America Counts: Stories Behind the Numbers

The pandemic began in the United States following a period of rising home prices and declining interest and vacancy rates. These pressures increased during the pandemic, contributing to higher home prices and rents.

The percentage of household income renter households spent on gross rent (rent plus utilities) ? the housing cost ratio ? increased nationwide from 2019 to 2021, according to recently released data from the U.S. Census Bureau?s 2021 American Community Survey (ACS).

But renter households with the lowest annual incomes, a population that traditionally has less income available for other essential goods, experienced the largest percentage point increases.

When a household has a cost ratio of over 30%, it is considered cost-burdened, according to the?Department of Housing and Urban Development (HUD).?Severely cost-burdened households have cost ratios of over 50%.

Continue reading?to learn more about:

• Renters expenditures on rent since 2019
• The difference in renters' household incomes versus homeowners
• Low-income renters being the hardest hit
• Renter households at all income levels more likely to be cost burdened?

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U.S. Census Bureau data show that renters are more likely than homeowners to spend more than 30% of their income on housing costs.

About America Counts

America Counts features stories on various topics including:?

• Families,?Housing,?Employment,?Business,?Education,?Economy?
• Emergency Management,?Health,?Population,?Income and Poverty

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