. According to U.S. Department of Housing and Urban Development definitions, a renting household or family is considered “rent-burdened” if they pay more than 30 percent of their household income in gross rent (“severely rent-burdened” if they pay more than 50 percent).
Nationwide, 19.4 million renting households (out of 39.7 million total), or 49 percent, pay more than 30 percent of their total income in rent. In fact, 25 percent of renting households pay more than 50 percent of their income in rent.
For state-specific information and the chart, click here [1].
